Evertec (NYSE:EVTC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday.

According to Zacks, “Evertec, Inc. is engaged in transaction processing business primarily in Latin America and the Caribbean. The Company operates through divisions which consist of Merchant Acquiring Solutions, Payment Processing and Business Solutions. It offers ATH network, payment processing, card products processing, electronic benefit transfer services, information technology services, database management services, printing centre and document mailing, cash processing, business processes outsourcing services as well as payment solutions, point-of-sale systems and accessories to receive payments. Evertec, Inc. is based in San Juan, Puerto Rico. “

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Evertec from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, October 19th. TheStreet cut shares of Evertec from a “b-” rating to a “c+” rating in a research note on Thursday, October 19th. Deutsche Bank dropped their price objective on shares of Evertec from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Wednesday, November 8th. JPMorgan Chase & Co. cut shares of Evertec from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 12th. Finally, BidaskClub cut shares of Evertec from a “sell” rating to a “strong sell” rating in a research note on Friday, October 27th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Evertec currently has an average rating of “Hold” and a consensus price target of $17.83.

Shares of Evertec (EVTC) traded down $0.10 on Monday, hitting $14.05. 498,000 shares of the stock were exchanged, compared to its average volume of 596,267. The company has a debt-to-equity ratio of 4.08, a quick ratio of 1.00 and a current ratio of 1.00. Evertec has a fifty-two week low of $12.60 and a fifty-two week high of $19.52. The stock has a market cap of $1,038.80, a PE ratio of 15.97, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14.

Evertec (NYSE:EVTC) last issued its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.08). Evertec had a return on equity of 95.54% and a net margin of 15.92%. The business had revenue of $102.70 million for the quarter, compared to analysts’ expectations of $97.11 million. During the same period last year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. equities analysts expect that Evertec will post 1.35 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Capital Fund Management S.A. purchased a new stake in Evertec in the 2nd quarter worth approximately $456,000. Wells Fargo & Company MN grew its stake in Evertec by 11.7% in the 2nd quarter. Wells Fargo & Company MN now owns 106,333 shares of the business services provider’s stock worth $1,840,000 after acquiring an additional 11,130 shares during the period. AXA grew its stake in Evertec by 45.2% in the 2nd quarter. AXA now owns 236,500 shares of the business services provider’s stock worth $4,091,000 after acquiring an additional 73,600 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in Evertec in the 3rd quarter worth approximately $961,000. Finally, Summit Global Investments purchased a new stake in Evertec in the 2nd quarter worth approximately $526,000. 79.34% of the stock is owned by hedge funds and other institutional investors.

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About Evertec

EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.

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