Goldman Sachs Group cut shares of Evertec (NYSE:EVTC) from a neutral rating to a sell rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. They currently have $12.00 price objective on the business services provider’s stock, down from their prior price objective of $15.00.

Other equities analysts have also recently issued research reports about the company. ValuEngine cut Evertec from a buy rating to a hold rating in a research report on Tuesday, September 26th. JPMorgan Chase & Co. cut Evertec from a neutral rating to an underweight rating in a research report on Tuesday, December 12th. BidaskClub cut Evertec from a hold rating to a sell rating in a research report on Thursday, September 28th. Stifel Nicolaus dropped their price target on Evertec from $18.00 to $17.00 and set a buy rating on the stock in a research report on Wednesday, November 8th. Finally, Zacks Investment Research cut Evertec from a buy rating to a hold rating in a research report on Monday, October 9th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $16.67.

Evertec (EVTC) traded up $0.25 during trading on Wednesday, hitting $14.35. The stock had a trading volume of 519,889 shares, compared to its average volume of 616,850. Evertec has a fifty-two week low of $12.60 and a fifty-two week high of $19.52. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $1,020.70, a P/E ratio of 16.31, a P/E/G ratio of 2.09 and a beta of 1.14.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its position in Evertec by 497.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,062 shares of the business services provider’s stock worth $122,000 after purchasing an additional 5,880 shares during the period. SG Americas Securities LLC acquired a new position in Evertec during the 3rd quarter worth approximately $146,000. Koch Industries Inc. increased its position in Evertec by 1,753.1% during the 2nd quarter. Koch Industries Inc. now owns 196,889 shares of the business services provider’s stock worth $186,000 after purchasing an additional 186,264 shares during the period. Boothbay Fund Management LLC acquired a new position in Evertec during the 3rd quarter worth approximately $187,000. Finally, Fox Run Management L.L.C. acquired a new position in Evertec during the 3rd quarter worth approximately $189,000. Institutional investors own 78.29% of the company’s stock.

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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.

Analyst Recommendations for Evertec (NYSE:EVTC)

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