Evertec (EVTC) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Evertec (NYSE:EVTC) from a sell rating to a hold rating in a research report report published on Friday.
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 equities research analysts also recently weighed in on EVTC. ValuEngine raised shares of Evertec from a hold rating to a buy rating in a report on Thursday, November 9th. JPMorgan Chase & Co. downgraded shares of Evertec from a neutral rating to an underweight rating in a report on Tuesday, December 12th. Goldman Sachs Group downgraded shares of Evertec from a neutral rating to a sell rating and cut their price target for the company from $15.00 to $12.00 in a report on Wednesday, January 17th. Morgan Stanley reissued an equal weight rating and issued a $18.00 price target (up from $17.00) on shares of Evertec in a report on Thursday, February 22nd. Finally, Cowen reissued a market perform rating and issued a $18.00 price target (up from $14.00) on shares of Evertec in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $17.00.
Evertec (NYSE:EVTC) last announced its earnings results on Wednesday, February 21st. The business services provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. The firm had revenue of $99.63 million during the quarter, compared to analyst estimates of $89.98 million. Evertec had a net margin of 13.52% and a return on equity of 78.61%. Evertec’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 EPS. research analysts anticipate that Evertec will post 1.26 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of EVTC. Quantitative Systematic Strategies LLC purchased a new stake in Evertec during the fourth quarter valued at about $141,000. SG Americas Securities LLC purchased a new stake in Evertec during the third quarter valued at about $146,000. Boothbay Fund Management LLC purchased a new stake in Evertec during the third quarter valued at about $187,000. Cigna Investments Inc. New purchased a new stake in Evertec during the fourth quarter valued at about $203,000. Finally, Ramsey Quantitative Systems purchased a new stake in shares of Evertec in the fourth quarter worth approximately $221,000. 80.17% of the stock is owned by institutional investors.
Evertec Company Profile
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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