Evertec (NYSE:EVTC) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Evertec (NYSE:EVTC) from a buy rating to a hold rating in a research report sent to investors on Friday.

EVTC has been the topic of a number of other reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Evertec in a research note on Monday, December 29th. Morgan Stanley lowered their price objective on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 12th. Susquehanna dropped their price objective on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Keefe, Bruyette & Woods cut their target price on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. Finally, Zacks Research downgraded Evertec from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.80.

Evertec Stock Performance

NYSE:EVTC opened at $29.77 on Friday. The stock has a market cap of $1.90 billion, a P/E ratio of 13.23, a PEG ratio of 1.14 and a beta of 0.88. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 1.59. The business’s 50-day moving average price is $29.39 and its two-hundred day moving average price is $31.75. Evertec has a twelve month low of $26.72 and a twelve month high of $38.56.

Institutional Trading of Evertec

Several institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its stake in shares of Evertec by 7.4% during the third quarter. American Century Companies Inc. now owns 4,894,013 shares of the business services provider’s stock valued at $165,320,000 after buying an additional 335,639 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Evertec by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,476,778 shares of the business services provider’s stock valued at $53,245,000 after acquiring an additional 9,506 shares during the period. Millennium Management LLC grew its position in Evertec by 731.6% during the 3rd quarter. Millennium Management LLC now owns 686,281 shares of the business services provider’s stock worth $23,183,000 after acquiring an additional 603,753 shares during the last quarter. Boston Partners increased its stake in Evertec by 45.0% in the 3rd quarter. Boston Partners now owns 526,864 shares of the business services provider’s stock worth $17,656,000 after purchasing an additional 163,398 shares during the period. Finally, Clifford Capital Partners LLC increased its stake in Evertec by 0.3% in the 3rd quarter. Clifford Capital Partners LLC now owns 436,707 shares of the business services provider’s stock worth $14,752,000 after purchasing an additional 1,276 shares during the period. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Evertec Company Profile

Evertec, Inc (NYSE: EVTC) is a leading full‐service transaction processor in Puerto Rico, Latin America and the Caribbean. The company delivers integrated technology solutions for electronic payments, providing financial institutions, merchants and governments with secure and scalable platforms to accept, process and settle transactions across card, ATM, debit and digital channels. Headquartered in San Juan, Puerto Rico, Evertec supports both domestic and cross‐border payment flows, enabling clients to streamline operations and expand their digital commerce capabilities.

Evertec’s suite of services includes merchant acquiring, payment gateway connectivity, ATM and point‐of‐sale network management, and fraud prevention solutions.