Evertec (NYSE:EVTC) Stock Rating Lowered by Zacks Research

Evertec (NYSE:EVTC) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on EVTC. Keefe, Bruyette & Woods lowered their target price on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Morgan Stanley decreased their price objective on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 12th. Susquehanna dropped their target price on Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Evertec in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $35.80.

Evertec Trading Up 2.4%

EVTC traded up $0.72 during trading on Tuesday, reaching $30.14. The company had a trading volume of 38,121 shares, compared to its average volume of 344,467. 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 has a 50 day simple moving average of $29.35 and a 200-day simple moving average of $31.88. The stock has a market cap of $1.93 billion, a P/E ratio of 13.39, a PEG ratio of 1.11 and a beta of 0.88. Evertec has a 52 week low of $26.72 and a 52 week high of $38.56.

Hedge Funds Weigh In On Evertec

A number of hedge funds and other institutional investors have recently made changes to their positions in EVTC. USA Financial Formulas bought a new stake in shares of Evertec in the second quarter valued at about $26,000. Richardson Financial Services Inc. raised its holdings in shares of Evertec by 132.6% in the 3rd quarter. Richardson Financial Services Inc. now owns 763 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 435 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Evertec by 479.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,355 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 1,121 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Evertec in the 3rd quarter worth approximately $52,000. Finally, Advisory Services Network LLC bought a new position in shares of Evertec during the third quarter valued at approximately $59,000. Institutional investors own 96.80% of the company’s stock.

About Evertec

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.