Evertec (NYSE:EVTC) Given New $32.00 Price Target at Susquehanna

Evertec (NYSE:EVTC) had its price objective cut by Susquehanna from $37.00 to $32.00 in a research report report published on Friday morning,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Several other research analysts also recently commented on the company. Morgan Stanley reduced their price objective on Evertec from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Evertec in a research report on Thursday, July 17th. They issued a “hold” rating and a $35.00 target price for the company. Zacks Research downgraded shares of Evertec from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Evertec in a research note on Wednesday, October 8th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $43.00 target price (up from $42.00) on shares of Evertec in a research note on Thursday, July 31st. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.60.

Evertec Price Performance

Evertec stock traded down $0.88 during midday trading on Friday, reaching $27.21. The company had a trading volume of 914,745 shares, compared to its average volume of 334,427. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.20 and a quick ratio of 2.20. Evertec has a 12-month low of $26.78 and a 12-month high of $38.56. The company has a market capitalization of $1.74 billion, a P/E ratio of 12.83, a P/E/G ratio of 1.43 and a beta of 0.91. The firm’s fifty day simple moving average is $31.99 and its 200-day simple moving average is $34.38.

Evertec (NYSE:EVTC) last posted its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Evertec had a return on equity of 36.67% and a net margin of 15.56%.The company had revenue of $227.93 million during the quarter, compared to analyst estimates of $224.68 million. During the same period in the previous year, the business earned $0.86 EPS. Evertec’s quarterly revenue was up 7.9% on a year-over-year basis. Evertec has set its FY 2025 guidance at 3.560-3.620 EPS. As a group, equities analysts anticipate that Evertec will post 2.63 EPS for the current year.

Evertec Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 3rd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, November 3rd. Evertec’s payout ratio is presently 9.43%.

Institutional Trading of Evertec

Institutional investors have recently made changes to their positions in the company. USA Financial Formulas acquired a new position in Evertec in the 2nd quarter valued at about $26,000. Richardson Financial Services Inc. boosted its stake in shares of Evertec by 132.6% in the third 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 during the period. Parkside Financial Bank & Trust grew its holdings in shares of Evertec by 479.1% in the second 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. Smartleaf Asset Management LLC increased its stake in Evertec by 40.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,796 shares of the business services provider’s stock worth $62,000 after buying an additional 517 shares during the period. Finally, TD Private Client Wealth LLC lifted its holdings in Evertec by 19.3% during the 1st quarter. TD Private Client Wealth LLC now owns 1,855 shares of the business services provider’s stock worth $68,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

About Evertec

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.