Zacks Research Downgrades Evertec (NYSE:EVTC) to Hold

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

Several other equities research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. Morgan Stanley dropped their price target on 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 reduced their price objective on Evertec from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Evertec in a research 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, the stock presently has a consensus rating of “Hold” and an average price target of $35.80.

Evertec Stock Performance

NYSE EVTC opened at $29.33 on Tuesday. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 1.59. Evertec has a twelve month low of $26.72 and a twelve month high of $38.56. The business has a 50-day moving average price of $29.35 and a 200-day moving average price of $31.88. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.11 and a beta of 0.88.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EVTC. Lido Advisors LLC raised its position in shares of Evertec by 4.3% in the third quarter. Lido Advisors LLC now owns 8,746 shares of the business services provider’s stock valued at $295,000 after buying an additional 363 shares during the last quarter. Amalgamated Bank grew its stake in Evertec by 2.2% during the 3rd quarter. Amalgamated Bank now owns 18,633 shares of the business services provider’s stock valued at $629,000 after acquiring an additional 408 shares in the last quarter. California State Teachers Retirement System raised its holdings in Evertec by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 59,159 shares of the business services provider’s stock valued at $2,133,000 after acquiring an additional 417 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Evertec by 132.6% in the 3rd quarter. Richardson Financial Services Inc. now owns 763 shares of the business services provider’s stock worth $26,000 after purchasing an additional 435 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Evertec by 28.6% in the 2nd quarter. Blue Trust Inc. now owns 1,958 shares of the business services provider’s stock worth $71,000 after purchasing an additional 436 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors.

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.