Evertec (NYSE:EVTC) Downgraded to “Hold” Rating by Wall Street Zen

Evertec (NYSE:EVTC) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Friday.

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

Evertec Stock Performance

Shares of EVTC traded down $0.35 during trading hours on Friday, reaching $29.77. 194,796 shares of the company traded hands, compared to its average volume of 315,386. 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 fifty day moving average price of $29.39 and a 200-day moving average price of $31.82. Evertec has a 12-month low of $26.72 and a 12-month high of $38.56. The stock has a market capitalization of $1.90 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.15 and a beta of 0.88.

Hedge Funds Weigh In On Evertec

A number of large investors have recently bought and sold shares of EVTC. USA Financial Formulas acquired a new stake in shares of Evertec in the second quarter worth approximately $26,000. Richardson Financial Services Inc. lifted its holdings in 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 boosted its stake in Evertec by 479.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,355 shares of the business services provider’s stock worth $49,000 after purchasing an additional 1,121 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Evertec during the 3rd quarter worth $52,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Evertec during the third quarter worth $59,000. Institutional investors and hedge funds 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.