Zacks Research Upgrades Evertec (NYSE:EVTC) to “Strong-Buy”

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

A number of other analysts also recently commented on EVTC. Susquehanna decreased their price target on Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Evertec in a research note on Monday. Morgan Stanley lowered their target price on Evertec from $34.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 12th. Finally, Keefe, Bruyette & Woods reduced their price target 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.80.

Evertec Trading Down 1.2%

NYSE:EVTC opened at $29.13 on Monday. Evertec has a 52 week low of $26.72 and a 52 week high of $38.56. The firm has a 50-day moving average price of $29.18 and a two-hundred day moving average price of $32.62. The company has a debt-to-equity ratio of 1.59, a quick ratio of 2.91 and a current ratio of 2.91. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 1.17 and a beta of 0.89.

Institutional Trading of Evertec

Several hedge funds and other institutional investors have recently modified their holdings of EVTC. OMERS ADMINISTRATION Corp bought a new position in Evertec in the 1st quarter worth approximately $474,000. Trexquant Investment LP bought a new position in shares of Evertec in the first quarter worth $380,000. Royal Bank of Canada boosted its holdings in shares of Evertec by 10.2% in the first quarter. Royal Bank of Canada now owns 37,786 shares of the business services provider’s stock worth $1,389,000 after acquiring an additional 3,495 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Evertec in the first quarter valued at $3,654,000. Finally, AQR Capital Management LLC bought a new stake in shares of Evertec during the 1st quarter valued at $248,000. 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.