Evertec, Inc. (NYSE:EVTC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “Evertec, Inc. is engaged in transaction processing business primarily in Latin America and the Caribbean. The Company operates through divisions which consist of Merchant Acquiring Solutions, Payment Processing and Business Solutions. It offers ATH network, payment processing, card products processing, electronic benefit transfer services, information technology services, database management services, printing centre and document mailing, cash processing, business processes outsourcing services as well as payment solutions, point-of-sale systems and accessories to receive payments. Evertec, Inc. is based in San Juan, Puerto Rico. “

Several other research analysts have also recently commented on EVTC. BidaskClub raised Evertec from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. ValuEngine cut Evertec from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Evertec currently has a consensus rating of “Hold” and a consensus target price of $19.00.

Shares of Evertec (NYSE:EVTC) traded down 1.36% during midday trading on Thursday, hitting $18.20. The company had a trading volume of 196,469 shares. The company has a 50-day moving average of $17.50 and a 200 day moving average of $16.77. The firm has a market capitalization of $1.32 billion, a PE ratio of 17.03 and a beta of 1.25. Evertec has a 12 month low of $14.15 and a 12 month high of $19.52.

Evertec (NYSE:EVTC) last released its earnings results on Tuesday, August 1st. The business services provider reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. Evertec had a return on equity of 107.21% and a net margin of 19.64%. The firm had revenue of $103.51 million during the quarter, compared to analysts’ expectations of $100.21 million. During the same period in the previous year, the firm posted $0.43 EPS. Evertec’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts expect that Evertec will post $1.70 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVTC. IFP Advisors Inc bought a new position in Evertec during the second quarter valued at approximately $108,000. BNP Paribas Arbitrage SA boosted its position in Evertec by 497.5% in the second quarter. BNP Paribas Arbitrage SA now owns 7,062 shares of the business services provider’s stock valued at $122,000 after buying an additional 5,880 shares during the last quarter. Koch Industries Inc. bought a new position in Evertec during the first quarter valued at approximately $169,000. Campbell & CO Investment Adviser LLC bought a new position in Evertec during the first quarter valued at approximately $171,000. Finally, DF Dent & Co. Inc. boosted its position in Evertec by 0.7% in the first quarter. DF Dent & Co. Inc. now owns 10,832 shares of the business services provider’s stock valued at $172,000 after buying an additional 79 shares during the last quarter. 79.09% of the stock is owned by hedge funds and other institutional investors.

Evertec Company Profile

EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.

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