Zacks Investment Research Lowers Evertec, Inc. (EVTC) to Strong Sell
Evertec, Inc. (NYSE:EVTC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Monday.
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 brokerages have also commented on EVTC. BidaskClub raised Evertec from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. ValuEngine raised Evertec from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Cowen and Company reissued a “hold” rating and set a $20.00 price objective on shares of Evertec in a research report on Thursday. Finally, Stifel Nicolaus raised Evertec from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $18.75.
Evertec (EVTC) traded down 0.98% on Monday, hitting $15.20. 478,359 shares of the company were exchanged. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 14.21 and a beta of 1.21. Evertec has a 52 week low of $14.15 and a 52 week high of $19.52. The stock has a 50 day moving average of $17.16 and a 200 day moving average of $17.01.
Evertec (NYSE:EVTC) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $103.51 million during the quarter, compared to analyst estimates of $100.21 million. Evertec had a return on equity of 107.21% and a net margin of 19.64%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 earnings per share. Analysts predict that Evertec will post $1.63 EPS for the current fiscal year.
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Large investors have recently modified their holdings of the company. IFP Advisors Inc bought a new position in shares of Evertec during the second quarter valued at $108,000. BNP Paribas Arbitrage SA increased its holdings in shares of Evertec by 497.5% during the second quarter. BNP Paribas Arbitrage SA now owns 7,062 shares of the business services provider’s stock valued at $122,000 after acquiring an additional 5,880 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Evertec during the first quarter valued at $181,000. Koch Industries Inc. increased its holdings in shares of Evertec by 1,753.1% during the second quarter. Koch Industries Inc. now owns 196,889 shares of the business services provider’s stock valued at $186,000 after acquiring an additional 186,264 shares in the last quarter. Finally, Invictus RG bought a new position in shares of Evertec during the first quarter valued at $210,000. Hedge funds and other institutional investors own 77.96% of the company’s stock.
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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