Evertec, Inc. (NYSE:EVTC) has earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $18.50.

Several equities research analysts have recently weighed in on EVTC shares. Zacks Investment Research raised shares of Evertec from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Tuesday, October 3rd. ValuEngine raised shares of Evertec from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Stifel Nicolaus upgraded shares of Evertec from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Thursday, September 28th. TheStreet cut shares of Evertec from a “b-” rating to a “c+” rating in a report on Thursday, October 19th. Finally, Morgan Stanley cut their price target on shares of Evertec from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, October 19th.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Evertec by 4.4% in the first quarter. Vanguard Group Inc. now owns 5,079,500 shares of the business services provider’s stock worth $80,764,000 after purchasing an additional 215,429 shares during the last quarter. Rivulet Capital LLC grew its holdings in shares of Evertec by 9.5% in the second quarter. Rivulet Capital LLC now owns 3,201,605 shares of the business services provider’s stock worth $55,388,000 after purchasing an additional 278,800 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Evertec by 32.2% in the second quarter. Capital Research Global Investors now owns 2,438,000 shares of the business services provider’s stock worth $42,177,000 after purchasing an additional 594,000 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Evertec by 8.0% in the third quarter. American Century Companies Inc. now owns 2,081,518 shares of the business services provider’s stock worth $32,992,000 after purchasing an additional 154,656 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Evertec by 6.2% in the second quarter. State Street Corp now owns 1,265,945 shares of the business services provider’s stock worth $21,905,000 after purchasing an additional 74,230 shares during the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

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Evertec (NYSE:EVTC) last announced its earnings results on Tuesday, August 1st. The business services provider reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.02. Evertec had a net margin of 19.64% and a return on equity of 107.21%. The business had revenue of $103.51 million for the quarter, compared to the consensus estimate of $100.21 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis.

About Evertec

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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