Evertec (NYSE:EVTC) Stock Passes Below 50 Day Moving Average – What’s Next?

Shares of Evertec, Inc. (NYSE:EVTC) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $29.30 and traded as low as $29.00. Evertec shares last traded at $29.3340, with a volume of 404,513 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on EVTC shares. Keefe, Bruyette & Woods dropped their price target on Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Zacks Research cut Evertec from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Evertec in a report on Monday, December 15th. Susquehanna decreased their price objective on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Finally, Morgan Stanley dropped their target price on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 12th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Evertec presently has an average rating of “Hold” and a consensus target price of $35.80.

Evertec Price Performance

The firm’s 50 day moving average price is $29.30 and its two-hundred day moving average price is $32.94. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.91 and a quick ratio of 2.91. The stock has a market cap of $1.88 billion, a PE ratio of 13.04, a P/E/G ratio of 1.15 and a beta of 0.89.

Evertec Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 3rd were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, November 3rd. Evertec’s payout ratio is currently 8.89%.

Hedge Funds Weigh In On Evertec

Large investors have recently made changes to their positions in the stock. USA Financial Formulas purchased a new position in shares of Evertec in the second quarter valued at $26,000. Richardson Financial Services Inc. boosted its stake in Evertec by 132.6% in the 3rd quarter. Richardson Financial Services Inc. now owns 763 shares of the business services provider’s stock worth $26,000 after purchasing an additional 435 shares during the period. Parkside Financial Bank & Trust boosted its stake in Evertec by 479.1% in 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 period. Brown Brothers Harriman & Co. purchased a new position in Evertec during the 3rd quarter valued at about $52,000. Finally, Advisory Services Network LLC bought a new stake in shares of Evertec during the third quarter valued at about $59,000. 96.80% of the stock is owned by institutional investors.

Evertec Company Profile

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.