Evertec, Inc. (NYSE:EVTC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Evertec, Inc. (NYSE:EVTC) has been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $35.80.

Several equities analysts have recently weighed in on EVTC shares. Keefe, Bruyette & Woods cut their target price on Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. Susquehanna reduced their price objective on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Morgan Stanley cut 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. Zacks Research upgraded Evertec from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Evertec in a research note on Monday, December 29th.

Evertec Trading Down 0.9%

EVTC opened at $29.57 on Thursday. The stock has a 50-day moving average of $29.03 and a 200 day moving average of $32.36. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 1.59. Evertec has a 12 month low of $26.72 and a 12 month high of $38.56. The firm has a market cap of $1.89 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.13 and a beta of 0.88.

Evertec Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders 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 dividend payout ratio is currently 8.89%.

Institutional Trading of Evertec

Institutional investors and hedge funds have recently modified their holdings of the stock. USA Financial Formulas purchased a new stake in shares of Evertec in the second quarter valued at approximately $26,000. Richardson Financial Services Inc. raised its position in Evertec by 132.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 763 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 435 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of 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 buying an additional 1,121 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in shares of Evertec in the 3rd quarter worth $52,000. Finally, Advisory Services Network LLC bought a new position in shares of Evertec during the 3rd quarter worth $59,000. Institutional investors own 96.80% of the company’s stock.

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.