Evertec (NYSE:EVTC) Rating Lowered to Hold at Wall Street Zen

Evertec (NYSE:EVTC) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other brokerages also recently weighed in on EVTC. Keefe, Bruyette & Woods lowered their target price on Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Evertec in a report on Monday, December 29th. Zacks Research cut shares of Evertec from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Morgan Stanley cut their price objective on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 12th. Finally, Susquehanna lowered their target price on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Evertec has a consensus rating of “Hold” and a consensus price target of $35.80.

Evertec Price Performance

Shares of NYSE EVTC opened at $29.77 on Friday. The stock has a market cap of $1.90 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.14 and a beta of 0.88. Evertec has a twelve month low of $26.72 and a twelve month high of $38.56. The stock has a 50 day moving average of $29.39 and a two-hundred day moving average of $31.78. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 1.59.

Hedge Funds Weigh In On Evertec

Several hedge funds have recently bought and sold shares of EVTC. Lido Advisors LLC increased its position in Evertec by 4.3% during the 3rd quarter. Lido Advisors LLC now owns 8,746 shares of the business services provider’s stock worth $295,000 after purchasing an additional 363 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Evertec by 1.1% during the fourth quarter. State of Alaska Department of Revenue now owns 35,161 shares of the business services provider’s stock valued at $1,022,000 after buying an additional 384 shares during the period. Amalgamated Bank lifted its stake in shares of Evertec by 2.2% during the third quarter. Amalgamated Bank now owns 18,633 shares of the business services provider’s stock valued at $629,000 after buying an additional 408 shares during the period. California State Teachers Retirement System boosted its position in Evertec by 0.7% during the second quarter. California State Teachers Retirement System now owns 59,159 shares of the business services provider’s stock worth $2,133,000 after acquiring an additional 417 shares during the last quarter. Finally, Richardson Financial Services Inc. grew 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 acquiring an additional 435 shares during the period. Hedge funds and other 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.