Evertec (NYSE:EVTC) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Evertec (NYSE:EVTC) from a strong-buy rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other analysts have also recently commented on EVTC. Susquehanna cut their price target on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Evertec in a research note on Monday, December 29th. Morgan Stanley reduced their price target on Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday, November 12th. Finally, Keefe, Bruyette & Woods lowered their price target on Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Evertec currently has an average rating of “Hold” and a consensus price target of $35.80.

Evertec Stock Up 2.0%

Shares of Evertec stock traded up $0.59 on Tuesday, reaching $30.01. 25,127 shares of the company were exchanged, compared to its average volume of 342,765. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.11 and a beta of 0.88. 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 one year low of $26.72 and a one year high of $38.56. The company has a 50-day moving average of $29.35 and a 200 day moving average of $31.88.

Institutional Investors Weigh In On Evertec

Several hedge funds have recently bought and sold shares of EVTC. American Century Companies Inc. grew its position in shares of Evertec by 7.4% in the third quarter. American Century Companies Inc. now owns 4,894,013 shares of the business services provider’s stock valued at $165,320,000 after purchasing an additional 335,639 shares during the last quarter. Geode Capital Management LLC boosted its stake in Evertec by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,476,778 shares of the business services provider’s stock valued at $53,245,000 after purchasing an additional 9,506 shares during the period. Millennium Management LLC boosted its stake in Evertec by 731.6% in the 3rd quarter. Millennium Management LLC now owns 686,281 shares of the business services provider’s stock valued at $23,183,000 after purchasing an additional 603,753 shares during the period. Boston Partners grew its holdings in Evertec by 45.0% in the 3rd quarter. Boston Partners now owns 526,864 shares of the business services provider’s stock valued at $17,656,000 after buying an additional 163,398 shares in the last quarter. Finally, Clifford Capital Partners LLC increased its position in Evertec by 0.3% during the 3rd quarter. Clifford Capital Partners LLC now owns 436,707 shares of the business services provider’s stock worth $14,752,000 after buying an additional 1,276 shares during the period. 96.80% of the stock is currently owned by institutional investors and hedge funds.

About Evertec

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.