Evertec, Inc. (NYSE:EVTC) Receives Consensus Recommendation of “Hold” from Analysts

Evertec, Inc. (NYSE:EVTC) has been given an average recommendation of “Hold” by the eight analysts that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $35.80.

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut their target price on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Zacks Research lowered shares of Evertec from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. 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 note on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Evertec in a research note on Monday, December 8th. Finally, Morgan Stanley reduced their price target 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.

Evertec Price Performance

Shares of NYSE:EVTC opened at $29.77 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 2.91 and a current ratio of 2.91. The business’s fifty day moving average price is $29.57 and its two-hundred day moving average price is $33.25. The stock has a market cap of $1.90 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 1.18 and a beta of 0.89. Evertec has a one year low of $26.72 and a one year high of $38.56.

Evertec Dividend Announcement

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

Institutional Investors Weigh In On Evertec

A number of institutional investors have recently bought and sold shares of the stock. USA Financial Formulas purchased a new position in Evertec during the second quarter worth approximately $26,000. Richardson Financial Services Inc. raised its position in shares of 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 buying an additional 435 shares during the period. Parkside Financial Bank & Trust raised its position 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. acquired a new position in Evertec in the third quarter valued at $52,000. Finally, Advisory Services Network LLC purchased a new stake in Evertec during the third quarter valued at about $59,000. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Evertec Company Profile

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.