Evertec, Inc. (EVTC) Downgraded to Neutral at Compass Point
Compass Point downgraded shares of Evertec, Inc. (NYSE:EVTC) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning. Compass Point currently has $19.00 target price on the stock.
A number of other research firms have also recently weighed in on EVTC. Zacks Investment Research upgraded shares of Evertec from a hold rating to a buy rating and set a $19.00 price objective for the company in a research report on Wednesday, September 28th. Cowen and Company cut shares of Evertec from an outperform rating to a market perform rating and upped their price objective for the stock from $18.00 to $19.00 in a research report on Monday, December 5th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $17.80.
Evertec (NYSE:EVTC) traded up 3.47% during midday trading on Thursday, hitting $17.90. 633,093 shares of the stock traded hands. The firm has a market cap of $1.32 billion, a PE ratio of 16.56 and a beta of 1.28. Evertec has a 52-week low of $11.27 and a 52-week high of $18.60. The stock has a 50-day moving average of $17.92 and a 200 day moving average of $16.66.
Evertec (NYSE:EVTC) last posted its earnings results on Wednesday, November 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. Evertec had a net margin of 21.14% and a return on equity of 120.29%. The firm earned $94.47 million during the quarter, compared to analysts’ expectations of $95.29 million. During the same period in the previous year, the business posted $0.39 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. Equities analysts forecast that Evertec will post $1.71 EPS for the current year.
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In other news, insider Miguel Vizcarrondo sold 30,000 shares of the company’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $17.00, for a total transaction of $510,000.00. Following the completion of the sale, the insider now owns 192,600 shares of the company’s stock, valued at $3,274,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.56% of the company’s stock.
Several large investors have recently added to or reduced their stakes in EVTC. Vanguard Group Inc. raised its stake in Evertec by 5.6% in the second quarter. Vanguard Group Inc. now owns 4,602,128 shares of the company’s stock worth $71,517,000 after buying an additional 243,865 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of Evertec during the second quarter worth about $3,229,000. UBS Group AG raised its stake in shares of Evertec by 1,853.6% in the third quarter. UBS Group AG now owns 147,496 shares of the company’s stock worth $2,475,000 after buying an additional 139,946 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Evertec by 6.9% in the third quarter. BlackRock Fund Advisors now owns 1,622,467 shares of the company’s stock worth $27,225,000 after buying an additional 104,246 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Evertec by 420.2% in the second quarter. AQR Capital Management LLC now owns 118,220 shares of the company’s stock worth $1,837,000 after buying an additional 95,493 shares in the last quarter. 79.12% of the stock is owned by institutional investors and hedge funds.
EVERTEC, Inc, formerly Carib Latam Holdings, Inc, is a full-service transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. It has three segments: Merchant Acquiring, Payment Processing and Business Solutions. It provides services to merchants that allow them to accept electronic methods of payment, such as debit, credit, prepaid and electronic benefit transfer cards, carrying the ATH, Visa, MasterCard, Discover and American Express brands.
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