Evertec (EVTC) Lifted to Strong-Buy at ValuEngine
Evertec (NYSE:EVTC) was upgraded by stock analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Evertec from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. downgraded shares of Evertec from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 12th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Evertec in a report on Thursday, February 22nd. Goldman Sachs Group downgraded shares of Evertec from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $15.00 to $12.00 in a report on Wednesday, January 17th. Finally, Cowen reaffirmed a “market perform” rating and issued a $18.00 price objective (up previously from $14.00) on shares of Evertec in a report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $17.00.
Shares of Evertec (EVTC) opened at $16.20 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 4.08. The stock has a market cap of $1,180.59, a price-to-earnings ratio of 11.16, a P/E/G ratio of 2.59 and a beta of 1.14. Evertec has a 12 month low of $12.60 and a 12 month high of $19.52.
Institutional investors and hedge funds have recently made changes to their positions in the company. Quantitative Systematic Strategies LLC acquired a new position in shares of Evertec during the fourth quarter valued at $141,000. SG Americas Securities LLC acquired a new position in shares of Evertec during the third quarter valued at $146,000. Boothbay Fund Management LLC acquired a new position in shares of Evertec during the third quarter valued at $187,000. Fox Run Management L.L.C. acquired a new position in shares of Evertec during the third quarter valued at $189,000. Finally, Cigna Investments Inc. New acquired a new position in shares of Evertec during the fourth quarter valued at $203,000. 79.15% of the stock is owned by institutional investors.
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Evertec Company Profile
EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.
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