ValuEngine upgraded shares of Evertec, Inc. (NYSE:EVTC) from a hold rating to a buy rating in a research report released on Thursday.

Several other research firms have also issued reports on EVTC. Zacks Investment Research upgraded shares of Evertec from a hold rating to a buy rating and set a $21.00 target price for the company in a report on Thursday, August 3rd. BidaskClub lowered shares of Evertec from a hold rating to a sell rating in a report on Thursday, September 28th. Stifel Nicolaus upgraded shares of Evertec from a hold rating to a buy rating and set a $18.00 target price for the company in a report on Thursday, September 28th. Morgan Stanley lowered their target price on shares of Evertec from $18.00 to $17.00 and set an equal weight rating for the company in a report on Thursday, October 19th. Finally, Cowen and Company restated a hold rating and issued a $20.00 target price on shares of Evertec in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $17.83.

Evertec (EVTC) remained flat at $$13.35 during mid-day trading on Thursday. 533,306 shares of the company’s stock were exchanged, compared to its average volume of 433,066. The firm has a market cap of $1,031.56, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 1.81 and a beta of 1.18. The company has a debt-to-equity ratio of 4.22, a current ratio of 1.22 and a quick ratio of 1.22. Evertec has a 1-year low of $13.15 and a 1-year high of $19.52.

Evertec (NYSE:EVTC) last released its earnings results on Tuesday, November 7th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.08). The firm had revenue of $102.70 million during the quarter, compared to the consensus estimate of $97.11 million. Evertec had a return on equity of 98.50% and a net margin of 15.92%. Evertec’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. analysts anticipate that Evertec will post 1.58 EPS for the current fiscal year.

WARNING: “Evertec, Inc. (EVTC) Upgraded by ValuEngine to Buy” was reported by Watch List News and is owned by of Watch List News. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this news story can be viewed at https://www.watchlistnews.com/evertec-inc-evtc-upgraded-by-valuengine-to-buy/1694438.html.

A number of hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. increased its stake in Evertec by 0.7% in the 2nd quarter. Bessemer Group Inc. now owns 86,700 shares of the business services provider’s stock worth $1,500,000 after buying an additional 600 shares during the period. Principal Financial Group Inc. increased its stake in Evertec by 7.5% in the 1st quarter. Principal Financial Group Inc. now owns 38,689 shares of the business services provider’s stock worth $615,000 after buying an additional 2,699 shares during the period. California Public Employees Retirement System increased its stake in Evertec by 2.0% in the 2nd quarter. California Public Employees Retirement System now owns 135,800 shares of the business services provider’s stock worth $2,349,000 after buying an additional 2,700 shares during the period. PNC Financial Services Group Inc. increased its stake in Evertec by 0.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 409,917 shares of the business services provider’s stock worth $7,091,000 after buying an additional 3,198 shares during the period. Finally, Voya Investment Management LLC increased its position in Evertec by 12.9% during the 2nd quarter. Voya Investment Management LLC now owns 28,618 shares of the business services provider’s stock valued at $495,000 after purchasing an additional 3,267 shares during the period. 79.62% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Evertec (NYSE:EVTC)

Receive News & Ratings for Evertec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evertec Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.