Evertec Inc (EVTC) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Evertec Inc (NYSE:EVTC) from a hold rating to a buy rating in a research report report published on Tuesday. The firm currently has $18.00 target price on the business services provider’s stock.
According to Zacks, “Evertec, Inc. is engaged in transaction processing business primarily in Latin America and the Caribbean. The Company operates through divisions which consist of Merchant Acquiring Solutions, Payment Processing and Business Solutions. It offers ATH network, payment processing, card products processing, electronic benefit transfer services, information technology services, database management services, printing centre and document mailing, cash processing, business processes outsourcing services as well as payment solutions, point-of-sale systems and accessories to receive payments. Evertec, Inc. is based in San Juan, Puerto Rico. “
A number of other brokerages have also weighed in on EVTC. ValuEngine lowered Evertec from a buy rating to a hold rating in a research note on Tuesday, September 26th. BidaskClub downgraded shares of Evertec from a hold rating to a sell rating in a research report on Thursday, September 28th. Finally, Stifel Nicolaus upgraded shares of Evertec from a hold rating to a buy rating and set a $18.00 price target on the stock in a research report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $18.50.
Evertec (EVTC) traded up 0.63% during trading on Tuesday, reaching $15.95. 136,616 shares of the company’s stock traded hands. Evertec has a 12 month low of $14.15 and a 12 month high of $19.52. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 14.92 and a beta of 1.20. The firm’s 50 day moving average is $17.92 and its 200-day moving average is $17.03.
Evertec (NYSE:EVTC) last issued its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.02. The firm had revenue of $103.51 million during the quarter, compared to the consensus estimate of $100.21 million. Evertec had a return on equity of 63.93% and a net margin of 19.53%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. Analysts expect that Evertec will post $1.64 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 7th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, August 3rd. Evertec’s dividend payout ratio (DPR) is presently 37.74%.
Institutional investors and hedge funds have recently made changes to their positions in the business. North Star Asset Management Inc. raised its holdings in Evertec by 0.8% during the 2nd quarter. North Star Asset Management Inc. now owns 770,296 shares of the business services provider’s stock worth $13,325,000 after purchasing an additional 6,490 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Evertec during the 2nd quarter valued at about $523,000. Koch Industries Inc. lifted its position in Evertec by 1,753.1% during the 2nd quarter. Koch Industries Inc. now owns 196,889 shares of the business services provider’s stock valued at $186,000 after purchasing an additional 186,264 shares during the period. Polaris Capital Management LLC lifted its position in Evertec by 22.2% during the 2nd quarter. Polaris Capital Management LLC now owns 154,600 shares of the business services provider’s stock valued at $2,675,000 after purchasing an additional 28,100 shares during the period. Finally, DF Dent & Co. Inc. lifted its position in Evertec by 83.4% during the 2nd quarter. DF Dent & Co. Inc. now owns 19,866 shares of the business services provider’s stock valued at $344,000 after purchasing an additional 9,034 shares during the period. Hedge funds and other institutional investors own 77.96% of the company’s stock.
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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