Susquehanna Issues Pessimistic Forecast for Evertec (NYSE:EVTC) Stock Price

Evertec (NYSE:EVTC) had its target price decreased by equities research analysts at Susquehanna from $37.00 to $32.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Susquehanna’s target price suggests a potential upside of 15.07% from the company’s current price.

Several other analysts have also commented on the stock. Raymond James Financial restated an “outperform” rating and set a $43.00 price target (up previously from $42.00) on shares of Evertec in a research report on Thursday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Evertec in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Evertec in a research note on Thursday, July 17th. They issued a “hold” rating and a $35.00 price target for the company. Zacks Research downgraded Evertec from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Morgan Stanley dropped their price objective on Evertec from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.60.

Evertec Stock Performance

Shares of NYSE:EVTC traded down $0.28 during trading on Friday, hitting $27.81. The stock had a trading volume of 129,714 shares, compared to its average volume of 330,620. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.49. Evertec has a 12-month low of $26.78 and a 12-month high of $38.56. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.43 and a beta of 0.91. The stock has a 50-day simple moving average of $32.16 and a two-hundred day simple moving average of $34.41.

Evertec (NYSE:EVTC) last posted its earnings results on Thursday, November 6th. The business services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Evertec had a net margin of 15.56% and a return on equity of 36.67%. The company had revenue of $227.93 million during the quarter, compared to the consensus estimate of $224.68 million. During the same period in the previous year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. Evertec has set its FY 2025 guidance at 3.560-3.620 EPS. On average, equities research analysts expect that Evertec will post 2.63 earnings per share for the current fiscal year.

Institutional Trading of Evertec

Several large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in shares of Evertec by 55.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,180 shares of the business services provider’s stock valued at $414,000 after purchasing an additional 3,980 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Evertec during the 1st quarter worth $558,000. Principal Financial Group Inc. boosted its position in shares of Evertec by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 317,649 shares of the business services provider’s stock valued at $11,680,000 after acquiring an additional 7,125 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Evertec by 0.7% in the first quarter. Envestnet Asset Management Inc. now owns 332,121 shares of the business services provider’s stock valued at $12,212,000 after purchasing an additional 2,439 shares during the period. Finally, TD Private Client Wealth LLC increased its position in Evertec by 19.3% during the first quarter. TD Private Client Wealth LLC now owns 1,855 shares of the business services provider’s stock worth $68,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

About Evertec

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.