Zacks Research Upgrades Evertec (NYSE:EVTC) to Strong-Buy

Evertec (NYSE:EVTC) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. Morgan Stanley decreased their price objective on Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday, November 12th. Susquehanna decreased their price objective on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Evertec in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Evertec has a consensus rating of “Moderate Buy” and an average price target of $35.80.

Evertec Price Performance

NYSE EVTC opened at $29.13 on Monday. The stock has a 50-day simple moving average of $29.18 and a 200 day simple moving average of $32.62. The stock has a market capitalization of $1.86 billion, a PE ratio of 12.95, a P/E/G ratio of 1.17 and a beta of 0.89. The company has a debt-to-equity ratio of 1.59, a quick ratio of 2.91 and a current ratio of 2.91. Evertec has a twelve month low of $26.72 and a twelve month high of $38.56.

Institutional Investors Weigh In On Evertec

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its stake in shares of Evertec by 1.0% during the second quarter. American Century Companies Inc. now owns 4,558,374 shares of the business services provider’s stock valued at $164,329,000 after purchasing an additional 46,147 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Evertec by 31.1% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 16,825 shares of the business services provider’s stock valued at $605,000 after buying an additional 3,991 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Evertec during the 2nd quarter worth approximately $879,000. Willis Investment Counsel grew its holdings in Evertec by 63.2% during the 2nd quarter. Willis Investment Counsel now owns 62,033 shares of the business services provider’s stock worth $2,236,000 after acquiring an additional 24,011 shares during the last quarter. Finally, Clifford Capital Partners LLC grew its holdings in Evertec by 3.0% during the 2nd quarter. Clifford Capital Partners LLC now owns 435,431 shares of the business services provider’s stock worth $15,697,000 after acquiring an additional 12,880 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors.

Evertec Company Profile

Evertec, Inc (NYSE: EVTC) is a leading full‐service transaction processor in Puerto Rico, Latin America and the Caribbean. The company delivers integrated technology solutions for electronic payments, providing financial institutions, merchants and governments with secure and scalable platforms to accept, process and settle transactions across card, ATM, debit and digital channels. Headquartered in San Juan, Puerto Rico, Evertec supports both domestic and cross‐border payment flows, enabling clients to streamline operations and expand their digital commerce capabilities.

Evertec’s suite of services includes merchant acquiring, payment gateway connectivity, ATM and point‐of‐sale network management, and fraud prevention solutions.