ValuEngine Upgrades Evertec, Inc. (EVTC) to “Buy”
Evertec, Inc. (NYSE:EVTC) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Monday.
Several other research firms have also commented on EVTC. BidaskClub lowered Evertec from a “hold” rating to a “sell” rating in a research report on Thursday. Stifel Nicolaus upgraded Evertec from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Thursday. Finally, Zacks Investment Research downgraded shares of Evertec from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.25.
Shares of Evertec (NYSE:EVTC) traded up 2.21% during midday trading on Monday, reaching $16.20. The company’s stock had a trading volume of 1,288,070 shares. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 15.15 and a beta of 1.21. Evertec has a 52 week low of $14.15 and a 52 week high of $19.52. The firm’s 50 day moving average is $18.00 and its 200 day moving average is $17.03.
Evertec (NYSE:EVTC) last issued its earnings results on Tuesday, August 1st. The business services provider reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. Evertec had a return on equity of 107.21% and a net margin of 19.64%. The company had revenue of $103.51 million during the quarter, compared to the consensus estimate of $100.21 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. Equities analysts forecast that Evertec will post $1.64 EPS for the current fiscal year.
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Several institutional investors have recently made changes to their positions in the company. Thompson Siegel & Walmsley LLC increased its position in shares of Evertec by 23.8% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,007,542 shares of the business services provider’s stock worth $17,430,000 after acquiring an additional 193,908 shares during the last quarter. Heartland Advisors Inc. lifted its stake in shares of Evertec by 13.7% in the second quarter. Heartland Advisors Inc. now owns 559,600 shares of the business services provider’s stock worth $9,681,000 after acquiring an additional 67,525 shares in the last quarter. Morgan Stanley lifted its stake in shares of Evertec by 4.9% in the first quarter. Morgan Stanley now owns 692,634 shares of the business services provider’s stock worth $11,012,000 after acquiring an additional 32,348 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Evertec by 72.8% in the first quarter. Goldman Sachs Group Inc. now owns 417,950 shares of the business services provider’s stock worth $6,645,000 after acquiring an additional 176,052 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its stake in shares of Evertec by 14.8% in the second quarter. Federated Investors Inc. PA now owns 764,041 shares of the business services provider’s stock worth $13,217,000 after acquiring an additional 98,649 shares in the last quarter. 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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