ValuEngine Upgrades Evertec, Inc. (EVTC) to Buy
ValuEngine upgraded shares of Evertec, Inc. (NYSE:EVTC) from a hold rating to a buy rating in a research note released on Thursday morning.
A number of other research firms have also recently weighed in on EVTC. BidaskClub raised shares of Evertec from a sell rating to a hold rating in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of Evertec from a buy rating to a hold rating in a research report on Thursday, August 10th. Cowen and Company reiterated a hold rating and set a $20.00 target price on shares of Evertec in a report on Thursday, October 12th. Morgan Stanley reduced their target price on shares of Evertec from $18.00 to $17.00 and set an equal weight rating on the stock in a report on Thursday, October 19th. Finally, TheStreet lowered shares of Evertec from a b- rating to a c+ rating in a report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Evertec has an average rating of Hold and a consensus price target of $17.83.
Evertec (EVTC) remained flat at $$13.35 during trading hours on Thursday. The company had a trading volume of 533,800 shares, compared to its average volume of 433,068. The company has a debt-to-equity ratio of 4.08, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $966.41, a PE ratio of 8.09, a PEG ratio of 1.84 and a beta of 1.18. Evertec has a 52 week low of $13.15 and a 52 week high of $19.52.
Evertec (NYSE:EVTC) last posted its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.08). The company had revenue of $102.70 million for the quarter, compared to analysts’ expectations of $97.11 million. Evertec had a return on equity of 95.54% and a net margin of 15.92%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 EPS. analysts forecast that Evertec will post 1.46 EPS for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc purchased a new position in shares of Evertec in the 2nd quarter valued at $108,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Evertec by 497.5% in the second quarter. BNP Paribas Arbitrage SA now owns 7,062 shares of the business services provider’s stock valued at $122,000 after acquiring an additional 5,880 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Evertec in the third quarter valued at about $146,000. Koch Industries Inc. lifted its stake in shares of Evertec by 1,753.1% in the second 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. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Evertec in the third quarter valued at about $189,000. Institutional investors and hedge funds own 82.91% of the company’s stock.
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.
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