Zacks Investment Research upgraded shares of Evertec (NYSE:EVTC) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday.

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 research firms have also weighed in on EVTC. ValuEngine lowered shares of Evertec from a buy rating to a hold rating in a research report on Tuesday, September 26th. BidaskClub lowered shares of Evertec from a hold rating to a sell rating in a research report on Thursday, September 28th. J P Morgan Chase & Co lowered shares of Evertec from a neutral rating to an underweight rating in a research report on Tuesday, December 12th. Stifel Nicolaus raised 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. Finally, Cowen reissued a hold rating and issued a $20.00 price target on shares of Evertec in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Evertec has an average rating of Hold and an average price target of $17.83.

Shares of Evertec (NYSE EVTC) traded up $0.20 during midday trading on Tuesday, reaching $13.40. 826,300 shares of the company were exchanged, compared to its average volume of 471,959. Evertec has a fifty-two week low of $12.60 and a fifty-two week high of $19.52. The company has a market capitalization of $955.55, a P/E ratio of 8.00, a PEG ratio of 1.81 and a beta of 1.14. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.00 and a quick ratio of 1.00.

Evertec (NYSE:EVTC) last posted its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). The company had revenue of $102.70 million during the quarter, compared to analyst estimates of $97.11 million. Evertec had a return on equity of 95.54% and a net margin of 15.92%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share. analysts anticipate that Evertec will post 1.46 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new position in shares of Evertec in the 3rd quarter worth approximately $246,000. Algert Global LLC raised its stake in Evertec by 23.0% during the 3rd quarter. Algert Global LLC now owns 142,988 shares of the business services provider’s stock worth $2,266,000 after acquiring an additional 26,771 shares during the period. DF Dent & Co. Inc. raised its stake in Evertec by 38.5% during the 3rd quarter. DF Dent & Co. Inc. now owns 27,519 shares of the business services provider’s stock worth $436,000 after acquiring an additional 7,653 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Evertec by 78.0% during the third quarter. Cubist Systematic Strategies LLC now owns 20,370 shares of the business services provider’s stock valued at $323,000 after buying an additional 8,929 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in shares of Evertec during the third quarter valued at approximately $416,000. 79.34% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Evertec (NYSE:EVTC)

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