Evertec (NYSE:EVTC) Stock Rating Lowered by Zacks Research

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

A number of other equities analysts have also weighed in on the company. Raymond James Financial reissued an “outperform” rating and issued a $43.00 target price (up previously from $42.00) on shares of Evertec in a research report on Thursday, July 31st. Morgan Stanley reduced their price target on shares of Evertec from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Evertec in a research report on Thursday, July 17th. They set a “hold” rating and a $35.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Evertec currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Evertec Price Performance

Shares of NYSE:EVTC opened at $33.75 on Monday. Evertec has a fifty-two week low of $31.41 and a fifty-two week high of $38.56. The business has a 50-day simple moving average of $34.82 and a two-hundred day simple moving average of $35.29. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.20 and a current ratio of 2.20. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 1.68 and a beta of 0.93.

Evertec (NYSE:EVTC) last issued its earnings results on Wednesday, July 30th. The business services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. Evertec had a return on equity of 36.67% and a net margin of 15.56%.The business had revenue of $229.61 million during the quarter, compared to analyst estimates of $222.23 million. During the same quarter in the previous year, the firm earned $0.83 EPS. Evertec’s revenue was up 8.3% on a year-over-year basis. Evertec has set its FY 2025 guidance at 3.440-3.520 EPS. On average, analysts expect that Evertec will post 2.63 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its stake in Evertec by 1.0% in the 2nd quarter. American Century Companies Inc. now owns 4,558,374 shares of the business services provider’s stock worth $164,329,000 after purchasing an additional 46,147 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Evertec by 1.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,473,953 shares of the business services provider’s stock worth $127,737,000 after purchasing an additional 65,793 shares during the period. Geode Capital Management LLC boosted its stake in Evertec by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,476,778 shares of the business services provider’s stock worth $53,245,000 after purchasing an additional 9,506 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in Evertec by 3.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,155,394 shares of the business services provider’s stock worth $42,484,000 after purchasing an additional 33,832 shares during the period. Finally, Northern Trust Corp boosted its stake in Evertec by 7.1% in the 1st quarter. Northern Trust Corp now owns 907,660 shares of the business services provider’s stock worth $33,375,000 after purchasing an additional 60,484 shares during the period. 96.80% of the stock is currently owned by institutional investors.

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.