Evertec (NYSE:EVTC) Shares Gap Down – Time to Sell?

Shares of Evertec, Inc. (NYSE:EVTC) gapped down before the market opened on Wednesday . The stock had previously closed at $30.21, but opened at $28.39. Evertec shares last traded at $28.5850, with a volume of 4,901 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Zacks Research downgraded shares of Evertec from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Evertec in a research report on Monday, December 29th. Susquehanna dropped their target price on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Wall Street Zen downgraded Evertec from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.80.

Evertec Stock Performance

The firm has a fifty day simple moving average of $29.45 and a 200-day simple moving average of $31.53. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.15 and a beta of 0.86. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 1.59.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. lifted its stake in shares of Evertec by 1.0% in the second quarter. American Century Companies Inc. now owns 4,558,374 shares of the business services provider’s stock worth $164,329,000 after buying 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 worth $605,000 after acquiring an additional 3,991 shares during the last quarter. Clifford Capital Partners LLC lifted its position in Evertec by 3.0% in the 2nd quarter. Clifford Capital Partners LLC now owns 435,431 shares of the business services provider’s stock valued at $15,697,000 after acquiring an additional 12,880 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Evertec in the 2nd quarter worth $879,000. Finally, Willis Investment Counsel boosted its position in shares of Evertec by 63.2% during the second quarter. Willis Investment Counsel now owns 62,033 shares of the business services provider’s stock valued at $2,236,000 after buying an additional 24,011 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors.

About Evertec

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.