Evertec, Inc. (NYSE:EVTC) Receives Average Rating of “Moderate Buy” from Analysts

Evertec, Inc. (NYSE:EVTC) has earned an average rating of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $35.80.

A number of research analysts have recently commented on EVTC shares. Zacks Research upgraded shares of Evertec from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Keefe, Bruyette & Woods decreased their price objective on Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Evertec in a research note on Monday, December 29th. Morgan Stanley cut their price objective on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 12th. Finally, Susquehanna reduced their target price on Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, November 7th.

Evertec Trading Up 0.7%

Shares of EVTC stock opened at $30.38 on Thursday. The company has a market cap of $1.94 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.14 and a beta of 0.88. The stock’s 50 day simple moving average is $29.15 and its two-hundred day simple moving average is $32.20. Evertec has a 1 year low of $26.72 and a 1 year high of $38.56. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.91 and a quick ratio of 2.91.

Evertec Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 3rd were given a $0.05 dividend. The ex-dividend date was Monday, November 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. Evertec’s payout ratio is 8.89%.

Institutional Investors Weigh In On Evertec

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC grew its position in shares of Evertec by 443.9% in the fourth quarter. SG Americas Securities LLC now owns 42,505 shares of the business services provider’s stock valued at $1,236,000 after purchasing an additional 34,690 shares in the last quarter. Diversified Trust Co. boosted its position in Evertec by 20.0% in the 4th quarter. Diversified Trust Co. now owns 7,860 shares of the business services provider’s stock valued at $229,000 after buying an additional 1,310 shares during the period. CIBC Bancorp USA Inc. purchased a new position in Evertec in the third quarter valued at $232,000. Advisory Services Network LLC acquired a new position in shares of Evertec during the third quarter worth about $59,000. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Evertec by 2.1% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 70,394 shares of the business services provider’s stock valued at $2,422,000 after purchasing an additional 1,440 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

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.