Evertec, Inc. (EVTC) Cut to “Hold” at Zacks Investment Research

Evertec, Inc. (NYSE:EVTC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.

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 equities analysts have also weighed in on the company. ValuEngine upgraded Evertec from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. BidaskClub lowered Evertec from a “hold” rating to a “sell” rating in a research note on Thursday, September 28th. Finally, Stifel Nicolaus upgraded Evertec from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $18.50.

Evertec (NYSE EVTC) remained flat at $15.85 during mid-day trading on Monday. 340,378 shares of the stock were exchanged. The firm has a 50 day moving average of $17.59 and a 200-day moving average of $17.01. The stock has a market cap of $1.15 billion, a P/E ratio of 14.83 and a beta of 1.21. Evertec has a 1-year low of $14.15 and a 1-year high of $19.52.

Evertec (NYSE:EVTC) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.02. The business had revenue of $103.51 million during the quarter, compared to analyst estimates of $100.21 million. Evertec had a return on equity of 107.21% and a net margin of 19.64%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. On average, equities research analysts forecast that Evertec will post $1.63 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Evertec, Inc. (EVTC) Cut to “Hold” at Zacks Investment Research” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another domain, it was copied illegally and republished in violation of United States & international copyright legislation. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/09/evertec-inc-evtc-cut-to-hold-at-zacks-investment-research.html.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thompson Siegel & Walmsley LLC raised its stake in shares of Evertec by 23.8% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,007,542 shares of the business services provider’s stock valued at $17,430,000 after buying an additional 193,908 shares during the last quarter. Heartland Advisors Inc. grew its position in shares of Evertec by 13.7% during the 2nd quarter. Heartland Advisors Inc. now owns 559,600 shares of the business services provider’s stock valued at $9,681,000 after acquiring an additional 67,525 shares during the period. Federated Investors Inc. PA grew its position in shares of Evertec by 14.8% during the 2nd quarter. Federated Investors Inc. PA now owns 764,041 shares of the business services provider’s stock valued at $13,217,000 after acquiring an additional 98,649 shares during the period. AXA grew its position in shares of Evertec by 45.2% during the 2nd quarter. AXA now owns 236,500 shares of the business services provider’s stock valued at $4,091,000 after acquiring an additional 73,600 shares during the period. Finally, Capital Fund Management S.A. acquired a new stake in shares of Evertec during the 2nd quarter valued at about $456,000. Institutional investors and hedge funds own 77.96% of the company’

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 equities analysts have also weighed in on the company. ValuEngine upgraded Evertec from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. BidaskClub lowered Evertec from a “hold” rating to a “sell” rating in a research note on Thursday, September 28th. Finally, Stifel Nicolaus upgraded Evertec from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $18.50.

Evertec (NYSE EVTC) remained flat at $15.85 during mid-day trading on Monday. 340,378 shares of the stock were exchanged. The firm has a 50 day moving average of $17.59 and a 200-day moving average of $17.01. The stock has a market cap of $1.15 billion, a P/E ratio of 14.83 and a beta of 1.21. Evertec has a 1-year low of $14.15 and a 1-year high of $19.52.

Evertec (NYSE:EVTC) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.02. The business had revenue of $103.51 million during the quarter, compared to analyst estimates of $100.21 million. Evertec had a return on equity of 107.21% and a net margin of 19.64%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. On average, equities research analysts forecast that Evertec will post $1.63 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Evertec, Inc. (EVTC) Cut to “Hold” at Zacks Investment Research” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another domain, it was copied illegally and republished in violation of United States & international copyright legislation. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/09/evertec-inc-evtc-cut-to-hold-at-zacks-investment-research.html.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thompson Siegel & Walmsley LLC raised its stake in shares of Evertec by 23.8% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,007,542 shares of the business services provider’s stock valued at $17,430,000 after buying an additional 193,908 shares during the last quarter. Heartland Advisors Inc. grew its position in shares of Evertec by 13.7% during the 2nd quarter. Heartland Advisors Inc. now owns 559,600 shares of the business services provider’s stock valued at $9,681,000 after acquiring an additional 67,525 shares during the period. Federated Investors Inc. PA grew its position in shares of Evertec by 14.8% during the 2nd quarter. Federated Investors Inc. PA now owns 764,041 shares of the business services provider’s stock valued at $13,217,000 after acquiring an additional 98,649 shares during the period. AXA grew its position in shares of Evertec by 45.2% during the 2nd quarter. AXA now owns 236,500 shares of the business services provider’s stock valued at $4,091,000 after acquiring an additional 73,600 shares during the period. Finally, Capital Fund Management S.A. acquired a new stake in shares of Evertec during the 2nd quarter valued at about $456,000. Institutional investors and hedge funds own 77.96% 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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