EVERTEC (NYSE:EVTC) PT Lowered to $38.00

EVERTEC (NYSE:EVTC) had its target price reduced by analysts at Susquehanna from $41.00 to $38.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. Susquehanna’s price objective suggests a potential upside of 10.30% from the company’s current price.

Separately, Keefe, Bruyette & Woods cut their target price on EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.67.

EVERTEC Stock Up 0.1 %

EVTC stock opened at $34.45 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.84. The firm has a 50-day moving average of $33.66 and a two-hundred day moving average of $36.96. EVERTEC has a 12 month low of $28.76 and a 12 month high of $42.21. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 1.98 and a beta of 1.13.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.54 by $0.09. The firm had revenue of $205.32 million during the quarter, compared to analysts’ expectations of $200.75 million. EVERTEC had a return on equity of 29.86% and a net margin of 8.87%. As a group, analysts forecast that EVERTEC will post 2.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Wakefield Asset Management LLLP grew its holdings in shares of EVERTEC by 11.2% during the 4th quarter. Wakefield Asset Management LLLP now owns 22,794 shares of the business services provider’s stock worth $933,000 after purchasing an additional 2,287 shares during the period. Equitable Trust Co. boosted its stake in EVERTEC by 7.1% during the fourth quarter. Equitable Trust Co. now owns 10,956 shares of the business services provider’s stock worth $449,000 after buying an additional 731 shares during the period. AlphaQ Advisors LLC acquired a new stake in shares of EVERTEC during the fourth quarter valued at about $231,000. Louisiana State Employees Retirement System purchased a new stake in shares of EVERTEC in the 4th quarter valued at approximately $1,347,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of EVERTEC by 17.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,535 shares of the business services provider’s stock worth $636,000 after acquiring an additional 2,316 shares during the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

EVERTEC Company Profile

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.