Evertec (NYSE:EVTC) Price Target Lowered to $40.00 at Keefe, Bruyette & Woods

Evertec (NYSE:EVTC) had its price objective decreased by equities research analysts at Keefe, Bruyette & Woods from $44.00 to $40.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 48.82% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Morgan Stanley dropped their price objective on Evertec from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. Raymond James Financial restated an “outperform” rating and set a $43.00 price target (up previously from $42.00) on shares of Evertec in a research note on Thursday, July 31st. Susquehanna reduced their price objective on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday. Zacks Research downgraded shares of Evertec from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Evertec in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Evertec currently has an average rating of “Hold” and an average target price of $36.80.

Evertec Trading Down 1.5%

Evertec stock traded down $0.42 during midday trading on Monday, reaching $26.88. The stock had a trading volume of 151,999 shares, compared to its average volume of 333,465. The firm’s fifty day simple moving average is $31.99 and its two-hundred day simple moving average is $34.40. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.43 and a beta of 0.91. Evertec has a twelve month low of $26.73 and a twelve month high of $38.56. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.20 and a quick ratio of 2.20.

Evertec (NYSE:EVTC) last posted its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The firm had revenue of $227.93 million for the quarter, compared to analyst estimates of $224.68 million. Evertec had a return on equity of 36.67% and a net margin of 15.56%.Evertec’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 earnings per share. Evertec has set its FY 2025 guidance at 3.560-3.620 EPS. Equities analysts anticipate that Evertec will post 2.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Evertec

Hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. increased its position in Evertec by 1.0% during 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 acquiring an additional 46,147 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position 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 last quarter. Geode Capital Management LLC increased its holdings in shares of Evertec by 0.6% during 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. raised its position in shares of Evertec by 3.0% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,155,394 shares of the business services provider’s stock valued at $42,484,000 after buying an additional 33,832 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Evertec by 7.1% in the first quarter. Northern Trust Corp now owns 907,660 shares of the business services provider’s stock valued at $33,375,000 after buying an additional 60,484 shares during the period. Institutional investors and hedge funds own 96.80% of the company’s stock.

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.