Evertec, Inc. (NYSE:EVTC) Receives $35.80 Average Target Price from Analysts

Evertec, Inc. (NYSE:EVTC) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $35.80.

Several equities research analysts recently commented on the stock. Susquehanna cut their price objective 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. Keefe, Bruyette & Woods cut their price target on Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Morgan Stanley decreased their price objective on Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Evertec in a research report on Monday, December 29th. Finally, Zacks Research raised Evertec from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th.

Evertec Stock Performance

Shares of EVTC stock opened at $30.17 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 2.91 and a current ratio of 2.91. Evertec has a 52 week low of $26.72 and a 52 week high of $38.56. The company’s 50 day moving average price is $29.11 and its two-hundred day moving average price is $32.27. The company has a market capitalization of $1.93 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 1.14 and a beta of 0.88.

Evertec Announces Dividend

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

Institutional Investors Weigh In On Evertec

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVTC. USA Financial Formulas acquired a new position in shares of Evertec during the 2nd quarter worth about $26,000. Richardson Financial Services Inc. boosted its position in Evertec by 132.6% during the third quarter. Richardson Financial Services Inc. now owns 763 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 435 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Evertec by 479.1% in the second quarter. Parkside Financial Bank & Trust now owns 1,355 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 1,121 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in Evertec in the third quarter valued at approximately $52,000. Finally, Advisory Services Network LLC acquired a new position in shares of Evertec during the 3rd quarter worth approximately $59,000. 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.