Susquehanna Cuts Evertec (NYSE:EVTC) Price Target to $32.00

Evertec (NYSE:EVTC) had its price objective lowered by Susquehanna from $37.00 to $32.00 in a research note published on Friday morning,Benzinga reports. Susquehanna currently has a neutral rating on the business services provider’s stock.

A number of other equities analysts have also weighed in on EVTC. Deutsche Bank Aktiengesellschaft started coverage on shares of Evertec in a research report on Thursday, July 17th. They issued a “hold” rating and a $35.00 price objective on the stock. Zacks Research downgraded shares of Evertec from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Raymond James Financial reissued an “outperform” rating and issued a $43.00 price target (up from $42.00) on shares of Evertec in a report on Thursday, July 31st. Morgan Stanley reduced their target price on Evertec from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Evertec in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $37.60.

Evertec Price Performance

Shares of NYSE EVTC opened at $27.56 on Friday. The stock’s 50-day moving average is $31.99 and its two-hundred day moving average is $34.40. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.20 and a quick ratio of 2.20. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 1.43 and a beta of 0.91. Evertec has a 1-year low of $26.78 and a 1-year high of $38.56.

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

Evertec Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 3rd will be paid a $0.05 dividend. The ex-dividend date is Monday, November 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. Evertec’s dividend payout ratio is 8.89%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EVTC. TD Private Client Wealth LLC grew its holdings in shares of Evertec by 19.3% during the first quarter. TD Private Client Wealth LLC now owns 1,855 shares of the business services provider’s stock valued at $68,000 after buying an additional 300 shares in the last quarter. Amalgamated Bank lifted its position in shares of Evertec by 2.2% in the third quarter. Amalgamated Bank now owns 18,633 shares of the business services provider’s stock worth $629,000 after purchasing an additional 408 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Evertec by 0.7% during the second quarter. California State Teachers Retirement System now owns 59,159 shares of the business services provider’s stock worth $2,133,000 after purchasing an additional 417 shares during the period. Richardson Financial Services Inc. increased its stake in Evertec by 132.6% in the 3rd quarter. Richardson Financial Services Inc. now owns 763 shares of the business services provider’s stock valued at $26,000 after buying an additional 435 shares during the period. Finally, Blue Trust Inc. lifted its position in Evertec by 28.6% in the 2nd quarter. Blue Trust Inc. now owns 1,958 shares of the business services provider’s stock worth $71,000 after buying an additional 436 shares in the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.

About Evertec

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.