Evertec (NYSE:EVTC) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Evertec, Inc. (NYSE:EVTC) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $29.25 and traded as high as $30.28. Evertec shares last traded at $30.1840, with a volume of 438,839 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EVTC. Keefe, Bruyette & Woods lowered their target price on Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Susquehanna reduced their price objective on Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Evertec in a report on Monday, December 29th. Morgan Stanley dropped their target price on Evertec from $34.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 12th. Finally, Zacks Research upgraded Evertec from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.80.

Evertec Trading Down 1.8%

The business has a 50 day moving average of $29.29 and a two-hundred day moving average of $32.05. The firm has a market cap of $1.89 billion, a P/E ratio of 13.14, a PEG ratio of 1.12 and a beta of 0.88. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 1.59.

Evertec Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 3rd were paid a $0.05 dividend. The ex-dividend date was 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%.

Hedge Funds Weigh In On Evertec

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lido Advisors LLC increased its stake in Evertec by 4.3% in the third quarter. Lido Advisors LLC now owns 8,746 shares of the business services provider’s stock valued at $295,000 after acquiring an additional 363 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Evertec by 2.2% in the 3rd quarter. Amalgamated Bank now owns 18,633 shares of the business services provider’s stock valued at $629,000 after purchasing an additional 408 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Evertec by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 59,159 shares of the business services provider’s stock valued at $2,133,000 after purchasing an additional 417 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Evertec by 132.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 763 shares of the business services provider’s stock worth $26,000 after buying an additional 435 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Evertec by 28.6% during 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.

Evertec Company Profile

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.