Evertec, Inc. (NYSE:EVTC) Given Average Recommendation of “Hold” by Brokerages

Evertec, Inc. (NYSE:EVTC) has been given a consensus rating of “Hold” by the eight research firms that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $39.00.

A number of research analysts have recently issued reports on EVTC shares. Morgan Stanley cut their price target on Evertec from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. Zacks Research lowered Evertec from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Evertec in a report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of Evertec in a research report on Thursday, July 17th. They set a “hold” rating and a $35.00 price target for the company. Finally, Raymond James Financial restated 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.

Evertec Price Performance

Shares of EVTC opened at $32.62 on Tuesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.20 and a current ratio of 2.20. The company has a 50 day moving average price of $34.80 and a 200-day moving average price of $35.21. Evertec has a fifty-two week low of $31.41 and a fifty-two week high of $38.56. The stock has a market capitalization of $2.09 billion, a PE ratio of 15.39, a PEG ratio of 1.59 and a beta of 0.93.

Evertec (NYSE:EVTC) last issued its quarterly earnings data on Wednesday, July 30th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.03. The company had revenue of $229.61 million for the quarter, compared to analyst estimates of $222.23 million. Evertec had a net margin of 15.56% and a return on equity of 36.67%. Evertec’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $0.83 earnings per share. Evertec has set its FY 2025 guidance at 3.440-3.520 EPS. Equities analysts predict that Evertec will post 2.63 earnings per share for the current fiscal year.

Evertec Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Monday, August 4th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, August 4th. Evertec’s payout ratio is currently 9.43%.

Institutional Trading of Evertec

A number of institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in Evertec by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 317,649 shares of the business services provider’s stock worth $11,680,000 after buying an additional 7,125 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Evertec by 55.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,180 shares of the business services provider’s stock worth $414,000 after acquiring an additional 3,980 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Evertec by 39.2% during the first quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 429 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Evertec by 44.7% in the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 525 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Evertec by 4,773.8% in the 1st quarter. GAMMA Investing LLC now owns 14,524 shares of the business services provider’s stock worth $534,000 after purchasing an additional 14,226 shares in the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

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.