Evertec, Inc. (NYSE:EVTC) had its price target cut by investment analysts at Morgan Stanley from $18.00 to $17.00 in a research report issued on Thursday, October 19th. The brokerage presently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 16.84% from the company’s current price.
A number of other brokerages have also recently issued reports on EVTC. BidaskClub raised Evertec from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research cut Evertec from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. ValuEngine raised Evertec from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Cowen and Company reaffirmed a “hold” rating and set a $20.00 price objective on shares of Evertec in a research report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Evertec presently has a consensus rating of “Hold” and a consensus price target of $18.40.
Evertec (NYSE EVTC) traded up 1.39% on Thursday, hitting $14.55. 763,071 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $16.20 and a 200-day moving average price of $16.91. Evertec has a 12 month low of $14.15 and a 12 month high of $19.52. The stock has a market cap of $1.05 billion, a P/E ratio of 13.61 and a beta of 1.20.
Evertec (NYSE:EVTC) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Evertec had a return on equity of 107.21% and a net margin of 19.64%. The business had revenue of $103.51 million for the quarter, compared to the consensus estimate of $100.21 million. During the same quarter in the prior year, the business posted $0.43 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts predict that Evertec will post $1.59 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parametrica Management Ltd purchased a new position in Evertec during the third quarter worth $333,000. Heartland Advisors Inc. increased its position in Evertec by 14.5% during the third quarter. Heartland Advisors Inc. now owns 640,600 shares of the business services provider’s stock worth $10,154,000 after buying an additional 81,000 shares in the last quarter. First Quadrant L P CA increased its position in Evertec by 1,213.1% during the third quarter. First Quadrant L P CA now owns 128,145 shares of the business services provider’s stock worth $2,031,000 after buying an additional 118,386 shares in the last quarter. First Trust Advisors LP increased its position in Evertec by 560.1% during the third quarter. First Trust Advisors LP now owns 66,237 shares of the business services provider’s stock worth $1,050,000 after buying an additional 56,202 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Evertec during the third quarter worth $189,000. 78.19% of the stock is owned by hedge funds and other institutional investors.
EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.
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