Evertec (EVTC) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Evertec (NYSE:EVTC) from a hold rating to a sell rating in a research report report published on Thursday.

According to Zacks, “Evertec, Inc. is engaged in transaction processing business primarily in Latin America and the Caribbean. The Company operates through divisions which consist of Merchant Acquiring Solutions, Payment Processing and Business Solutions. It offers ATH network, payment processing, card products processing, electronic benefit transfer services, information technology services, database management services, printing centre and document mailing, cash processing, business processes outsourcing services as well as payment solutions, point-of-sale systems and accessories to receive payments. Evertec, Inc. is based in San Juan, Puerto Rico. “

Several other equities analysts also recently weighed in on EVTC. BidaskClub downgraded Evertec from a sell rating to a strong sell rating in a research report on Friday, October 27th. Stifel Nicolaus dropped their target price on Evertec from $18.00 to $17.00 and set a buy rating for the company in a research report on Wednesday, November 8th. Deutsche Bank dropped their target price on Evertec from $18.00 to $16.00 and set a hold rating for the company in a research report on Wednesday, November 8th. ValuEngine raised Evertec from a hold rating to a buy rating in a research report on Thursday, November 9th. Finally, JPMorgan Chase & Co. downgraded Evertec from a neutral rating to an underweight rating in a research report on Tuesday, December 12th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Evertec has a consensus rating of Hold and an average price target of $16.50.

Evertec (NYSE EVTC) opened at $16.65 on Thursday. The firm has a market capitalization of $1,161.86, a PE ratio of 10.99, a price-to-earnings-growth ratio of 2.38 and a beta of 1.24. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.00 and a quick ratio of 1.00. Evertec has a 52-week low of $12.60 and a 52-week high of $19.52.

Evertec (NYSE:EVTC) last released its earnings results on Wednesday, February 21st. The business services provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $99.63 million during the quarter, compared to the consensus estimate of $89.98 million. Evertec had a return on equity of 80.93% and a net margin of 13.52%. Evertec’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 EPS. equities research analysts anticipate that Evertec will post 1.35 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. DF Dent & Co. Inc. boosted its stake in shares of Evertec by 105.1% in the 4th quarter. DF Dent & Co. Inc. now owns 56,436 shares of the business services provider’s stock valued at $770,000 after buying an additional 28,917 shares during the period. MetLife Investment Advisors LLC purchased a new position in shares of Evertec in the 4th quarter valued at about $415,000. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Evertec by 145.7% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 50,371 shares of the business services provider’s stock valued at $687,000 after buying an additional 29,871 shares during the period. Teachers Advisors LLC boosted its stake in shares of Evertec by 3.7% in the 4th quarter. Teachers Advisors LLC now owns 952,701 shares of the business services provider’s stock valued at $13,004,000 after buying an additional 33,800 shares during the period. Finally, Sapience Investments LLC boosted its stake in shares of Evertec by 3.0% in the 4th quarter. Sapience Investments LLC now owns 1,280,870 shares of the business services provider’s stock valued at $17,484,000 after buying an additional 37,550 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

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Evertec Company Profile

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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