Evertec (NYSE:EVTC) Hits New 12-Month Low – Here’s Why
by Sarita Garza · The Markets DailyShares of Evertec, Inc. (NYSE:EVTC – Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $26.63 and last traded at $26.1980, with a volume of 19716 shares trading hands. The stock had previously closed at $27.37.
Wall Street Analysts Forecast Growth
EVTC has been the topic of several analyst reports. Susquehanna reduced their price target on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Keefe, Bruyette & Woods reduced their target price on Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Evertec in a report on Monday, December 29th. Wall Street Zen lowered Evertec from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Zacks Research downgraded Evertec from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.80.
View Our Latest Research Report on Evertec
Evertec Price Performance
The business has a 50-day moving average of $29.36 and a two-hundred day moving average of $31.40. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 1.59. The firm has a market cap of $1.74 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86.
Institutional Investors Weigh In On Evertec
Hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its holdings in Evertec by 1.0% during the 2nd quarter. American Century Companies Inc. now owns 4,558,374 shares of the business services provider’s stock worth $164,329,000 after purchasing an additional 46,147 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of Evertec by 31.1% during the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 16,825 shares of the business services provider’s stock worth $605,000 after buying an additional 3,991 shares during the period. Clifford Capital Partners LLC raised its stake in Evertec by 3.0% during the second quarter. Clifford Capital Partners LLC now owns 435,431 shares of the business services provider’s stock worth $15,697,000 after buying an additional 12,880 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Evertec during the second quarter worth $879,000. Finally, Willis Investment Counsel lifted its holdings in Evertec by 63.2% in the second quarter. Willis Investment Counsel now owns 62,033 shares of the business services provider’s stock valued at $2,236,000 after buying an additional 24,011 shares during the period. 96.80% of the stock is currently 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.