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 have also recently issued reports on EVTC. Compass Point raised their price target on Evertec from $17.00 to $19.00 and gave the company a buy rating in a report on Friday, July 29th. Deutsche Bank AG raised their target price on Evertec from $15.00 to $18.00 and gave the stock a hold rating in a report on Friday, July 29th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $17.40.
Evertec (NYSE:EVTC) opened at 16.65 on Monday. The company has a 50-day moving average price of $16.87 and a 200-day moving average price of $15.47. Evertec has a 12-month low of $11.27 and a 12-month high of $19.66. The firm has a market cap of $1.24 billion, a P/E ratio of 14.54 and a beta of 1.12.
Evertec (NYSE:EVTC) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $97.70 million for the quarter, compared to analysts’ expectations of $93.40 million. Evertec had a return on equity of 118.58% and a net margin of 19.59%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 earnings per share. On average, analysts predict that Evertec will post $1.71 earnings per share for the current year.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Evertec by 66.0% in the second quarter. BlackRock Inc. now owns 7,528 shares of the company’s stock worth $117,000 after buying an additional 2,994 shares during the period. Teacher Retirement System of Texas boosted its position in Evertec by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,042 shares of the company’s stock valued at $141,000 after buying an additional 1,099 shares during the period. Acrospire Investment Management LLC boosted its position in Evertec by 84.0% in the second quarter. Acrospire Investment Management LLC now owns 9,200 shares of the company’s stock valued at $143,000 after buying an additional 4,200 shares during the period. AHL Partners LLP acquired a new position in Evertec during the second quarter valued at $160,000. Finally, Penserra Capital Management LLC boosted its position in Evertec by 5.6% in the second quarter. Penserra Capital Management LLC now owns 10,504 shares of the company’s stock valued at $163,000 after buying an additional 556 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.
Evertec Company Profile
EVERTEC, Inc is a service transaction processing business in Latin America. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. The Merchant Acquiring segment consists of services that allow merchants to accept electronic methods of payment. Its services include a discount fee and membership fees charged to merchants, debit network fees and rental fees from point-of-sale (POS) devices and other equipment, net of credit card interchange and assessment fees.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Evertec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evertec Inc. and related companies with MarketBeat.com's FREE daily email newsletter.