Evertec (NYSE:EVTC) Shares Cross Below Fifty Day Moving Average – Time to Sell?

Evertec, Inc. (NYSE:EVTC) shares passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $29.30 and traded as low as $29.00. Evertec shares last traded at $29.3340, with a volume of 404,513 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Zacks Research downgraded Evertec from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Susquehanna lowered their price target on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Morgan Stanley dropped their price target on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Evertec in a research report on Monday, December 15th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Evertec presently has a consensus rating of “Hold” and an average price target of $35.80.

Evertec Stock Up 1.0%

The company has a debt-to-equity ratio of 1.59, a quick ratio of 2.91 and a current ratio of 2.91. The firm’s 50 day moving average price is $29.30 and its two-hundred day moving average price is $32.94. The company has a market cap of $1.88 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.15 and a beta of 0.89.

Evertec Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 3rd were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, November 3rd. Evertec’s payout ratio is presently 8.89%.

Institutional Investors Weigh In On Evertec

Hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. boosted 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 acquiring an additional 46,147 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Evertec by 35.5% during the first quarter. Hsbc Holdings PLC now owns 12,707 shares of the business services provider’s stock worth $465,000 after purchasing an additional 3,330 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in 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 purchasing an additional 3,991 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Evertec in the 2nd quarter worth about $879,000. Finally, Willis Investment Counsel increased its stake in Evertec by 63.2% in the 2nd 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 last quarter. Institutional investors own 96.80% of the company’s stock.

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.