Evertec (NYSE:EVTC) Upgraded at Zacks Research

Zacks Research upgraded shares of Evertec (NYSE:EVTC) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

EVTC has been the topic of several other reports. Morgan Stanley decreased their price objective on Evertec from $34.00 to $29.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 12th. Keefe, Bruyette & Woods reduced their price target on Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Susquehanna lowered their price objective on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Evertec in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Evertec has an average rating of “Moderate Buy” and an average price target of $35.80.

Evertec Trading Down 0.1%

Evertec stock opened at $29.09 on Monday. The business’s fifty day moving average is $29.15 and its 200 day moving average is $32.59. Evertec has a one year low of $26.72 and a one year high of $38.56. The stock has a market capitalization of $1.86 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 1.15 and a beta of 0.89. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.91 and a quick ratio of 2.91.

Evertec Announces Dividend

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

Institutional Trading of Evertec

Several institutional investors have recently made changes to their positions in EVTC. OMERS ADMINISTRATION Corp purchased a new position in shares of Evertec in the first quarter valued at approximately $474,000. Trexquant Investment LP acquired a new position in Evertec in the first quarter valued at $380,000. Royal Bank of Canada grew its stake in Evertec by 10.2% during the 1st quarter. Royal Bank of Canada now owns 37,786 shares of the business services provider’s stock worth $1,389,000 after buying an additional 3,495 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Evertec during the first quarter worth approximately $3,654,000. Finally, AQR Capital Management LLC acquired a new position in Evertec in the first quarter valued at $248,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.

About Evertec

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.