Evertec's (EVTC) "Hold (C)" Rating Reiterated at Weiss Ratings

Evertec (NYSE:EVTC - Get Free Report)'s stock had its "hold (c)" rating reiterated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other analysts have also issued reports on the company. Morgan Stanley lowered their price target on Evertec from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on Evertec in a research note on Thursday, July 17th. They issued a "hold" rating and a $35.00 price target on the stock. Zacks Research lowered Evertec from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $43.00 price target (up from $42.00) on shares of Evertec in a research note on Thursday, July 31st. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $39.00.

Evertec Stock Up 0.6%

Evertec stock opened at $32.27 on Wednesday. The stock has a market capitalization of $2.06 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93. Evertec has a 12 month low of $31.41 and a 12 month high of $38.56. The business has a 50 day simple moving average of $34.75 and a 200-day simple moving average of $35.12. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.20 and a quick ratio of 2.20.

Evertec (NYSE:EVTC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.03. The business had revenue of $229.61 million during the quarter, compared to analysts' expectations of $222.23 million. Evertec had a return on equity of 36.67% and a net margin of 15.56%.The business's revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 earnings per share. Evertec has set its FY 2025 guidance at 3.440-3.520 EPS. On average, analysts anticipate that Evertec will post 2.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Evertec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Private Client Wealth LLC raised its position in Evertec by 19.3% in the first quarter. TD Private Client Wealth LLC now owns 1,855 shares of the business services provider's stock valued at $68,000 after purchasing an additional 300 shares during the period. California State Teachers Retirement System raised its position in Evertec by 0.7% in the second quarter. California State Teachers Retirement System now owns 59,159 shares of the business services provider's stock valued at $2,133,000 after purchasing an additional 417 shares during the period. Blue Trust Inc. raised its position in Evertec by 39.2% in the first quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock valued at $56,000 after purchasing an additional 429 shares during the period. Fifth Third Bancorp raised its position in Evertec by 44.7% in the first quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock valued at $62,000 after purchasing an additional 525 shares during the period. Finally, Lazard Asset Management LLC raised its position in Evertec by 1.7% in the second quarter. Lazard Asset Management LLC now owns 33,598 shares of the business services provider's stock valued at $1,211,000 after purchasing an additional 567 shares during the period. Hedge funds and other institutional investors own 96.80% of the company's stock.

About Evertec

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services - Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.

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