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. “
Other research analysts have also recently issued reports about the stock. Compass Point upped their price objective on shares of Evertec from $17.00 to $19.00 and gave the stock a buy rating in a research report on Friday, July 29th. Deutsche Bank AG increased their price target on shares of Evertec from $15.00 to $18.00 and gave the company a hold rating in a research report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $17.40.
Shares of Evertec (NYSE:EVTC) opened at 16.33 on Monday. Evertec has a 12 month low of $11.27 and a 12 month high of $19.66. The stock’s 50 day moving average is $16.81 and its 200 day moving average is $15.50. The company has a market cap of $1.22 billion, a P/E ratio of 14.26 and a beta of 1.12.
Evertec (NYSE:EVTC) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The company had revenue of $97.70 million for the quarter, compared to analysts’ expectations of $93.40 million. Evertec had a net margin of 19.59% and a return on equity of 118.58%. Evertec’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 earnings per share. On average, analysts anticipate that Evertec will post $1.71 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in Evertec by 54.0% in the first quarter. Renaissance Technologies LLC now owns 2,211,100 shares of the company’s stock worth $30,911,000 after buying an additional 775,300 shares during the period. Bogle Investment Management L P DE bought a new stake in Evertec during the first quarter worth $4,446,000. Heartland Advisors Inc. bought a new stake in Evertec during the second quarter worth $3,885,000. Vanguard Group Inc. raised its stake in Evertec by 5.6% in the second quarter. Vanguard Group Inc. now owns 4,602,128 shares of the company’s stock worth $71,517,000 after buying an additional 243,865 shares during the period. Finally, Panagora Asset Management Inc. bought a new stake in Evertec during the second quarter worth $3,229,000. 80.69% of the stock is owned by hedge funds and other institutional investors.
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.
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