Recent Investment Analysts’ Ratings Changes for EVERTEC (EVTC)

A number of research firms have changed their ratings and price targets for EVERTEC (NYSE: EVTC):

• 11/16/2023 – EVERTEC was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 11/8/2023 – EVERTEC was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/31/2023 – EVERTEC had its price target lowered by analysts at Susquehanna from $41.00 to $36.00. They now have a “neutral” rating on the stock.
• 10/27/2023 – EVERTEC had its price target raised by analysts at Morgan Stanley from $31.00 to $32.00. They now have an “underweight” rating on the stock.
• 10/26/2023 – EVERTEC was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating.
• 10/5/2023 – EVERTEC is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

EVERTEC Stock Performance

EVERTEC stock opened at $34.85 on Thursday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.70. The stock has a 50 day moving average of $35.98 and a 200-day moving average of $36.97. EVERTEC, Inc. has a 52 week low of $30.17 and a 52 week high of $42.03. The stock has a market cap of $2.25 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.05.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 30th will be issued a $0.05 dividend. The ex-dividend date is Friday, October 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. EVERTEC’s payout ratio is currently 13.51%.

Institutional Trading of EVERTEC

A number of large investors have recently added to or reduced their stakes in EVTC. HighTower Advisors LLC boosted its holdings in EVERTEC by 15.9% during the first quarter. HighTower Advisors LLC now owns 28,929 shares of the business services provider’s stock worth $1,183,000 after buying an additional 3,976 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of EVERTEC by 27.1% during the first quarter. Private Advisor Group LLC now owns 15,245 shares of the business services provider’s stock valued at $624,000 after acquiring an additional 3,249 shares during the period. Bank of Montreal Can raised its holdings in shares of EVERTEC by 4.5% during the first quarter. Bank of Montreal Can now owns 47,353 shares of the business services provider’s stock valued at $1,966,000 after acquiring an additional 2,028 shares during the period. MetLife Investment Management LLC raised its holdings in shares of EVERTEC by 55.1% during the first quarter. MetLife Investment Management LLC now owns 32,586 shares of the business services provider’s stock valued at $1,334,000 after acquiring an additional 11,570 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of EVERTEC by 4.1% during the first quarter. Rhumbline Advisers now owns 147,724 shares of the business services provider’s stock valued at $6,046,000 after acquiring an additional 5,874 shares during the period. 96.80% of the stock is currently owned by institutional investors.

EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; and Business Solutions segments. 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.