EVERTEC (NYSE:EVTC) PT Lowered to $42.00

EVERTEC (NYSE:EVTC) had its price objective dropped by Keefe, Bruyette & Woods from $47.00 to $42.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 41.84% from the stock’s current price.

EVERTEC Stock Performance

NYSE EVTC opened at $29.61 on Monday. The business’s 50-day moving average price is $34.66 and its 200 day moving average price is $37.63. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.84. The firm has a market cap of $1.91 billion, a P/E ratio of 29.91, a P/E/G ratio of 1.89 and a beta of 1.13. EVERTEC has a 52-week low of $28.76 and a 52-week high of $42.21.

EVERTEC (NYSE:EVTC) last released its earnings results on Wednesday, May 1st. The business services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. EVERTEC had a return on equity of 29.86% and a net margin of 8.87%. The business had revenue of $205.32 million for the quarter, compared to analyst estimates of $200.75 million. On average, equities research analysts expect that EVERTEC will post 2.38 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. EMC Capital Management acquired a new position in EVERTEC during the first quarter worth about $243,000. Invenomic Capital Management LP acquired a new stake in EVERTEC during the 1st quarter valued at $2,407,000. Capital International Investors grew its holdings in EVERTEC by 0.3% during the 1st quarter. Capital International Investors now owns 3,141,051 shares of the business services provider’s stock valued at $125,328,000 after buying an additional 9,110 shares during the last quarter. Capital Group Private Client Services Inc. raised its holdings in shares of EVERTEC by 12.8% in the first quarter. Capital Group Private Client Services Inc. now owns 494,836 shares of the business services provider’s stock worth $19,744,000 after acquiring an additional 56,097 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its stake in shares of EVERTEC by 48.9% during the first quarter. EntryPoint Capital LLC now owns 2,761 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 907 shares during the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

EVERTEC Company Profile

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.