Noteworthy Price Action: Could Evertec Inc Lose its Strength? The Stock Reaches 52-Week High

Noteworthy Price Action: Could Evertec Inc Lose its Strength? The Stock Reaches 52 Week High

The stock of Evertec Inc (NYSE:EVTC) hit a new 52-week high and has $18.97 target or 6.00% above today’s $17.90 share price. The 5 months bullish chart indicates low risk for the $1.31 billion company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $18.97 price target is reached, the company will be worth $78.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 105,272 shares traded hands. Evertec Inc (NYSE:EVTC) has risen 28.10% since April 26, 2016 and is uptrending. It has outperformed by 22.84% the S&P500.

Analysts await Evertec Inc (NYSE:EVTC) to report earnings on February, 15. They expect $0.41 EPS, down 6.82% or $0.03 from last year’s $0.44 per share. EVTC’s profit will be $30.01M for 10.91 P/E if the $0.41 EPS becomes a reality. After $0.41 actual EPS reported by Evertec Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Evertec Inc (NYSE:EVTC) Ratings Coverage

Out of 4 analysts covering Evertec (NYSE:EVTC), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Evertec has been the topic of 9 analyst reports since August 14, 2015 according to StockzIntelligence Inc. Cowen & Co initiated the shares of EVTC in a report on Wednesday, September 30 with “Outperform” rating. The firm has “Buy” rating given on Friday, July 29 by Compass Point. The stock of Evertec Inc (NYSE:EVTC) has “Neutral” rating given on Friday, August 14 by JP Morgan. Deutsche Bank downgraded Evertec Inc (NYSE:EVTC) on Thursday, November 5 to “Hold” rating. The stock has “Buy” rating given by Compass Point on Friday, April 15. The stock of Evertec Inc (NYSE:EVTC) earned “Buy” rating by Compass Point on Thursday, February 25.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.63 in 2016 Q2. Its up 0.72, from 0.91 in 2016Q1. The ratio increased, as 16 funds sold all Evertec Inc shares owned while 41 reduced positions. 19 funds bought stakes while 33 increased positions. They now own 59.59 million shares or 2.84% less from 61.33 million shares in 2016Q1.
Schwab Charles Inv Management accumulated 0.01% or 268,582 shares. Credit Suisse Ag accumulated 233,309 shares or 0% of the stock. State Board Of Administration Of Florida Retirement System, a Florida-based fund reported 23,230 shares. First Mercantile Tru last reported 77,120 shares in the company. Renaissance Technology Lc accumulated 0.06% or 2.08M shares. Moreover, Springbok Cap Management Limited Liability Company has 0% invested in Evertec Inc (NYSE:EVTC) for 2,100 shares. Symphony Asset Ltd Llc last reported 0.02% of its portfolio in the stock. Millennium Mgmt Ltd Liability Corp has invested 0.01% of its portfolio in Evertec Inc (NYSE:EVTC). Tower Research Limited Liability Corporation (Trc) has invested 0% of its portfolio in Evertec Inc (NYSE:EVTC). Moreover, Alliancebernstein L P has 0% invested in Evertec Inc (NYSE:EVTC) for 113,660 shares. Wellington Group Limited Liability Partnership holds 0% or 870,357 shares in its portfolio. Manufacturers Life Ins The holds 40,991 shares or 0% of its portfolio. Susquehanna Intll Group Inc Limited Liability Partnership has 231,308 shares for 0% of their US portfolio. Fiera last reported 0.03% of its portfolio in the stock. Huntington Bank & Trust, a Ohio-based fund reported 294 shares.

Insider Transactions: Since November 23, 2016, the stock had 0 buys, and 1 insider sale for $510,000 net activity. $510,000 worth of Evertec Inc (NYSE:EVTC) shares were sold by Vizcarrondo Miguel.

Another recent and important Evertec Inc (NYSE:EVTC) news was published by Forbes.com which published an article titled: “Ex-Dividend Reminder: Evertec, Icahn Enterprises and Harman International …” on November 07, 2016.

EVTC Company Profile

EVERTEC, Inc., formerly Carib Latam Holdings, Inc., incorporated on April 13, 2012, is a full-service transaction processing company. The Firm provides a range of merchant acquiring, payment processing and business process management services across approximately 20 countries. The Firm operates through three divisions: Merchant Acquiring, Payment Processing and Business Solutions. The Firm owns and operates the ATH network, an automated teller machine (ATM) and personal identification number (PIN) debit network in Latin America. In addition, the Company provides a range of services for core bank processing, cash processing and technology outsourcing in the regions it serves. The Firm serves a diversified customer base of financial institutions, merchants, firms and government agencies with solutions that enable them to issue, process and accept transactions securely. It manages a system of electronic payment networks that process approximately two billion transactions annually. The Company’s suite of services spans the entire transaction processing value chain and includes a range of front-end customer-facing solutions, such as the electronic capture and authorization of transactions at the point-of-sale (POS), as well as back-end support services, such as the clearing and settlement of transactions and account reconciliation for card issuers.

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