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EVERTEC, Inc. (EVTC) engages in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean.
The company operates through four segments: Payment Services - Puerto Rico & Caribbean, Payment Services - Latin America, 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.
The company also offers payment processing services that enable financial institutions and other issuers to manage, support, and facilitate the processing for credit, debit, prepaid, automated teller machines and EBT card programs; credit and debit card processing, authorization and settlement, and fraud monitoring and control services to debit or credit issuers; payment and billing products for merchants, businesses, and financial institutions; and EBT services.
In addition, it provides business process management solutions comprising core bank processing, network hosting and management, IT consulting services, business process outsourcing, item and cash processing, and fulfillment solutions to financial institutions, and corporate and government customers. The company manages a system of electronic payment networks that process approximately two billion transactions. It sells and distributes its services primarily through a proprietary direct sales force, as well as various indirect sales channels, including value-added resellers.
Shares are heading higher in an upward trading channel. The formation is supported by the stock's 50-day moving average. Stock is presently sitting at the lower boundary of the said channel. We expect higher share prices for this stock.
Entry Point: $27.50
Stop Loss: $26.00
Trading Range: $13.50 - $30.20
Target Price: $30.25
EVTC closed at $30.74.
