EVERTEC (NYSE:EVTC) Receives Outperform Rating from William Blair

William Blair reissued their outperform rating on shares of EVERTEC (NYSE:EVTC) in a research note released on Wednesday,RTT News reports.

A number of other research firms have also recently commented on EVTC. Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $33.00 to $35.00 in a research report on Thursday, November 21st. Susquehanna lowered EVERTEC from a “neutral” rating to a “negative” rating and dropped their price objective for the company from $38.00 to $28.00 in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, EVERTEC has an average rating of “Hold” and a consensus price target of $35.00.

EVERTEC Stock Performance

NYSE EVTC opened at $33.67 on Wednesday. The firm has a market capitalization of $2.14 billion, a P/E ratio of 26.30, a PEG ratio of 1.63 and a beta of 1.16. EVERTEC has a fifty-two week low of $28.76 and a fifty-two week high of $42.21. The stock has a 50-day simple moving average of $34.45 and a two-hundred day simple moving average of $33.74. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97.

EVERTEC (NYSE:EVTC) last posted its earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.13. The firm had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 EPS. On average, equities analysts forecast that EVERTEC will post 2.55 earnings per share for the current year.

EVERTEC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, October 28th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. EVERTEC’s dividend payout ratio is currently 15.63%.

Insider Activity at EVERTEC

In related news, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $36.08, for a total transaction of $1,748,184.24. Following the transaction, the chief financial officer now directly owns 54,998 shares in the company, valued at approximately $1,984,327.84. The trade was a 46.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel Brignardello sold 3,842 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $36.00, for a total transaction of $138,312.00. Following the completion of the sale, the executive vice president now owns 32,481 shares of the company’s stock, valued at approximately $1,169,316. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EVERTEC

A number of large investors have recently made changes to their positions in EVTC. Public Employees Retirement System of Ohio acquired a new position in EVERTEC during the third quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of EVERTEC during the 3rd quarter valued at approximately $55,000. Northwestern Mutual Wealth Management Co. lifted its holdings in EVERTEC by 866.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock valued at $81,000 after acquiring an additional 2,175 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in EVERTEC by 90.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock worth $104,000 after acquiring an additional 1,490 shares during the period. Finally, nVerses Capital LLC increased its stake in EVERTEC by 68.4% during the second quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock worth $106,000 after acquiring an additional 1,300 shares during the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

About EVERTEC

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.