Shares of Evertec Inc (NYSE:EVTC) have been assigned a consensus recommendation of “Buy” from the twelve analysts that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.17.

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods assumed coverage on Evertec in a report on Thursday. They set an “outperform” rating for the company. Raymond James increased their target price on Evertec from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, November 12th. Finally, Zacks Investment Research raised Evertec from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Friday, November 2nd.

NYSE EVTC opened at $26.80 on Friday. The stock has a market capitalization of $1.92 billion, a P/E ratio of 18.23 and a beta of 1.03. Evertec has a twelve month low of $12.88 and a twelve month high of $29.70. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.52.

Evertec (NYSE:EVTC) last released its quarterly earnings results on Tuesday, October 30th. The business services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. Evertec had a return on equity of 62.09% and a net margin of 16.52%. The company had revenue of $112.02 million during the quarter, compared to analysts’ expectations of $108.94 million. During the same quarter in the prior year, the firm posted $0.33 EPS. Evertec’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, equities research analysts expect that Evertec will post 1.66 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Monday, November 5th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.75%. Evertec’s payout ratio is currently 13.61%.

In other news, insider Miguel Vizcarrondo sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $24.31, for a total value of $486,200.00. Following the completion of the sale, the insider now directly owns 195,887 shares in the company, valued at $4,762,012.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Luis A. Rodriguez-Gonzalez sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $23.48, for a total value of $281,760.00. Following the completion of the sale, the executive vice president now owns 70,944 shares of the company’s stock, valued at $1,665,765.12. The disclosure for this sale can be found here. Insiders have sold 33,500 shares of company stock valued at $803,285 in the last three months. Insiders own 0.76% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Evertec in the second quarter valued at approximately $2,762,000. Amalgamated Bank purchased a new stake in shares of Evertec in the second quarter valued at approximately $213,000. Sei Investments Co. grew its position in shares of Evertec by 7.5% in the second quarter. Sei Investments Co. now owns 101,496 shares of the business services provider’s stock valued at $2,218,000 after purchasing an additional 7,066 shares in the last quarter. Seizert Capital Partners LLC purchased a new stake in shares of Evertec in the third quarter valued at approximately $3,522,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Evertec in the second quarter valued at approximately $624,000. Institutional investors and hedge funds own 79.64% of the company’s stock.

Evertec Company Profile

EVERTEC, Inc and its subsidiaries engage 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.

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Analyst Recommendations for Evertec (NYSE:EVTC)

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