Evertec, Inc. (EVTC) – What Are Investment Firms Saying About This Stock?

Shares of Evertec, Inc. (NYSE:EVTC) have received a consensus rating of “Hold” from the five analysts that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $36.67.

EVTC has been the topic of a number of recent research reports. Weiss Ratings raised Evertec from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, October 21st. Morgan Stanley set a $34.00 target price on Evertec in a report on Thursday, August 6th. Keefe, Bruyette & Woods raised their target price on Evertec from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 4th. Finally, Wall Street Zen raised Evertec from a “buy” rating to a “strong-buy” rating in a research note on Saturday.

Evertec Stock Performance

EVTC opened at $33.11 on Wednesday. The stock’s 50 day simple moving average is $30.08 and its 200-day simple moving average is $28.52. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.86. The stock has a market cap of $1.96 billion, a PE ratio of 21.79, a P/E/G ratio of 0.94 and a beta of 0.71. Evertec has a 1 year low of $21.81 and a 1 year high of $35.28.

Evertec (NYSE:EVTC) last announced its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.09. The firm had revenue of $282.99 million for the quarter, compared to analyst estimates of $272.94 million. Evertec had a net margin of 9.00% and a return on equity of 32.81%. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS. Sell-side analysts forecast that Evertec will post 3.58 EPS for the current year.

Evertec Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Monday, November 9th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, November 9th. Evertec’s dividend payout ratio is currently 13.16%.

Insiders Place Their Bets

In other Evertec news, EVP Paola Perez-Surillo sold 17,486 shares of Evertec stock in a transaction on Friday, August 14th. The stock was sold at an average price of $31.56, for a total transaction of $551,858.16. Following the completion of the transaction, the executive vice president directly owned 46,421 shares of the company’s stock, valued at approximately $1,465,046.76. This trade represents a 27.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aldo Polak sold 1,094 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $30.37, for a total transaction of $33,224.78. Following the completion of the sale, the director owned 14,849 shares in the company, valued at $450,964.13. This represents a 6.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 164,580 shares of company stock worth $5,656,823 over the last three months. 1.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Evertec

Several institutional investors have recently added to or reduced their stakes in EVTC. Royal Bank of Canada grew its stake in Evertec by 1.4% during the first quarter. Royal Bank of Canada now owns 34,824 shares of the business services provider’s stock worth $983,000 after buying an additional 479 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Evertec by 3.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,687 shares of the business services provider’s stock worth $375,000 after buying an additional 484 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Evertec by 13.9% during the first quarter. EverSource Wealth Advisors LLC now owns 4,302 shares of the business services provider’s stock worth $121,000 after buying an additional 524 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Evertec by 6.2% in the first quarter. Cetera Investment Advisers now owns 13,078 shares of the business services provider’s stock valued at $369,000 after acquiring an additional 765 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of Evertec by 166.9% in the second quarter. Allworth Financial LP now owns 1,372 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 858 shares during the last quarter. 96.80% of the stock is owned by institutional investors.

Evertec Company Profile

Evertec, Inc. is a financial technology company headquartered in San Juan, Puerto Rico. It provides payment processing and related technology services to financial institutions, merchants, businesses and government agencies across Latin America and the Caribbean, as well as in the United States. The company’s services include merchant acquiring, debit and credit card processing, electronic payments and business process management. Its technology offerings also support financial institutions’ operations, while its ATH network and ATH Móvil platform facilitate electronic payments in Puerto Rico.