EVERTEC (NYSE:EVTC) Upgraded to Buy by StockNews.com

EVERTEC (NYSE:EVTCGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

A number of other analysts have also weighed in on EVTC. Raymond James reduced their price objective on shares of EVERTEC from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Friday, February 25th. Susquehanna Bancshares reduced their price objective on shares of EVERTEC from $49.00 to $43.00 in a research note on Friday, February 25th. Zacks Investment Research lowered shares of EVERTEC from a “hold” rating to a “sell” rating in a research note on Tuesday, January 25th. Finally, Susquehanna reduced their price objective on shares of EVERTEC from $49.00 to $43.00 in a research note on Friday, February 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, EVERTEC currently has a consensus rating of “Hold” and a consensus price target of $44.00.

Shares of NYSE EVTC opened at $40.99 on Thursday. EVERTEC has a 1 year low of $37.39 and a 1 year high of $51.06. The stock has a market cap of $2.94 billion, a P/E ratio of 18.55 and a beta of 0.99. The firm has a 50-day moving average of $40.93 and a 200 day moving average of $44.21. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.85 and a quick ratio of 2.85.

EVERTEC (NYSE:EVTCGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The company had revenue of $155.24 million during the quarter, compared to analysts’ expectations of $146.58 million. EVERTEC had a net margin of 27.32% and a return on equity of 45.46%. EVERTEC’s revenue was up 15.7% on a year-over-year basis. During the same period last year, the company posted $0.55 EPS. Research analysts expect that EVERTEC will post 2.3 earnings per share for the current fiscal year.

In related news, EVP Paola Perez-Surillo sold 29,253 shares of the business’s stock in a transaction that occurred on Thursday, April 7th. The shares were sold at an average price of $40.26, for a total transaction of $1,177,725.78. Following the completion of the sale, the executive vice president now directly owns 20,687 shares in the company, valued at $832,858.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Castillo Rodrigo Del sold 15,573 shares of the business’s stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $38.62, for a total transaction of $601,429.26. The disclosure for this sale can be found here. Insiders sold 210,341 shares of company stock valued at $8,080,318 over the last quarter. Company insiders own 0.68% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in EVERTEC by 2.9% during the fourth quarter. BlackRock Inc. now owns 9,203,572 shares of the business services provider’s stock valued at $459,994,000 after buying an additional 258,409 shares during the period. Boston Partners lifted its holdings in EVERTEC by 2.1% during the third quarter. Boston Partners now owns 4,597,773 shares of the business services provider’s stock valued at $210,442,000 after purchasing an additional 92,809 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in EVERTEC by 13.6% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,571,412 shares of the business services provider’s stock valued at $228,479,000 after purchasing an additional 546,882 shares in the last quarter. Capital International Investors lifted its holdings in EVERTEC by 8.7% during the fourth quarter. Capital International Investors now owns 3,464,441 shares of the business services provider’s stock valued at $173,201,000 after purchasing an additional 277,034 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in EVERTEC by 17.0% during the fourth quarter. American Century Companies Inc. now owns 3,365,323 shares of the business services provider’s stock valued at $168,199,000 after purchasing an additional 488,136 shares in the last quarter. Institutional investors own 81.56% of the company’s stock.

EVERTEC Company Profile (Get Rating)

EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; Business Solutions, and Corporate and Other segments. 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.

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