EVERTEC, Inc. (NYSE:EVTC) Receives $42.25 Average PT from Analysts

Shares of EVERTEC, Inc. (NYSE:EVTCGet Rating) have been given an average recommendation of “Hold” by the six brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $42.25.

EVTC has been the subject of a number of analyst reports. Zacks Investment Research raised shares of EVERTEC from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. Raymond James lowered their target price on EVERTEC from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Friday, February 25th. Susquehanna dropped their price target on shares of EVERTEC from $49.00 to $43.00 in a research note on Friday, February 25th. StockNews.com lowered EVERTEC from a “buy” rating to a “hold” rating in a report on Saturday, May 7th. Finally, Susquehanna Bancshares reduced their target price on EVERTEC from $49.00 to $43.00 in a report on Friday, February 25th.

In other EVERTEC news, EVP Castillo Rodrigo Del sold 15,573 shares of the firm’s stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $38.62, for a total value of $601,429.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Diego Viglianco sold 1,168 shares of the business’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $40.50, for a total transaction of $47,304.00. Following the transaction, the chief operating officer now owns 22,102 shares in the company, valued at approximately $895,131. The disclosure for this sale can be found here. Insiders have sold a total of 211,509 shares of company stock valued at $8,127,622 in the last three months. 0.44% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in EVTC. Maryland State Retirement & Pension System boosted its holdings in EVERTEC by 1.3% during the fourth quarter. Maryland State Retirement & Pension System now owns 23,814 shares of the business services provider’s stock valued at $1,190,000 after purchasing an additional 310 shares in the last quarter. Thrivent Financial for Lutherans grew its position in EVERTEC by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 48,613 shares of the business services provider’s stock valued at $2,430,000 after acquiring an additional 329 shares during the period. Voya Financial Advisors Inc. grew its position in EVERTEC by 5.9% in the third quarter. Voya Financial Advisors Inc. now owns 6,221 shares of the business services provider’s stock valued at $294,000 after acquiring an additional 349 shares during the period. Vident Investment Advisory LLC raised its stake in EVERTEC by 4.6% during the first quarter. Vident Investment Advisory LLC now owns 10,040 shares of the business services provider’s stock worth $411,000 after acquiring an additional 444 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of EVERTEC by 5.5% during the first quarter. Mutual of America Capital Management LLC now owns 8,608 shares of the business services provider’s stock valued at $352,000 after acquiring an additional 447 shares during the period. 83.26% of the stock is currently owned by institutional investors.

Shares of NYSE EVTC opened at $37.77 on Friday. The stock has a market capitalization of $2.70 billion, a P/E ratio of 16.79 and a beta of 0.96. The firm’s 50-day moving average price is $40.07 and its two-hundred day moving average price is $43.20. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.89. EVERTEC has a 52-week low of $36.00 and a 52-week high of $51.06.

EVERTEC (NYSE:EVTCGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The business services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The business had revenue of $150.20 million for the quarter, compared to analysts’ expectations of $146.07 million. EVERTEC had a net margin of 27.40% and a return on equity of 43.09%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.58 earnings per share. As a group, equities research analysts expect that EVERTEC will post 2.37 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Monday, May 2nd will be paid a $0.05 dividend. The ex-dividend date is Friday, April 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. EVERTEC’s payout ratio is presently 8.89%.

About EVERTEC (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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