StockNews.com Upgrades EVERTEC (NYSE:EVTC) to “Buy”

EVERTEC (NYSE:EVTC) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Other analysts have also issued reports about the company. Morgan Stanley raised their price target on EVERTEC from $31.00 to $32.00 and gave the stock an “underweight” rating in a research note on Friday, October 27th. Susquehanna dropped their price target on shares of EVERTEC from $41.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, October 31st. Raymond James lifted their price target on shares of EVERTEC from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, July 24th. Finally, TheStreet downgraded EVERTEC from a “b” rating to a “c+” rating in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, EVERTEC currently has a consensus rating of “Hold” and an average price target of $39.33.

EVERTEC Trading Down 1.9 %

Shares of EVERTEC stock opened at $32.76 on Wednesday. The firm has a market cap of $2.12 billion, a PE ratio of 22.14, a P/E/G ratio of 1.13 and a beta of 1.05. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.70. EVERTEC has a fifty-two week low of $30.17 and a fifty-two week high of $42.03. The business’s fifty day moving average is $36.33 and its two-hundred day moving average is $36.91.

Insider Activity

In other EVERTEC news, COO Diego Viglianco sold 1,128 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $39.79, for a total value of $44,883.12. Following the transaction, the chief operating officer now directly owns 36,765 shares of the company’s stock, valued at $1,462,879.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On EVERTEC

Institutional investors have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P increased its holdings in EVERTEC by 16.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,452,050 shares of the business services provider’s stock worth $53,987,000 after purchasing an additional 202,757 shares during the last quarter. Rhumbline Advisers increased its stake in shares of EVERTEC by 1.3% in the third quarter. Rhumbline Advisers now owns 185,361 shares of the business services provider’s stock worth $6,892,000 after buying an additional 2,339 shares during the last quarter. Deutsche Bank AG raised its holdings in EVERTEC by 1.6% in the third quarter. Deutsche Bank AG now owns 255,270 shares of the business services provider’s stock valued at $9,491,000 after acquiring an additional 3,990 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in EVERTEC by 50.9% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 92,800 shares of the business services provider’s stock valued at $3,450,000 after acquiring an additional 31,300 shares during the last quarter. Finally, Blair William & Co. IL grew its holdings in EVERTEC by 12.0% during the 3rd quarter. Blair William & Co. IL now owns 14,905 shares of the business services provider’s stock worth $554,000 after acquiring an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

EVERTEC Company Profile

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; and Business Solutions 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.