EVERTEC (NYSE:EVTC) Given a $39.00 Price Target by Susquehanna Analysts

EVERTEC (NYSE:EVTC) received a $39.00 price target from analysts at Susquehanna in a research note issued to investors on Tuesday, Marketbeat reports. The firm currently has a “neutral” rating on the business services provider’s stock. Susquehanna’s price target would indicate a potential upside of 5.19% from the stock’s current price.

EVTC has been the subject of several other research reports. Raymond James lifted their price target on shares of EVERTEC from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. William Blair restated an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of EVERTEC from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EVERTEC currently has an average rating of “Moderate Buy” and an average price target of $40.00.

EVERTEC Trading Down 1.8%

EVTC stock opened at $37.08 on Tuesday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. The company’s 50-day simple moving average is $35.16 and its 200 day simple moving average is $34.71. EVERTEC has a 52 week low of $28.76 and a 52 week high of $38.56. The company has a market capitalization of $2.36 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02.

EVERTEC (NYSE:EVTC) last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. The firm had revenue of $228.79 million during the quarter, compared to analysts’ expectations of $217.97 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. As a group, sell-side analysts anticipate that EVERTEC will post 2.63 earnings per share for the current year.

Insider Transactions at EVERTEC

In related news, CAO Karla Cruz sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $36.77, for a total value of $73,540.00. Following the transaction, the chief accounting officer now directly owns 18,065 shares of the company’s stock, valued at approximately $664,250.05. The trade was a 9.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel Brignardello sold 7,641 shares of the firm’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $36.60, for a total transaction of $279,660.60. Following the completion of the transaction, the executive vice president now directly owns 31,277 shares of the company’s stock, valued at approximately $1,144,738.20. This trade represents a 19.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 257,709 shares of company stock valued at $9,560,936 in the last quarter. 0.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC lifted its position in shares of EVERTEC by 184.6% during the first quarter. Jane Street Group LLC now owns 133,714 shares of the business services provider’s stock worth $4,917,000 after purchasing an additional 86,733 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of EVERTEC by 1.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,721 shares of the business services provider’s stock worth $3,189,000 after purchasing an additional 846 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of EVERTEC by 3.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,915 shares of the business services provider’s stock worth $1,394,000 after purchasing an additional 1,222 shares during the last quarter. Invenomic Capital Management LP lifted its position in shares of EVERTEC by 5.3% during the first quarter. Invenomic Capital Management LP now owns 290,508 shares of the business services provider’s stock worth $10,682,000 after purchasing an additional 14,529 shares during the last quarter. Finally, Clark Capital Management Group Inc. lifted its position in shares of EVERTEC by 16.9% during the first quarter. Clark Capital Management Group Inc. now owns 230,083 shares of the business services provider’s stock worth $8,460,000 after purchasing an additional 33,247 shares during the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

EVERTEC Company Profile

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