Evertec, Inc. (NYSE:EVTC) Receives $40.00 Consensus Target Price from Brokerages

Shares of Evertec, Inc. (NYSE:EVTC) have earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $39.00.

EVTC has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Evertec in a research note on Thursday. They issued a “hold” rating and a $35.00 price target on the stock. Susquehanna set a $39.00 price target on Evertec and gave the stock a “neutral” rating in a research note on Tuesday, May 20th. Keefe, Bruyette & Woods increased their target price on Evertec from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Finally, Raymond James Financial increased their target price on Evertec from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th.

Evertec Trading Down 1.2%

EVTC opened at $33.29 on Thursday. The business has a 50 day simple moving average of $36.30 and a two-hundred day simple moving average of $34.98. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 16.73 and a beta of 0.98. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.99 and a quick ratio of 1.99. Evertec has a one year low of $31.11 and a one year high of $38.56.

Evertec (NYSE:EVTC) last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. Evertec had a return on equity of 38.45% and a net margin of 14.89%. The firm had revenue of $228.79 million for the quarter, compared to the consensus estimate of $217.97 million. During the same quarter in the prior year, the business earned $0.72 EPS. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Analysts predict that Evertec will post 2.63 EPS for the current year.

Evertec Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 13th were issued a $0.05 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. Evertec’s dividend payout ratio is currently 10.05%.

Insider Activity

In other Evertec news, EVP Daniel Brignardello sold 7,641 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $36.60, for a total value of $279,660.60. Following the completion of the sale, the executive vice president owned 31,277 shares of the company’s stock, valued at $1,144,738.20. This trade represents a 19.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ivan Pagan sold 6,852 shares of Evertec stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $36.65, for a total transaction of $251,125.80. Following the sale, the director directly owned 12,473 shares of the company’s stock, valued at $457,135.45. This represents a 35.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,634 shares of company stock valued at $2,742,976. 0.63% of the stock is owned by corporate insiders.

Institutional Trading of Evertec

Several institutional investors and hedge funds have recently modified their holdings of EVTC. Quadrant Capital Group LLC raised its stake in Evertec by 4,525.0% in the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock worth $26,000 after buying an additional 724 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Evertec during the second quarter valued at $26,000. Johnson Financial Group Inc. purchased a new stake in shares of Evertec during the fourth quarter valued at $54,000. Blue Trust Inc. grew its holdings in shares of Evertec by 39.2% during the first quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider’s stock valued at $56,000 after buying an additional 429 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Evertec by 44.7% during the first quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider’s stock valued at $62,000 after buying an additional 525 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.

About Evertec

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.