EVERTEC (NYSE:EVTC) Stock Price Expected to Rise, Raymond James Analyst Says

EVERTEC (NYSE:EVTC) had its price objective hoisted by stock analysts at Raymond James from $39.00 to $42.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Raymond James’ price objective indicates a potential upside of 17.85% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods lifted their price target on EVERTEC from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday. William Blair reiterated an “outperform” rating on shares of EVERTEC in a research report on Thursday, February 27th. Finally, Susquehanna upgraded shares of EVERTEC from a “negative” rating to a “neutral” rating and raised their price objective for the company from $28.00 to $30.00 in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.75.

EVERTEC Price Performance

EVERTEC stock opened at $35.64 on Thursday. The stock has a market cap of $2.28 billion, a P/E ratio of 27.84, a P/E/G ratio of 1.43 and a beta of 1.02. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. The company’s 50 day moving average price is $35.03 and its two-hundred day moving average price is $34.41. EVERTEC has a 52 week low of $28.76 and a 52 week high of $38.32.

EVERTEC (NYSE:EVTC) last announced its earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. The firm had revenue of $228.79 million during the quarter, compared to analyst estimates of $217.97 million. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.72 EPS. On average, equities analysts predict that EVERTEC will post 2.63 earnings per share for the current year.

Insider Transactions at EVERTEC

In other EVERTEC news, EVP Paola Perez-Surillo sold 14,585 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $37.15, for a total transaction of $541,832.75. Following the completion of the sale, the executive vice president now directly owns 35,203 shares in the company, valued at $1,307,791.45. This represents a 29.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Morgan M. Schuessler sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $37.45, for a total value of $2,996,000.00. Following the transaction, the chief executive officer now owns 282,172 shares in the company, valued at approximately $10,567,341.40. The trade was a 22.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 191,170 shares of company stock worth $7,149,206. 0.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EVERTEC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVTC. Quadrant Capital Group LLC increased its position in shares of EVERTEC by 4,525.0% in the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 724 shares during the period. Fifth Third Bancorp grew its stake in shares of EVERTEC by 52.1% in the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock worth $41,000 after purchasing an additional 402 shares during the last quarter. Smartleaf Asset Management LLC raised its position in EVERTEC by 199.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 794 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in EVERTEC in the 4th quarter worth approximately $54,000. Finally, Blue Trust Inc. increased its stake 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 period. 96.80% of the stock is currently owned by 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.