EVERTEC (NYSE:EVTC) Price Target Raised to $39.00 at Susquehanna

EVERTEC (NYSE:EVTC) had its target price raised by Susquehanna from $35.00 to $39.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. Susquehanna’s target price points to a potential upside of 2.23% from the stock’s previous close.

A number of other analysts have also commented on the company. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th. Keefe, Bruyette & Woods increased their price objective on shares of EVERTEC from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Finally, Raymond James raised their price target on shares of EVERTEC from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

EVERTEC Stock Down 0.2%

EVTC traded down $0.06 on Tuesday, hitting $38.15. The company had a trading volume of 21,704 shares, compared to its average volume of 383,829. EVERTEC has a 12-month low of $28.76 and a 12-month high of $38.32. 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 stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 1.43 and a beta of 1.02. The stock has a fifty day moving average price of $35.07 and a 200-day moving average price of $34.63.

EVERTEC (NYSE:EVTC) last issued 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 company had revenue of $228.79 million for the quarter, compared to the consensus estimate of $217.97 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. EVERTEC’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 earnings per share. Analysts predict that EVERTEC will post 2.63 EPS for the current fiscal year.

Insider Transactions at EVERTEC

In other news, EVP Paola Perez-Surillo sold 14,585 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $37.15, for a total value of $541,832.75. Following the transaction, the executive vice president now directly owns 35,203 shares of the company’s stock, valued at $1,307,791.45. The trade was a 29.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Morgan M. Schuessler sold 80,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $37.45, for a total value of $2,996,000.00. Following the completion of the transaction, the chief executive officer now owns 282,172 shares in the company, valued at $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. Insiders have sold 257,709 shares of company stock valued at $9,560,936 over the last three months. Company insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EVERTEC

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC lifted its position in 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 acquiring an additional 86,733 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings 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 valued at $3,189,000 after acquiring an additional 846 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in EVERTEC by 3.3% during the 1st 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 in the last quarter. Invenomic Capital Management LP raised its position in EVERTEC by 5.3% in the 1st quarter. Invenomic Capital Management LP now owns 290,508 shares of the business services provider’s stock valued at $10,682,000 after buying an additional 14,529 shares during the last quarter. Finally, Clark Capital Management Group Inc. boosted its position in EVERTEC by 16.9% in 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 currently owned by institutional investors and hedge funds.

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.