EVERTEC (NYSE:EVTC) Hits New 1-Year High Following Analyst Upgrade

Shares of EVERTEC, Inc. (NYSE:EVTC) hit a new 52-week high during trading on Tuesday after Susquehanna raised their price target on the stock from $35.00 to $39.00. Susquehanna currently has a neutral rating on the stock. EVERTEC traded as high as $38.35 and last traded at $38.29, with a volume of 21704 shares. The stock had previously closed at $38.21.

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

Insiders Place Their Bets

In other news, EVP Daniel Brignardello sold 7,641 shares of the 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 transaction, the executive vice president now owns 31,277 shares in the company, valued at $1,144,738.20. This represents a 19.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $36.44, for a total transaction of $1,457,600.00. Following the transaction, the executive vice president now owns 92,509 shares in the company, valued at approximately $3,371,027.96. This trade represents a 30.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 257,709 shares of company stock worth $9,560,936 in the last quarter. 0.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC grew its stake in EVERTEC by 4,525.0% in the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock valued at $26,000 after buying an additional 724 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in EVERTEC by 199.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock valued at $41,000 after buying an additional 794 shares during the last quarter. Fifth Third Bancorp grew its stake in EVERTEC by 52.1% in the 4th quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock valued at $41,000 after buying an additional 402 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in EVERTEC in the 4th quarter valued at $54,000. Finally, Blue Trust Inc. grew its stake in EVERTEC by 39.2% in the 1st 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. Institutional investors and hedge funds own 96.80% of the company’s stock.

EVERTEC Stock Up 0.2%

The business’s 50 day moving average is $35.07 and its 200-day moving average is $34.63. 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 firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 29.91, 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.06. The business had revenue of $228.79 million for the quarter, compared to analyst estimates of $217.97 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. EVERTEC’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. Equities analysts anticipate that EVERTEC, Inc. will post 2.63 EPS for the current fiscal year.

EVERTEC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.20 annualized dividend and a yield of 0.52%. EVERTEC’s dividend payout ratio is 10.05%.

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.