EVERTEC (NYSE:EVTC) Upgraded by Susquehanna to “Neutral” Rating

EVERTEC (NYSE:EVTC) was upgraded by equities research analysts at Susquehanna from a “negative” rating to a “neutral” rating in a research report issued on Thursday,Finviz reports. The brokerage currently has a $30.00 price target on the business services provider’s stock, up from their prior price target of $28.00. Susquehanna’s price objective would suggest a potential downside of 7.03% from the company’s current price.

A number of other research firms also recently commented on EVTC. Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $33.00 to $35.00 in a research report on Thursday, November 21st. William Blair reissued an “outperform” rating on shares of EVERTEC in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.67.

EVERTEC Stock Down 1.2 %

EVTC opened at $32.27 on Thursday. The business’s fifty day moving average is $33.28 and its two-hundred day moving average is $33.70. 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 has a market cap of $2.05 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.43 and a beta of 1.15. EVERTEC has a one year low of $28.76 and a one year high of $41.37.

Insider Activity at EVERTEC

In related news, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $36.08, for a total value of $1,748,184.24. Following the completion of the transaction, the chief financial officer now directly owns 54,998 shares in the company, valued at approximately $1,984,327.84. This represents a 46.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Miguel Vizcarrondo sold 8,123 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.09, for a total value of $276,913.07. Following the completion of the transaction, the executive vice president now owns 113,915 shares of the company’s stock, valued at $3,883,362.35. The trade was a 6.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,308 shares of company stock worth $2,440,112. 0.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EVERTEC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in EVERTEC by 4.7% during the fourth quarter. FMR LLC now owns 9,542,103 shares of the business services provider’s stock worth $329,489,000 after acquiring an additional 427,859 shares during the last quarter. State Street Corp increased its stake in EVERTEC by 1.4% during the third quarter. State Street Corp now owns 2,494,349 shares of the business services provider’s stock worth $84,533,000 after acquiring an additional 34,410 shares during the last quarter. River Road Asset Management LLC increased its stake in EVERTEC by 0.3% during the third quarter. River Road Asset Management LLC now owns 1,966,626 shares of the business services provider’s stock worth $66,649,000 after acquiring an additional 5,899 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in EVERTEC by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,628,404 shares of the business services provider’s stock worth $56,229,000 after acquiring an additional 32,330 shares during the last quarter. Finally, Northern Trust Corp increased its stake in EVERTEC by 0.8% during the fourth quarter. Northern Trust Corp now owns 847,176 shares of the business services provider’s stock worth $29,253,000 after acquiring an additional 7,073 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

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.