EVERTEC (NYSE:EVTC) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of EVERTEC (NYSE:EVTCFree Report) from an underweight rating to an equal weight rating in a research report report published on Thursday, MarketBeat reports. They currently have $35.00 price target on the business services provider’s stock, up from their previous price target of $33.00.

Separately, Susquehanna cut EVERTEC from a “neutral” rating to a “negative” rating and reduced their target price for the company from $38.00 to $28.00 in a research note on Thursday, September 5th.

View Our Latest Stock Analysis on EVTC

EVERTEC Stock Performance

NYSE:EVTC opened at $36.06 on Thursday. The business has a 50 day moving average of $33.64 and a 200 day moving average of $33.86. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 1.62 and a beta of 1.15. EVERTEC has a 1-year low of $28.76 and a 1-year high of $42.21. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97.

EVERTEC (NYSE:EVTCGet Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $211.80 million for the quarter, compared to analysts’ expectations of $211.51 million. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 EPS. On average, sell-side analysts predict that EVERTEC will post 2.55 earnings per share for the current fiscal year.

EVERTEC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, October 28th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date is Monday, October 28th. EVERTEC’s dividend payout ratio (DPR) is 15.63%.

Insiders Place Their Bets

In other news, EVP Miguel Vizcarrondo sold 40,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the transaction, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at $4,431,844.08. This represents a 23.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.83% of the company’s stock.

Institutional Trading of EVERTEC

A number of hedge funds have recently bought and sold shares of EVTC. Opal Wealth Advisors LLC purchased a new stake in EVERTEC during the second quarter valued at $28,000. Public Employees Retirement System of Ohio purchased a new stake in EVERTEC in the third quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in EVERTEC in the third quarter worth about $55,000. Northwestern Mutual Wealth Management Co. increased its position in EVERTEC by 866.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock worth $81,000 after buying an additional 2,175 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in EVERTEC by 90.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock worth $104,000 after buying an additional 1,490 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

EVERTEC Company Profile

(Get Free Report)

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.

Further Reading

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