EVERTEC (NYSE:EVTC) Stock Passes Below 50-Day Moving Average – Here’s Why

EVERTEC, Inc. (NYSE:EVTC) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $34.83 and traded as low as $33.80. EVERTEC shares last traded at $34.05, with a volume of 462,356 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EVTC. Morgan Stanley upgraded shares of EVERTEC from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $33.00 to $35.00 in a report on Thursday, November 21st. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $35.00.

EVERTEC Stock Down 0.1 %

The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. The firm has a 50 day moving average price of $34.83 and a 200-day moving average price of $33.84. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 1.63 and a beta of 1.16.

EVERTEC (NYSE:EVTC) last announced its earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The company had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. On average, equities analysts forecast that EVERTEC, Inc. will post 2.55 EPS for the current year.

EVERTEC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, October 28th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Monday, October 28th. EVERTEC’s payout ratio is 15.63%.

Insider Transactions at EVERTEC

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

Institutional Investors Weigh In On EVERTEC

Several hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its stake in EVERTEC by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 178,806 shares of the business services provider’s stock worth $5,945,000 after buying an additional 761 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of EVERTEC by 3.2% during the 2nd quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider’s stock worth $609,000 after acquiring an additional 561 shares during the period. American Century Companies Inc. boosted its position in shares of EVERTEC by 5.0% in the second quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock worth $145,318,000 after acquiring an additional 208,183 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in EVERTEC by 9.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,042 shares of the business services provider’s stock valued at $334,000 after purchasing an additional 860 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in EVERTEC by 8.3% during the second quarter. Envestnet Asset Management Inc. now owns 444,444 shares of the business services provider’s stock worth $14,778,000 after purchasing an additional 33,917 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

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.