EVERTEC (NYSE:EVTC) Upgraded to Neutral at Susquehanna

EVERTEC (NYSE:EVTC) was upgraded by equities researchers at Susquehanna from a “negative” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a $30.00 price target on the business services provider’s stock, up from their previous price target of $28.00. Susquehanna’s price target points to a potential downside of 19.73% from the stock’s previous close.

A number of other analysts have also recently issued reports on EVTC. William Blair reissued an “outperform” rating on shares of EVERTEC in a research report on Wednesday, December 18th. Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $33.00 to $35.00 in a report on Thursday, November 21st.

EVERTEC Trading Down 0.5 %

Shares of NYSE:EVTC opened at $37.37 on Thursday. The firm has a fifty day moving average of $33.36 and a two-hundred day moving average of $33.73. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC has a 12-month low of $28.76 and a 12-month high of $40.67. The firm has a market capitalization of $2.38 billion, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 1.43 and a beta of 1.15.

Insider Activity

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 shares were sold at an average price of $36.08, for a total transaction of $1,748,184.24. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Miguel Vizcarrondo sold 8,123 shares of EVERTEC stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.09, for a total transaction of $276,913.07. Following the completion of the transaction, the executive vice president now owns 113,915 shares in the company, valued at $3,883,362.35. This trade represents a 6.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,308 shares of company stock valued at $2,440,112. Insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On EVERTEC

Several hedge funds have recently modified their holdings of EVTC. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in EVERTEC during the fourth quarter worth about $3,108,000. Mackenzie Financial Corp acquired a new position in shares of EVERTEC in the 4th quarter worth approximately $368,000. North Star Asset Management Inc. lifted its position in shares of EVERTEC by 3.6% during the 4th quarter. North Star Asset Management Inc. now owns 794,171 shares of the business services provider’s stock worth $27,423,000 after buying an additional 27,911 shares during the period. Vident Advisory LLC acquired a new stake in EVERTEC in the 4th quarter valued at $260,000. Finally, Two Sigma Advisers LP grew its position in EVERTEC by 98.2% in the fourth quarter. Two Sigma Advisers LP now owns 121,500 shares of the business services provider’s stock valued at $4,195,000 after acquiring an additional 60,200 shares during the period. 96.80% of the stock is owned by institutional investors.

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.