EVERTEC (NYSE:EVTC) Given Outperform Rating at William Blair

EVERTEC (NYSE:EVTC)‘s stock had its “outperform” rating reaffirmed by William Blair in a research report issued on Thursday,RTT News reports.

Several other brokerages have also recently weighed in on EVTC. Susquehanna raised shares of EVERTEC from a “negative” rating to a “neutral” rating and boosted their price objective for the stock from $28.00 to $30.00 in a research note on Thursday. Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $33.00 to $35.00 in a research report on Thursday, November 21st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.67.

EVERTEC Price Performance

Shares of EVERTEC stock traded up $3.55 during trading on Thursday, reaching $35.89. 260,876 shares of the company’s stock were exchanged, compared to its average volume of 287,455. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. EVERTEC has a 1-year low of $28.76 and a 1-year high of $41.32. The firm’s 50-day moving average price is $33.28 and its 200 day moving average price is $33.70. The company has a market cap of $2.28 billion, a P/E ratio of 28.15, a PEG 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 firm’s stock in a transaction dated 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 owns 54,998 shares in the company, valued at approximately $1,984,327.84. This trade represents a 46.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Miguel Vizcarrondo sold 8,123 shares of the business’s 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 transaction, the executive vice president now owns 113,915 shares in the company, valued at approximately $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. Insiders have sold 68,308 shares of company stock worth $2,440,112 over the last 90 days. 0.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EVERTEC

A number of institutional investors and hedge funds have recently modified their holdings of EVTC. Mitsubishi UFJ Asset Management UK Ltd. grew its stake in EVERTEC by 100.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 40,000 shares of the business services provider’s stock valued at $1,381,000 after acquiring an additional 20,000 shares in the last quarter. Zacks Investment Management purchased a new stake in shares of EVERTEC in the third quarter worth $1,258,000. Algert Global LLC grew its position in EVERTEC by 1,285.8% during the third quarter. Algert Global LLC now owns 91,341 shares of the business services provider’s stock worth $3,096,000 after buying an additional 84,750 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of EVERTEC by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider’s stock worth $11,447,000 after purchasing an additional 33,462 shares in the last quarter. Finally, KBC Group NV increased its position in shares of EVERTEC by 34.8% in the fourth quarter. KBC Group NV now owns 3,188 shares of the business services provider’s stock worth $110,000 after purchasing an additional 823 shares during the last quarter. 96.80% of the stock is owned by hedge funds and other 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.