EVERTEC (NYSE:EVTC) Earns Outperform Rating from William Blair

William Blair restated their outperform rating on shares of EVERTEC (NYSE:EVTC) in a research report released on Wednesday morning,RTT News reports.

A number of other research analysts have also recently weighed in on EVTC. Susquehanna cut shares of EVERTEC from a “neutral” rating to a “negative” rating and dropped their price objective for the company from $38.00 to $28.00 in a report on Thursday, September 5th. Morgan Stanley upgraded shares of EVERTEC from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $33.00 to $35.00 in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, EVERTEC presently has an average rating of “Hold” and an average price target of $35.00.

EVERTEC Stock Down 3.4 %

NYSE:EVTC opened at $33.67 on Wednesday. EVERTEC has a 52 week low of $28.76 and a 52 week high of $42.21. The stock’s fifty day moving average is $34.45 and its two-hundred day moving average is $33.74. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. 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 (NYSE:EVTC) last posted its earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.13. The firm had revenue of $211.80 million for the quarter, compared to analyst estimates of $211.51 million. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. EVERTEC’s revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. Research analysts anticipate that EVERTEC will post 2.55 EPS for the current year.

EVERTEC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, October 28th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.20 annualized dividend and a yield of 0.59%. EVERTEC’s dividend payout ratio (DPR) is 15.63%.

Insider Buying and Selling

In other EVERTEC news, EVP Daniel Brignardello sold 3,842 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $36.00, for a total value of $138,312.00. Following the sale, the executive vice president now directly owns 32,481 shares in the company, valued at $1,169,316. This trade represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the company’s stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is owned by insiders.

Hedge Funds Weigh In On EVERTEC

Several hedge funds have recently added to or reduced their stakes in EVTC. FMR LLC lifted its position in shares of EVERTEC by 36.6% during the 3rd quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock worth $308,882,000 after buying an additional 2,440,680 shares during the last quarter. Edgestream Partners L.P. acquired a new position in EVERTEC in the second quarter valued at $8,143,000. American Century Companies Inc. boosted its stake in 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 valued at $145,318,000 after acquiring an additional 208,183 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of EVERTEC by 9.0% during the second quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider’s stock worth $76,421,000 after purchasing an additional 189,637 shares during the last quarter. Finally, F M Investments LLC acquired a new stake in shares of EVERTEC during the second quarter worth about $5,672,000. 96.80% of the stock is currently 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.