EVERTEC’s (EVTC) “Outperform” Rating Reiterated at William Blair

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

Several other analysts have also commented on the stock. Morgan Stanley raised 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 research report on Thursday, November 21st. Susquehanna raised shares of EVERTEC from a “negative” rating to a “neutral” rating and increased their price target for the company from $28.00 to $30.00 in a research report on Thursday.

EVERTEC Stock Down 0.5 %

Shares of EVERTEC stock opened at $37.37 on Thursday. 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 has a 1 year low of $28.76 and a 1 year high of $40.67. The firm’s 50-day moving average is $33.43 and its two-hundred day moving average is $33.76. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 1.43 and a beta of 1.15.

EVERTEC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 3rd will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, March 3rd. EVERTEC’s payout ratio is currently 11.56%.

Insider Activity at EVERTEC

In related news, EVP Daniel Brignardello sold 3,842 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $36.00, for a total value of $138,312.00. Following the completion of the transaction, the executive vice president now directly owns 32,481 shares of the company’s stock, valued at $1,169,316. This trade represents a 10.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the 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 $1,984,327.84. The trade was a 46.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,308 shares of company stock valued at $2,440,112 in the last three months. 0.83% of the stock is owned by insiders.

Hedge Funds Weigh In On EVERTEC

Institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC raised its position in EVERTEC by 4,525.0% during the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock worth $26,000 after buying an additional 724 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in EVERTEC during the 3rd quarter worth approximately $28,000. Fifth Third Bancorp raised its position in EVERTEC by 52.1% during the 4th quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock worth $41,000 after buying an additional 402 shares during the last quarter. Smartleaf Asset Management LLC raised its position in EVERTEC by 199.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock worth $41,000 after buying an additional 794 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in EVERTEC during the 4th quarter worth approximately $54,000. 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.