Evertec, Inc. (NYSE:EVTC) Receives $39.00 Consensus PT from Brokerages

Evertec, Inc. (NYSE:EVTC - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six analysts that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $39.00.

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Evertec from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Evertec in a research report on Thursday, July 17th. They set a "hold" rating and a $35.00 price target on the stock. Raymond James Financial reiterated an "outperform" rating and set a $43.00 price target (up from $42.00) on shares of Evertec in a research report on Thursday, July 31st. Susquehanna set a $39.00 target price on shares of Evertec and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Finally, Morgan Stanley dropped their price target on Evertec from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st.

Insider Activity at Evertec

In other news, Director Aldo J. Polak sold 2,243 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $35.72, for a total transaction of $80,119.96. Following the completion of the transaction, the director directly owned 11,946 shares in the company, valued at approximately $426,711.12. This represents a 15.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ivan Pagan sold 6,852 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $36.65, for a total value of $251,125.80. Following the transaction, the director owned 12,473 shares of the company's stock, valued at $457,135.45. This represents a 35.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company's stock.

Institutional Trading of Evertec

Hedge funds and other institutional investors have recently bought and sold shares of the stock. USA Financial Formulas purchased a new stake in Evertec during the 2nd quarter valued at $26,000. Quadrant Capital Group LLC increased its stake in Evertec by 4,525.0% in the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock worth $26,000 after purchasing an additional 724 shares during the period. Parkside Financial Bank & Trust increased its stake in Evertec by 479.1% in the second quarter. Parkside Financial Bank & Trust now owns 1,355 shares of the business services provider's stock worth $49,000 after purchasing an additional 1,121 shares during the period. Blue Trust Inc. increased its stake in Evertec by 39.2% in the first quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock worth $56,000 after purchasing an additional 429 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in Evertec in the fourth quarter worth $54,000. Hedge funds and other institutional investors own 96.80% of the company's stock.

Evertec Stock Down 1.4%

NYSE EVTC traded down $0.53 during mid-day trading on Monday, hitting $37.13. The company's stock had a trading volume of 120,448 shares, compared to its average volume of 318,485. The company's 50 day simple moving average is $35.48 and its 200 day simple moving average is $35.17. Evertec has a twelve month low of $31.11 and a twelve month high of $38.56. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.78 and a beta of 0.96.

Evertec (NYSE:EVTC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. The firm had revenue of $229.61 million for the quarter, compared to the consensus estimate of $222.23 million. Evertec had a net margin of 15.56% and a return on equity of 36.67%. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 EPS. Analysts anticipate that Evertec will post 2.63 earnings per share for the current year.

Evertec Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Monday, August 4th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, August 4th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. Evertec's payout ratio is 9.43%.

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.