Evertec, Inc. (NYSE:EVTC) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Evertec, Inc. (NYSE:EVTC - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six analysts that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $40.00.

EVTC has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their price target on Evertec from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Raymond James Financial raised their price objective on shares of Evertec from $39.00 to $42.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on Evertec in a research report on Thursday. They issued a "hold" rating for the company. Finally, Susquehanna set a $39.00 target price on Evertec and gave the stock a "neutral" rating in a research report on Tuesday, May 20th.

Insider Transactions at Evertec

In other Evertec news, Director Aldo J. Polak sold 2,243 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $35.72, for a total value 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 trade represents a 15.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ivan Pagan sold 6,852 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was 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 trade represents a 35.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,634 shares of company stock worth $2,742,976. 0.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Evertec

Several hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in Evertec by 2.3% in the first quarter. Principal Financial Group Inc. now owns 317,649 shares of the business services provider's stock worth $11,680,000 after purchasing an additional 7,125 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Evertec by 55.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,180 shares of the business services provider's stock worth $414,000 after purchasing an additional 3,980 shares during the last quarter. GAMMA Investing LLC boosted its position in Evertec by 4,773.8% in the first quarter. GAMMA Investing LLC now owns 14,524 shares of the business services provider's stock worth $534,000 after purchasing an additional 14,226 shares during the last quarter. Fifth Third Bancorp boosted its position in Evertec by 44.7% in the first quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock worth $62,000 after purchasing an additional 525 shares during the last quarter. Finally, Blue Trust Inc. boosted its position 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 last quarter. Institutional investors own 96.80% of the company's stock.

Evertec Price Performance

EVTC traded down $0.22 on Thursday, reaching $33.44. The company had a trading volume of 43,667 shares, compared to its average volume of 309,269. Evertec has a one year low of $31.11 and a one year high of $38.56. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.69. The company has a fifty day moving average of $36.38 and a 200-day moving average of $34.99. The company has a market capitalization of $2.13 billion, a P/E ratio of 16.80 and a beta of 0.98.

Evertec (NYSE:EVTC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.06. Evertec had a net margin of 14.89% and a return on equity of 38.45%. The company had revenue of $228.79 million during the quarter, compared to analyst estimates of $217.97 million. During the same period in the prior year, the firm earned $0.72 earnings per share. The business's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts anticipate that Evertec will post 2.63 earnings per share for the current year.

Evertec Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Tuesday, May 13th. Evertec's dividend payout ratio is 10.05%.

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.

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