Deutsche Bank Aktiengesellschaft Begins Coverage on Evertec (NYSE:EVTC)

Investment analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of Evertec (NYSE:EVTC - Get Free Report) in a note issued to investors on Thursday, MarketBeat.com reports. The firm set a "hold" rating and a $35.00 price target on the business services provider's stock. Deutsche Bank Aktiengesellschaft's price target points to a potential upside of 5.14% from the stock's previous close.

Other analysts have also recently issued reports about the company. Raymond James Financial increased their price objective on Evertec from $39.00 to $42.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Susquehanna set a $39.00 price objective on Evertec and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods increased their price objective on Evertec from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Evertec presently has an average rating of "Moderate Buy" and an average target price of $39.00.

Evertec Price Performance

Shares of EVTC stock traded down $0.42 during trading hours on Thursday, reaching $33.29. The company had a trading volume of 460,093 shares, compared to its average volume of 339,032. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.99 and a current ratio of 1.99. The stock has a fifty day moving average of $36.30 and a 200-day moving average of $34.99. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 1.84 and a beta of 0.98. Evertec has a 12-month low of $31.11 and a 12-month high of $38.56.

Evertec (NYSE:EVTC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.06. Evertec had a return on equity of 38.45% and a net margin of 14.89%. 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 business posted $0.72 earnings per share. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities analysts anticipate that Evertec will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Daniel Brignardello sold 7,641 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $36.60, for a total transaction of $279,660.60. Following the sale, the executive vice president owned 31,277 shares of the company's stock, valued at $1,144,738.20. The trade was a 19.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Aldo J. Polak sold 2,243 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $35.72, for a total value of $80,119.96. Following the sale, the director directly owned 11,946 shares in the company, valued at $426,711.12. This trade represents a 15.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,634 shares of company stock worth $2,742,976 in the last three months. Company insiders own 0.63% of the company's stock.

Institutional Investors Weigh In On Evertec

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its holdings in Evertec by 4,525.0% in the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock valued at $26,000 after acquiring an additional 724 shares during the last quarter. USA Financial Formulas acquired a new position in Evertec in the 2nd quarter valued at $26,000. Johnson Financial Group Inc. acquired a new position in Evertec in the 4th quarter valued at $54,000. Blue Trust Inc. raised its holdings in Evertec by 39.2% in the 1st quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock valued at $56,000 after acquiring an additional 429 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in Evertec by 44.7% in the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock valued at $62,000 after acquiring an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 96.80% of the company's stock.

About Evertec

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.