Evertec (NYSE:EVTC) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Equities researchers at Deutsche Bank Aktiengesellschaft started coverage on shares of Evertec (NYSE:EVTC - Get Free Report) in a research report issued to clients and investors on Thursday, Marketbeat Ratings 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 objective suggests a potential upside of 3.66% from the company's current price.

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

Evertec Stock Performance

Shares of NYSE:EVTC traded up $0.11 during midday trading on Thursday, hitting $33.76. The company's stock had a trading volume of 580,048 shares, compared to its average volume of 340,302. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 16.97 and a beta of 0.98. The stock's 50 day simple moving average is $36.34 and its 200 day simple moving average is $34.99. Evertec has a fifty-two week low of $31.11 and a fifty-two week high of $38.56. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.99 and a current ratio of 1.99.

Evertec (NYSE:EVTC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $217.97 million. During the same period last year, the business posted $0.72 earnings per share. The firm's revenue was up 11.4% compared to the same quarter last year. As a group, research analysts anticipate that Evertec will post 2.63 earnings per share for the current year.

Insider Activity

In other news, Director Ivan Pagan sold 6,852 shares of Evertec 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 completion of the transaction, the director owned 12,473 shares in the company, valued at approximately $457,135.45. The trade was a 35.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Aldo J. Polak sold 2,243 shares of Evertec stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $35.72, for a total transaction of $80,119.96. Following the completion of the transaction, the director owned 11,946 shares of the company's stock, valued at $426,711.12. This trade represents a 15.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,634 shares of company stock valued at $2,742,976. 0.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of EVTC. Raymond James Financial Inc. bought a new position in shares of Evertec in the fourth quarter valued at approximately $5,356,000. Corient Private Wealth LLC raised its position in Evertec by 2.4% in the 4th quarter. Corient Private Wealth LLC now owns 39,893 shares of the business services provider's stock worth $1,378,000 after purchasing an additional 933 shares during the last quarter. Cibc World Markets Corp bought a new position in Evertec in the 4th quarter worth approximately $208,000. Sei Investments Co. raised its position in Evertec by 13.4% in the 4th quarter. Sei Investments Co. now owns 575,261 shares of the business services provider's stock worth $19,864,000 after purchasing an additional 67,956 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Evertec in the 4th quarter worth approximately $473,000. 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.