EVERTEC (NYSE:EVTC) Upgraded by Susquehanna to “Neutral” Rating

EVERTEC (NYSE:EVTC) was upgraded by investment analysts at Susquehanna from a “negative” rating to a “neutral” rating in a research note issued to investors on Thursday,Finviz reports. The brokerage presently has a $30.00 target price on the business services provider’s stock, up from their prior target price of $28.00. Susquehanna’s target price indicates a potential downside of 7.03% from the company’s previous close.

Other research analysts have also issued research reports about the company. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a research report on Wednesday, December 18th. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $33.00 to $35.00 in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.67.

EVERTEC Price Performance

Shares of NYSE EVTC opened at $32.27 on Thursday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. EVERTEC has a fifty-two week low of $28.76 and a fifty-two week high of $41.37. The firm has a market capitalization of $2.05 billion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.15. The stock’s 50-day simple moving average is $33.28 and its 200-day simple moving average is $33.70.

Insider Buying and Selling at EVERTEC

In other EVERTEC news, EVP Daniel Brignardello sold 3,842 shares of EVERTEC stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $36.00, for a total value of $138,312.00. Following the transaction, the executive vice president now directly owns 32,481 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, EVP Miguel Vizcarrondo sold 8,123 shares of EVERTEC stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $34.09, for a total value of $276,913.07. Following the completion of the sale, the executive vice president now owns 113,915 shares in the company, valued at approximately $3,883,362.35. This trade represents a 6.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,308 shares of company stock worth $2,440,112. 0.83% of the stock is currently owned by insiders.

Institutional Trading of EVERTEC

A number of institutional investors have recently modified their holdings of EVTC. Quadrant Capital Group LLC boosted its stake in shares of EVERTEC by 4,525.0% in the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock valued at $26,000 after buying an additional 724 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of EVERTEC in the third quarter valued at approximately $28,000. Fifth Third Bancorp boosted its stake in shares of EVERTEC by 52.1% in the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock valued at $41,000 after buying an additional 402 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of EVERTEC by 199.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock valued at $41,000 after buying an additional 794 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in shares of EVERTEC in the fourth quarter valued at approximately $54,000. 96.80% of the stock is currently 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.