Evertec (NYSE:EVTC) Stock Rating Upgraded by Wall Street Zen

Evertec (NYSE:EVTC) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

EVTC has been the subject of several other research reports. Weiss Ratings raised Evertec from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, October 21st. Morgan Stanley set a $34.00 price target on Evertec in a research report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Evertec from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Evertec has an average rating of “Hold” and an average target price of $36.67.

Evertec Price Performance

Shares of NYSE EVTC opened at $33.69 on Friday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.70 and a current ratio of 1.70. The company has a 50 day simple moving average of $29.94 and a two-hundred day simple moving average of $28.49. Evertec has a fifty-two week low of $21.81 and a fifty-two week high of $35.28. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 9.89, a P/E/G ratio of 0.93 and a beta of 0.71.

Evertec (NYSE:EVTC) last announced its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.09. Evertec had a return on equity of 32.07% and a net margin of 9.80%. The firm had revenue of $282.99 million during the quarter, compared to the consensus estimate of $272.94 million. During the same period in the prior year, the company posted $0.92 earnings per share. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. Analysts expect that Evertec will post 3.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Evertec news, Director Aldo Polak sold 1,094 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $30.37, for a total value of $33,224.78. Following the sale, the director directly owned 14,849 shares of the company’s stock, valued at approximately $450,964.13. The trade was a 6.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Morgan Schuessler sold 145,000 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $34.77, for a total value of $5,041,650.00. Following the transaction, the chief executive officer directly owned 305,054 shares in the company, valued at $10,606,727.58. This represents a 32.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 165,580 shares of company stock worth $5,686,323. Corporate insiders own 1.13% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EVTC. Diversified Trust Co raised its stake in shares of Evertec by 4.6% during the third quarter. Diversified Trust Co now owns 32,352 shares of the business services provider’s stock valued at $872,000 after acquiring an additional 1,421 shares in the last quarter. Maryland State Retirement & Pension System raised its position in Evertec by 48.1% during the third quarter. Maryland State Retirement & Pension System now owns 13,144 shares of the business services provider’s stock valued at $354,000 after acquiring an additional 4,270 shares in the last quarter. Lido Advisors LLC lifted its holdings in Evertec by 23.6% during the 3rd quarter. Lido Advisors LLC now owns 17,389 shares of the business services provider’s stock worth $469,000 after buying an additional 3,319 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Evertec by 3.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,687 shares of the business services provider’s stock valued at $375,000 after acquiring an additional 484 shares during the period. Finally, Paragon Advisors LLC acquired a new position in Evertec in the third quarter valued at approximately $237,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Evertec Company Profile

Evertec, Inc is a payment processing and financial technology company that provides transaction-processing services and business technology solutions to financial institutions, merchants, government agencies and other organizations. The company operates through businesses that support electronic payments, merchant acquiring, payment networks and related financial services.

Its products and services include debit and credit card processing, point-of-sale and e-commerce payment acceptance, automated teller machine processing, prepaid services, electronic bill payment and money transfer solutions.