Evertec (NYSE:EVTC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Evertec (NYSE:EVTC) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

EVTC has been the subject of a number of other reports. Weiss Ratings raised Evertec from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, October 21st. Keefe, Bruyette & Woods raised their price target on Evertec from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, November 4th. Finally, Morgan Stanley set a $34.00 price target on Evertec in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $36.67.

Evertec Trading Down 0.5%

Shares of Evertec stock opened at $33.40 on Friday. Evertec has a 52-week low of $21.81 and a 52-week high of $35.28. The company has a quick ratio of 1.70, a current ratio of 1.66 and a debt-to-equity ratio of 1.86. The company’s 50-day simple moving average is $30.01 and its 200-day simple moving average is $28.51. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 0.99 and a beta of 0.71.

Evertec (NYSE:EVTC) last posted its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.09. The firm had revenue of $282.99 million during the quarter, compared to analysts’ expectations of $272.94 million. Evertec had a net margin of 9.00% and a return on equity of 32.81%. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. As a group, equities research analysts anticipate that Evertec will post 3.53 earnings per share for the current year.

Evertec Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Monday, November 9th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, November 9th. Evertec’s dividend payout ratio (DPR) is currently 13.16%.

Insider Activity at Evertec

In other news, CEO Morgan M. Schuessler sold 145,000 shares of Evertec stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $34.77, for a total transaction of $5,041,650.00. Following the completion of the sale, the chief executive officer directly owned 305,054 shares in the company, valued at $10,606,727.58. The trade was a 32.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Aldo J. Polak sold 1,094 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $30.37, for a total transaction of $33,224.78. Following the completion of the transaction, the director directly owned 14,849 shares of the company’s stock, valued at approximately $450,964.13. This represents a 6.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 164,580 shares of company stock valued at $5,656,823. 1.13% of the stock is owned by insiders.

Institutional Trading of Evertec

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in Evertec by 1.4% in the first quarter. Royal Bank of Canada now owns 34,824 shares of the business services provider’s stock worth $983,000 after buying an additional 479 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Evertec by 3.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 13,687 shares of the business services provider’s stock valued at $375,000 after buying an additional 484 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Evertec by 13.9% during the first quarter. EverSource Wealth Advisors LLC now owns 4,302 shares of the business services provider’s stock valued at $121,000 after acquiring an additional 524 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Evertec by 6.2% during the first quarter. Cetera Investment Advisers now owns 13,078 shares of the business services provider’s stock valued at $369,000 after acquiring an additional 765 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of Evertec by 166.9% in the 2nd quarter. Allworth Financial LP now owns 1,372 shares of the business services provider’s stock worth $38,000 after acquiring an additional 858 shares during the period. 96.80% of the stock is owned by hedge funds and other institutional investors.

Evertec Company Profile