EVERTEC (NYSE:EVTC) Stock Passes Below 50 Day Moving Average – Here’s Why

EVERTEC, Inc. (NYSE:EVTC) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $34.83 and traded as low as $33.80. EVERTEC shares last traded at $34.05, with a volume of 462,356 shares changing hands.

Analyst Ratings Changes

A number of analysts have commented on EVTC shares. 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. William Blair restated an “outperform” rating on shares of EVERTEC in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.00.

EVERTEC Stock Down 1.3 %

The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. The business’s 50 day moving average price is $34.85 and its 200 day moving average price is $33.84. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.60 and a beta of 1.16.

EVERTEC (NYSE:EVTC) last released its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.73 by $0.13. The company had revenue of $211.80 million for the quarter, compared to analyst estimates of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The firm’s revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the business earned $0.72 earnings per share. On average, equities analysts forecast that EVERTEC, Inc. will post 2.55 EPS for the current year.

EVERTEC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, October 28th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. EVERTEC’s dividend payout ratio is currently 15.63%.

Insider Buying and Selling at EVERTEC

In related news, EVP Daniel Brignardello sold 3,842 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were 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 of the company’s stock, valued at approximately $1,169,316. This trade represents a 10.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Miguel Vizcarrondo sold 8,123 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $34.09, for a total value of $276,913.07. Following the sale, the executive vice president now owns 113,915 shares of the company’s stock, 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. Over the last three months, insiders have sold 68,308 shares of company stock valued at $2,440,112. Company insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On EVERTEC

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVTC. FMR LLC raised its position in shares of EVERTEC by 36.6% in the third quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock valued at $308,882,000 after buying an additional 2,440,680 shares during the last quarter. American Century Companies Inc. raised its holdings in EVERTEC by 5.0% in the 2nd quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock valued at $145,318,000 after acquiring an additional 208,183 shares during the last quarter. State Street Corp raised its holdings in EVERTEC by 1.4% in the 3rd quarter. State Street Corp now owns 2,494,349 shares of the business services provider’s stock valued at $84,533,000 after acquiring an additional 34,410 shares during the last quarter. River Road Asset Management LLC lifted its stake in EVERTEC by 0.3% in the 3rd quarter. River Road Asset Management LLC now owns 1,966,626 shares of the business services provider’s stock worth $66,649,000 after purchasing an additional 5,899 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of EVERTEC by 9.9% during the 3rd quarter. Natixis Advisors LLC now owns 582,608 shares of the business services provider’s stock worth $19,745,000 after purchasing an additional 52,586 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

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.