Susquehanna Upgrades EVERTEC (NYSE:EVTC) to "Neutral"

Susquehanna upgraded shares of EVERTEC (NYSE:EVTC - Free Report) from a negative rating to a neutral rating in a research report released on Thursday morning, Marketbeat reports. The firm currently has $30.00 target price on the business services provider's stock, up from their previous target price of $28.00.

A number of other research firms also recently weighed in on EVTC. Morgan Stanley raised EVERTEC from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $33.00 to $35.00 in a research note on Thursday, November 21st. William Blair restated an "outperform" rating on shares of EVERTEC in a research note on Wednesday, December 18th.

EVERTEC Stock Down 0.5 %

Shares of NYSE EVTC traded down $0.18 during trading on Thursday, hitting $37.37. 492,280 shares of the company traded hands, compared to its average volume of 324,848. The business's fifty day moving average is $33.43 and its 200 day moving average is $33.77. EVERTEC has a fifty-two week low of $28.76 and a fifty-two week high of $40.67. 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 firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 29.20, a P/E/G ratio of 1.43 and a beta of 1.15.

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EVERTEC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 3rd will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, March 3rd. EVERTEC's dividend payout ratio (DPR) is presently 11.56%.

Insider Transactions at EVERTEC

In other news, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $36.08, for a total value of $1,748,184.24. Following the completion of the sale, the chief financial officer now owns 54,998 shares in the company, valued at $1,984,327.84. This represents a 46.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Daniel Brignardello sold 3,842 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $36.00, for a total transaction of $138,312.00. Following the completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders sold a total of 68,308 shares of company stock valued at $2,440,112 over the last ninety days. 0.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EVERTEC

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVTC. Fifth Third Bancorp increased its position in shares of EVERTEC by 52.1% during the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider's stock valued at $41,000 after acquiring an additional 402 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of EVERTEC by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,747 shares of the business services provider's stock valued at $233,000 after purchasing an additional 429 shares during the last quarter. Bridge City Capital LLC increased its position in shares of EVERTEC by 0.9% during the 4th quarter. Bridge City Capital LLC now owns 68,784 shares of the business services provider's stock valued at $2,375,000 after purchasing an additional 601 shares during the last quarter. Cetera Investment Advisers increased its position in shares of EVERTEC by 6.9% during the 4th quarter. Cetera Investment Advisers now owns 10,645 shares of the business services provider's stock valued at $368,000 after purchasing an additional 690 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in EVERTEC by 4,525.0% during the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock worth $26,000 after buying an additional 724 shares during the last quarter. Hedge funds and other institutional investors 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.