William Blair Reaffirms "Outperform" Rating for EVERTEC (NYSE:EVTC)

William Blair reissued their outperform rating on shares of EVERTEC (NYSE:EVTC - Free Report) in a research note issued to investors on Thursday morning,RTT News reports.

A number of other analysts have also issued reports on EVTC. Morgan Stanley upgraded EVERTEC from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $33.00 to $35.00 in a report on Thursday, November 21st. Susquehanna raised shares of EVERTEC from a "negative" rating to a "neutral" rating and boosted their target price for the stock from $28.00 to $30.00 in a research report on Thursday.

EVERTEC Stock Performance

Shares of EVERTEC stock traded up $0.60 on Thursday, reaching $37.89. 381,782 shares of the stock were exchanged, compared to its average volume of 326,270. EVERTEC has a 1-year low of $28.76 and a 1-year high of $40.67. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. The business has a fifty day moving average price of $33.43 and a two-hundred day moving average price of $33.78. The firm has a market capitalization of $2.41 billion, a PE ratio of 29.60, a PEG ratio of 1.43 and a beta of 1.15.

EVERTEC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 3rd will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. EVERTEC's payout ratio is 11.56%.

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Insiders Place Their Bets

In other news, EVP Miguel Vizcarrondo sold 8,123 shares of the business's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $34.09, for a total transaction of $276,913.07. Following the transaction, the executive vice president now owns 113,915 shares in the company, valued at approximately $3,883,362.35. The trade was a 6.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.83% of the company's stock.

Institutional Investors Weigh In On EVERTEC

Several large investors have recently modified their holdings of EVTC. Quadrant Capital Group LLC grew its stake in shares of EVERTEC by 4,525.0% during the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock valued at $26,000 after purchasing an additional 724 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of EVERTEC in the 3rd quarter valued at $28,000. Fifth Third Bancorp raised 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 worth $41,000 after purchasing an additional 402 shares during the period. Smartleaf Asset Management LLC lifted its stake in 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. acquired a new position in EVERTEC during the 4th quarter worth approximately $54,000. 96.80% of the stock is currently owned by institutional investors.

About EVERTEC

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.