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

EVERTEC (NYSE:EVTC - Get Free Report)'s stock had its "outperform" rating restated by William Blair in a report issued on Wednesday,RTT News reports.

Several other research firms have also commented on EVTC. Morgan Stanley upgraded shares of EVERTEC from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $33.00 to $35.00 in a research report on Thursday, November 21st. Susquehanna lowered EVERTEC from a "neutral" rating to a "negative" rating and cut their price target for the company from $38.00 to $28.00 in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $35.00.

EVERTEC Stock Performance

Shares of EVTC stock traded down $1.18 on Wednesday, hitting $33.67. The company had a trading volume of 381,714 shares, compared to its average volume of 384,135. EVERTEC has a twelve month low of $28.76 and a twelve month high of $42.21. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. The firm has a market cap of $2.14 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. The company has a 50-day moving average price of $34.44 and a 200-day moving average price of $33.74.

EVERTEC (NYSE:EVTC - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.13. The company had revenue of $211.80 million during the quarter, compared to the consensus estimate of $211.51 million. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. EVERTEC's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. As a group, equities research analysts predict that EVERTEC will post 2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at EVERTEC

In other EVERTEC news, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $36.08, for a total value of $1,748,184.24. Following the transaction, the chief financial officer now owns 54,998 shares in the company, valued at approximately $1,984,327.84. This trade represents a 46.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Daniel Brignardello sold 3,842 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $36.00, for a total transaction of $138,312.00. Following the sale, the executive vice president now directly owns 32,481 shares of the company's stock, valued at $1,169,316. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.83% of the company's stock.

Hedge Funds Weigh In On EVERTEC

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its position in EVERTEC by 36.6% during the third quarter. FMR LLC now owns 9,114,244 shares of the business services provider's stock worth $308,882,000 after buying an additional 2,440,680 shares in the last quarter. American Century Companies Inc. raised its stake in shares of 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 period. State Street Corp boosted its position in shares of EVERTEC by 1.4% during the 3rd quarter. State Street Corp now owns 2,494,349 shares of the business services provider's stock worth $84,533,000 after purchasing an additional 34,410 shares during the period. Victory Capital Management Inc. increased its holdings in EVERTEC by 9.0% in the 2nd quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider's stock valued at $76,421,000 after purchasing an additional 189,637 shares during the last quarter. Finally, River Road Asset Management LLC raised its position in EVERTEC by 0.3% in the third quarter. River Road Asset Management LLC now owns 1,966,626 shares of the business services provider's stock valued at $66,649,000 after purchasing an additional 5,899 shares during the period. 96.80% of the stock is owned by hedge funds and other institutional investors.

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.