Analysts Set Evertec Inc (EVTC) PT at $28.75

Shares of Evertec Inc (NYSE:EVTC) have been given an average recommendation of “Buy” by the six ratings firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $28.75.

Separately, Zacks Investment Research upgraded Evertec from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Tuesday, May 7th.

In other news, insider Diana I. Rivera-Ramirez sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $28.10, for a total value of $42,150.00. Following the completion of the transaction, the insider now owns 24,137 shares in the company, valued at approximately $678,249.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Diana I. Rivera-Ramirez sold 3,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $27.10, for a total value of $81,300.00. Following the completion of the transaction, the insider now owns 25,637 shares of the company’s stock, valued at approximately $694,762.70. The disclosure for this sale can be found here. Insiders have sold a total of 45,440 shares of company stock worth $1,316,965 in the last ninety days. 0.63% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. New York State Common Retirement Fund lifted its position in Evertec by 19.0% during the fourth quarter. New York State Common Retirement Fund now owns 207,125 shares of the business services provider’s stock worth $5,944,000 after acquiring an additional 33,045 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in Evertec by 355.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 19,883 shares of the business services provider’s stock valued at $571,000 after buying an additional 15,514 shares during the period. Two Sigma Investments LP acquired a new position in Evertec in the fourth quarter valued at $3,373,000. First Trust Advisors LP lifted its holdings in Evertec by 421.2% in the fourth quarter. First Trust Advisors LP now owns 142,823 shares of the business services provider’s stock valued at $4,099,000 after buying an additional 115,419 shares during the period. Finally, Cavalier Investments LLC acquired a new position in shares of Evertec during the fourth quarter valued at about $468,000. Institutional investors and hedge funds own 77.95% of the company’s stock.

EVTC traded down $0.73 on Friday, hitting $28.66. 190,526 shares of the company’s stock were exchanged, compared to its average volume of 369,015. Evertec has a fifty-two week low of $21.65 and a fifty-two week high of $31.63. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 2.41. The stock has a market cap of $2.08 billion, a PE ratio of 16.86 and a beta of 0.75.

Evertec (NYSE:EVTC) last announced its earnings results on Wednesday, May 1st. The business services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. Evertec had a net margin of 19.44% and a return on equity of 61.11%. The company had revenue of $118.84 million for the quarter, compared to analysts’ expectations of $116.82 million. During the same quarter in the previous year, the company posted $0.47 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that Evertec will post 1.76 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Monday, May 6th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, May 3rd. Evertec’s payout ratio is presently 11.76%.

Evertec Company Profile

EVERTEC, Inc engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates in four segments: Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; and Business Solutions.

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