Evertec (NYSE:EVTC) Now Covered by Susquehanna Bancshares

Research analysts at Susquehanna Bancshares began coverage on shares of Evertec (NYSE:EVTC) in a report issued on Friday, June 28th, Marketbeat reports. The brokerage set a “positive” rating and a $36.00 price target on the business services provider’s stock. Susquehanna Bancshares’ target price would suggest a potential upside of 11.25% from the stock’s current price.

Separately, Zacks Investment Research downgraded shares of Haynes International from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $31.17.

Shares of NYSE EVTC traded down $0.48 during trading on Friday, hitting $32.36. 354,062 shares of the company were exchanged, compared to its average volume of 311,131. The stock has a market cap of $2.34 billion, a P/E ratio of 19.04 and a beta of 0.83. Evertec has a 1 year low of $22.41 and a 1 year high of $33.45. The stock has a fifty day moving average price of $31.12. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.47 and a current ratio of 1.47.

Evertec (NYSE:EVTC) last issued its earnings results on Wednesday, May 1st. The business services provider reported $0.46 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 analyst estimates of $116.82 million. During the same period in the previous year, the firm earned $0.47 EPS. The business’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Evertec will post 1.76 earnings per share for the current year.

In related news, General Counsel Luis A. Rodriguez-Gonzalez sold 13,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $28.60, for a total transaction of $371,800.00. Following the transaction, the general counsel now directly owns 73,526 shares in the company, valued at $2,102,843.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Philip E. Steurer sold 27,940 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $29.41, for a total value of $821,715.40. Following the transaction, the chief operating officer now owns 89,334 shares in the company, valued at $2,627,312.94. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in EVTC. Krane Funds Advisors LLC increased its position in Evertec by 5.6% in the first quarter. Krane Funds Advisors LLC now owns 7,587 shares of the business services provider’s stock worth $211,000 after buying an additional 400 shares during the period. Oregon Public Employees Retirement Fund increased its position in Evertec by 1.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 23,783 shares of the business services provider’s stock worth $778,000 after buying an additional 400 shares during the period. Mason Street Advisors LLC increased its position in Evertec by 2.9% in the first quarter. Mason Street Advisors LLC now owns 19,293 shares of the business services provider’s stock worth $537,000 after buying an additional 543 shares during the period. Piedmont Investment Advisors Inc. increased its position in Evertec by 5.1% in the first quarter. Piedmont Investment Advisors Inc. now owns 15,117 shares of the business services provider’s stock worth $420,000 after buying an additional 740 shares during the period. Finally, Comerica Bank increased its position in Evertec by 1.6% in the first quarter. Comerica Bank now owns 59,641 shares of the business services provider’s stock worth $1,732,000 after buying an additional 914 shares during the period. Hedge funds and other institutional investors own 77.79% of the company’s stock.

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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Analyst Recommendations for Evertec (NYSE:EVTC)

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