EVERTEC (NYSE:EVTC) Raised to Neutral at Susquehanna

EVERTEC (NYSE:EVTC) was upgraded by equities researchers at Susquehanna from a “negative” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat.com reports. The brokerage currently has a $30.00 price objective on the business services provider’s stock, up from their prior price objective of $28.00. Susquehanna’s target price would indicate a potential downside of 19.73% from the company’s previous close.

A number of other analysts also recently commented on the stock. William Blair restated an “outperform” rating on shares of EVERTEC in a research report on Wednesday, December 18th. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $33.00 to $35.00 in a report on Thursday, November 21st.

EVERTEC Price Performance

Shares of NYSE EVTC opened at $37.37 on Thursday. The stock has a market cap of $2.38 billion, a P/E ratio of 29.20, a P/E/G ratio of 1.43 and a beta of 1.15. The firm’s 50-day simple moving average is $33.36 and its 200 day simple moving average is $33.73. EVERTEC has a fifty-two week low of $28.76 and a fifty-two week high of $40.67. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84.

Insider Transactions at EVERTEC

In other news, 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 completion of the sale, the executive vice president now directly owns 32,481 shares of the company’s stock, valued at $1,169,316. This represents a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of EVERTEC stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 54,998 shares in the company, valued at $1,984,327.84. This represents a 46.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,308 shares of company stock valued at $2,440,112 in the last quarter. Insiders own 0.83% of the company’s stock.

Institutional Trading of EVERTEC

A number of hedge funds have recently bought and sold shares of EVTC. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of EVERTEC during the fourth quarter valued at approximately $3,108,000. Mackenzie Financial Corp purchased a new position in EVERTEC during the 4th quarter worth approximately $368,000. North Star Asset Management Inc. raised its stake in EVERTEC by 3.6% during the 4th quarter. North Star Asset Management Inc. now owns 794,171 shares of the business services provider’s stock valued at $27,423,000 after purchasing an additional 27,911 shares during the period. Vident Advisory LLC acquired a new stake in shares of EVERTEC in the fourth quarter worth $260,000. Finally, Two Sigma Advisers LP grew its holdings in shares of EVERTEC by 98.2% during the fourth quarter. Two Sigma Advisers LP now owns 121,500 shares of the business services provider’s stock valued at $4,195,000 after buying an additional 60,200 shares in the last quarter. 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.