Keefe, Bruyette & Woods Issues Positive Forecast for EVERTEC (NYSE:EVTC) Stock Price

EVERTEC (NYSE:EVTC) had its target price boosted by Keefe, Bruyette & Woods from $42.00 to $44.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 23.46% from the stock’s current price.

Several other brokerages have also weighed in on EVTC. William Blair restated an “outperform” rating on shares of EVERTEC in a report on Thursday, February 27th. Susquehanna upgraded shares of EVERTEC from a “negative” rating to a “neutral” rating and raised their price objective for the company from $28.00 to $30.00 in a research report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, EVERTEC presently has an average rating of “Moderate Buy” and an average target price of $37.75.

EVERTEC Stock Performance

EVTC stock opened at $35.64 on Thursday. The company has a market capitalization of $2.28 billion, a P/E ratio of 27.84, a PEG ratio of 1.43 and a beta of 1.02. 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 company has a 50-day simple moving average of $35.03 and a 200 day simple moving average of $34.41. EVERTEC has a fifty-two week low of $28.76 and a fifty-two week high of $38.32.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.06. The business had revenue of $228.79 million for the quarter, compared to analyst estimates of $217.97 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $0.72 earnings per share. Sell-side analysts predict that EVERTEC will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling at EVERTEC

In other news, CEO Morgan M. Schuessler sold 80,000 shares of EVERTEC stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $37.45, for a total transaction of $2,996,000.00. Following the transaction, the chief executive officer now owns 282,172 shares in the company, valued at approximately $10,567,341.40. The trade was a 22.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Paola Perez-Surillo sold 14,585 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $37.15, for a total value of $541,832.75. Following the transaction, the executive vice president now directly owns 35,203 shares in the company, valued at $1,307,791.45. The trade was a 29.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,170 shares of company stock valued at $7,149,206. 0.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its stake in shares of EVERTEC by 4,525.0% during the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock valued at $26,000 after buying an additional 724 shares during the period. Fifth Third Bancorp boosted its position in EVERTEC by 52.1% during the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 402 shares during the last quarter. Smartleaf Asset Management LLC grew 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 purchasing an additional 794 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in EVERTEC in the 4th quarter worth about $54,000. Finally, Blue Trust Inc. raised its stake in shares of EVERTEC by 39.2% during the 1st quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider’s stock worth $56,000 after purchasing an additional 429 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.