William Blair Reaffirms Outperform Rating for EVERTEC (NYSE:EVTC)

EVERTEC (NYSE:EVTC)‘s stock had its “outperform” rating restated by stock analysts at William Blair in a research report issued to clients and investors on Wednesday,RTT News reports.

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

EVERTEC Stock Performance

EVERTEC stock opened at $34.85 on Wednesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. The company has a market cap of $2.22 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. EVERTEC has a fifty-two week low of $28.76 and a fifty-two week high of $42.21. The firm’s 50 day simple moving average is $34.41 and its 200-day simple moving average is $33.74.

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

Insider Activity

In other EVERTEC news, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of EVERTEC stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $36.08, for a total transaction of $1,748,184.24. Following the completion of the transaction, the chief financial officer now directly owns 54,998 shares of the company’s stock, valued at approximately $1,984,327.84. This trade represents a 46.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel Brignardello sold 3,842 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,169,316. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bank of Montreal Can lifted its position in EVERTEC by 1.1% during the 2nd quarter. Bank of Montreal Can now owns 35,084 shares of the business services provider’s stock worth $1,191,000 after buying an additional 381 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of EVERTEC by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider’s stock worth $1,077,000 after purchasing an additional 400 shares in the last quarter. nVerses Capital LLC grew its stake in shares of EVERTEC by 12.5% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the business services provider’s stock valued at $122,000 after purchasing an additional 400 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of EVERTEC by 3.2% in the second quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider’s stock valued at $609,000 after purchasing an additional 561 shares in the last quarter. Finally, Blair William & Co. IL raised its position in EVERTEC by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 31,918 shares of the business services provider’s stock worth $1,061,000 after purchasing an additional 679 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.

About EVERTEC

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.