EVERTEC (NYSE:EVTC) Given Outperform Rating at William Blair

EVERTEC (NYSE:EVTC)‘s stock had its “outperform” rating reiterated by equities research analysts at William Blair in a note issued to investors on Thursday,RTT News reports.

Several other research analysts also recently weighed in on EVTC. Susquehanna upgraded EVERTEC from a “negative” rating to a “neutral” rating and boosted their price target for the company from $28.00 to $30.00 in a report on Thursday. Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $33.00 to $35.00 in a research note on Thursday, November 21st.

EVERTEC Stock Performance

Shares of NYSE EVTC opened at $37.37 on Thursday. The company has a 50-day simple moving average of $33.36 and a 200-day simple moving average of $33.73. 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 $2.38 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 1.43 and a beta of 1.15. EVERTEC has a 12 month low of $28.76 and a 12 month high of $40.67.

Insider Activity

In other news, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $36.08, for a total value of $1,748,184.24. Following the completion of the sale, the chief financial officer now owns 54,998 shares of the company’s stock, valued at $1,984,327.84. This represents a 46.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel Brignardello sold 3,842 shares of EVERTEC stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $36.00, for a total transaction of $138,312.00. Following the transaction, the executive vice president now owns 32,481 shares in the company, valued at $1,169,316. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,308 shares of company stock valued at $2,440,112 in the last ninety days. Company insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EVTC. FMR LLC boosted its position in shares of EVERTEC by 4.7% in the fourth quarter. FMR LLC now owns 9,542,103 shares of the business services provider’s stock worth $329,489,000 after buying an additional 427,859 shares during the period. State Street Corp lifted its position in EVERTEC by 1.4% during the 3rd quarter. State Street Corp now owns 2,494,349 shares of the business services provider’s stock worth $84,533,000 after acquiring an additional 34,410 shares in the last quarter. River Road Asset Management LLC boosted its holdings in EVERTEC by 0.3% in the 3rd quarter. River Road Asset Management LLC now owns 1,966,626 shares of the business services provider’s stock worth $66,649,000 after acquiring an additional 5,899 shares during the period. Dimensional Fund Advisors LP grew its position in EVERTEC by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,628,404 shares of the business services provider’s stock valued at $56,229,000 after acquiring an additional 32,330 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of EVERTEC by 0.8% during the fourth quarter. Northern Trust Corp now owns 847,176 shares of the business services provider’s stock valued at $29,253,000 after purchasing an additional 7,073 shares during the period. 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.