EVERTEC (NYSE:EVTC) Stock Rating Upgraded by Susquehanna

Susquehanna upgraded shares of EVERTEC (NYSE:EVTC) from a negative rating to a neutral rating in a report published on Thursday, MarketBeat.com reports. Susquehanna currently has $30.00 target price on the business services provider’s stock, up from their prior target price of $28.00.

EVTC has been the topic of a number of other reports. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a research note on Wednesday, December 18th. Morgan Stanley raised shares of EVERTEC from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $33.00 to $35.00 in a research note on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, EVERTEC has a consensus rating of “Hold” and an average price target of $35.67.

EVERTEC Trading Up 16.0 %

Shares of EVERTEC stock opened at $37.50 on Thursday. The firm has a market capitalization of $2.39 billion, a PE ratio of 29.30, a P/E/G ratio of 1.43 and a beta of 1.15. EVERTEC has a twelve month low of $28.76 and a twelve month high of $41.32. The firm’s 50-day moving average price is $33.28 and its 200 day moving average price is $33.70. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84.

EVERTEC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 3rd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. EVERTEC’s payout ratio is 11.56%.

Insider Buying and Selling at EVERTEC

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

Institutional Trading of EVERTEC

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of EVERTEC by 4.7% during the 4th 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 last quarter. State Street Corp increased its holdings in EVERTEC by 1.4% in the 3rd quarter. State Street Corp now owns 2,494,349 shares of the business services provider’s stock valued at $84,533,000 after purchasing an additional 34,410 shares during the last quarter. River Road Asset Management LLC increased 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 valued at $66,649,000 after purchasing an additional 5,899 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in EVERTEC by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,628,404 shares of the business services provider’s stock valued at $56,229,000 after purchasing an additional 32,330 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in EVERTEC by 0.8% in the 4th 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 last quarter. Institutional investors and hedge funds 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.