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

William Blair reissued their outperform rating on shares of EVERTEC (NYSE:EVTC) in a research report report published on Thursday morning,RTT News reports.

A number of other equities analysts have also issued reports on the stock. Susquehanna upgraded shares of EVERTEC from a “negative” rating to a “neutral” rating and raised their target price for the stock from $28.00 to $30.00 in a research report on Thursday. Morgan Stanley raised shares of 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 report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $35.67.

EVERTEC Price Performance

Shares of NYSE:EVTC opened at $37.50 on Thursday. EVERTEC has a 12 month low of $28.76 and a 12 month high of $41.32. The firm has a market capitalization of $2.39 billion, a P/E ratio of 29.30, a P/E/G ratio of 1.43 and a beta of 1.15. 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’s fifty day moving average price is $33.28 and its 200 day moving average price is $33.70.

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 given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Monday, March 3rd. EVERTEC’s payout ratio is 11.56%.

Insider Buying and Selling at EVERTEC

In other news, EVP Miguel Vizcarrondo sold 8,123 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $34.09, for a total transaction of $276,913.07. Following the sale, the executive vice president now owns 113,915 shares of the company’s stock, valued at $3,883,362.35. The trade was a 6.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value 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 $1,984,327.84. The trade was a 46.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,308 shares of company stock valued at $2,440,112. 0.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On EVERTEC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVTC. Mackenzie Financial Corp purchased a new position in shares of EVERTEC during the 4th quarter worth approximately $368,000. North Star Asset Management Inc. increased its position in EVERTEC by 3.6% during the fourth quarter. North Star Asset Management Inc. now owns 794,171 shares of the business services provider’s stock worth $27,423,000 after buying an additional 27,911 shares in the last quarter. Vident Advisory LLC acquired a new position in shares of EVERTEC in the fourth quarter worth $260,000. Two Sigma Advisers LP lifted its position in shares of EVERTEC by 98.2% in 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 acquiring an additional 60,200 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of EVERTEC by 4.3% during the fourth quarter. Two Sigma Investments LP now owns 279,085 shares of the business services provider’s stock valued at $9,637,000 after acquiring an additional 11,606 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.