EVERTEC, Inc. (NYSE:EVTC) Receives $42.25 Average PT from Analysts

Posted by on Jun 8th, 2022

EVERTEC, Inc. (NYSE:EVTC – Get Rating) has earned a consensus rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $42.25.

A number of equities research analysts have weighed in on the stock. Susquehanna Bancshares decreased their target price on shares of EVERTEC from $49.00 to $43.00 in a research note on Friday, February 25th. Susquehanna dropped their price objective on shares of EVERTEC from $49.00 to $43.00 in a report on Friday, February 25th. StockNews.com downgraded shares of EVERTEC from a “buy” rating to a “hold” rating in a report on Saturday, May 7th. Raymond James decreased their price objective on shares of EVERTEC from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Friday, February 25th. Finally, Zacks Investment Research raised shares of EVERTEC from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd.

In related news, CEO Morgan M. Schuessler sold 74,586 shares of the stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $37.65, for a total transaction of $2,808,162.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joaquin A. Castrillo-Salgado sold 25,000 shares of the firm’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $38.03, for a total transaction of $950,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 155,227 shares of company stock worth $6,010,569. Company insiders own 0.44% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA lifted its position in shares of EVERTEC by 32.3% during the first quarter. BNP Paribas Arbitrage SA now owns 39,026 shares of the business services provider’s stock worth $1,597,000 after purchasing an additional 9,536 shares in the last quarter. Royal Bank of Canada grew its position in shares of EVERTEC by 2.3% during the first quarter. Royal Bank of Canada now owns 285,552 shares of the business services provider’s stock worth $11,689,000 after acquiring an additional 6,523 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in EVERTEC in the first quarter worth about $357,000. First Republic Investment Management Inc. lifted its holdings in EVERTEC by 35.3% in the first quarter. First Republic Investment Management Inc. now owns 45,966 shares of the business services provider’s stock worth $1,881,000 after purchasing an additional 11,997 shares during the period. Finally, Guggenheim Capital LLC lifted its holdings in EVERTEC by 11.2% in the first quarter. Guggenheim Capital LLC now owns 20,014 shares of the business services provider’s stock worth $819,000 after purchasing an additional 2,011 shares during the period. 83.26% of the stock is currently owned by institutional investors and hedge funds.

EVERTEC stock traded down $0.53 during trading hours on Wednesday, hitting $37.85. 5,263 shares of the stock traded hands, compared to its average volume of 238,236. The firm’s 50-day moving average price is $39.20 and its two-hundred day moving average price is $42.54. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.89. The company has a market cap of $2.71 billion, a PE ratio of 16.89 and a beta of 0.96. EVERTEC has a one year low of $36.00 and a one year high of $51.06.

EVERTEC (NYSE:EVTC – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The business services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. The firm had revenue of $150.20 million for the quarter, compared to analysts’ expectations of $146.07 million. EVERTEC had a return on equity of 43.09% and a net margin of 27.40%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. On average, sell-side analysts expect that EVERTEC will post 2.37 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 3rd. Shareholders of record on Monday, May 2nd were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, April 29th. This represents a $0.20 annualized dividend and a yield of 0.53%. EVERTEC’s payout ratio is 8.89%.

EVERTEC Company Profile (Get Rating)

EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; Business Solutions, and Corporate and Other segments. 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.

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