EVERTEC (NYSE:EVTC) Upgraded to Equal Weight at Morgan Stanley

EVERTEC (NYSE:EVTC) was upgraded by equities research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a note issued to investors on Thursday,Briefing.com Automated Import reports. The firm currently has a $35.00 price target on the business services provider’s stock, up from their previous price target of $33.00. Morgan Stanley’s price objective would indicate a potential upside of 0.46% from the stock’s current price.

Separately, Susquehanna downgraded EVERTEC from a “neutral” rating to a “negative” rating and lowered their price target for the stock from $38.00 to $28.00 in a report on Thursday, September 5th.

EVERTEC Trading Down 2.3 %

Shares of NYSE:EVTC opened at $34.84 on Thursday. The company has a market capitalization of $2.22 billion, a PE ratio of 27.22, a P/E/G ratio of 1.62 and a beta of 1.15. 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 has a 12-month low of $28.76 and a 12-month high of $42.21. The business’s fifty day simple moving average is $33.64 and its 200-day simple moving average is $33.86.

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

Insider Buying and Selling at EVERTEC

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $34.11, for a total value of $1,364,400.00. Following the completion of the transaction, the executive vice president now owns 129,928 shares of the company’s stock, valued at approximately $4,431,844.08. This represents a 23.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EVERTEC

Large investors have recently added to or reduced their stakes in the stock. Edgestream Partners L.P. purchased a new position in EVERTEC in the 2nd quarter valued at $8,143,000. Aptus Capital Advisors LLC grew its stake in EVERTEC by 24.8% during the 2nd quarter. Aptus Capital Advisors LLC now owns 88,055 shares of the business services provider’s stock valued at $2,928,000 after acquiring an additional 17,475 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in EVERTEC in the 1st quarter valued at about $2,407,000. Sei Investments Co. boosted its holdings in shares of EVERTEC by 7.9% during the 2nd quarter. Sei Investments Co. now owns 480,616 shares of the business services provider’s stock worth $15,981,000 after purchasing an additional 35,118 shares during the last quarter. Finally, Capital International Investors grew its position in shares of EVERTEC by 0.3% in the first quarter. Capital International Investors now owns 3,141,051 shares of the business services provider’s stock valued at $125,328,000 after purchasing an additional 9,110 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

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.