EVERTEC (NYSE:EVTC) Downgraded by Susquehanna

Susquehanna cut shares of EVERTEC (NYSE:EVTC) from a neutral rating to a negative rating in a research report report published on Thursday, MarketBeat Ratings reports. Susquehanna currently has $28.00 price target on the business services provider’s stock, down from their prior price target of $38.00.

Separately, Keefe, Bruyette & Woods reduced their price target on shares of EVERTEC from $47.00 to $42.00 and set an outperform rating on the stock in a research report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $34.33.

EVERTEC Trading Down 0.9 %

EVTC opened at $31.65 on Thursday. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 1.70 and a beta of 1.15. EVERTEC has a one year low of $28.76 and a one year high of $42.21. The business has a 50 day simple moving average of $33.32 and a two-hundred day simple moving average of $35.59. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.82 and a quick ratio of 1.82.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.19. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. Analysts predict that EVERTEC will post 2.53 EPS for the current year.

EVERTEC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, July 29th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Monday, July 29th. EVERTEC’s dividend payout ratio is currently 20.20%.

Insider Transactions at EVERTEC

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of EVERTEC stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the transaction, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at approximately $4,431,844.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other EVERTEC news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $35.10, for a total value of $1,263,600.00. Following the sale, the executive vice president now directly owns 39,370 shares of the company’s stock, valued at $1,381,887. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 129,928 shares in the company, valued at $4,431,844.08. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On EVERTEC

A number of hedge funds have recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in EVERTEC in the second quarter worth about $28,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of EVERTEC during the fourth quarter valued at approximately $31,000. Principal Securities Inc. purchased a new position in EVERTEC in the 4th quarter worth approximately $36,000. Northwestern Mutual Wealth Management Co. lifted its position in EVERTEC by 866.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock valued at $81,000 after acquiring an additional 2,175 shares in the last quarter. Finally, nVerses Capital LLC boosted its stake in EVERTEC by 68.4% during the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.

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.