EVERTEC (NYSE:EVTC) Stock Rating Upgraded by Morgan Stanley

EVERTEC (NYSE:EVTC) was upgraded by equities researchers 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 brokerage presently has a $35.00 price objective on the business services provider’s stock, up from their prior price objective of $33.00. Morgan Stanley’s price target would suggest a potential upside of 0.46% from the company’s previous close.

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

EVERTEC Price Performance

Shares of NYSE EVTC opened at $34.84 on Thursday. The stock’s 50-day moving average is $33.64 and its two-hundred day moving average is $33.86. 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 has a market cap of $2.22 billion, a price-to-earnings ratio of 27.22, a price-to-earnings-growth ratio of 1.62 and a beta of 1.15. EVERTEC has a 1-year low of $28.76 and a 1-year high of $42.21.

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

Insiders Place Their Bets

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of EVERTEC stock in a transaction that occurred 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 sale, the executive vice president now directly owns 129,928 shares in the company, valued at $4,431,844.08. The trade was a 23.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.83% of the stock is owned by insiders.

Institutional Investors Weigh In On EVERTEC

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