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

EVERTEC (NYSE:EVTC)‘s stock had its “outperform” rating reissued by equities researchers at William Blair in a research note issued to investors on Thursday,RTT News reports.

A number of other research firms have also weighed in on EVTC. Susquehanna upgraded shares of EVERTEC from a “negative” rating to a “neutral” rating and lifted their price objective for the company from $28.00 to $30.00 in a research report on Thursday. Morgan Stanley upgraded shares of EVERTEC from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $33.00 to $35.00 in a research note on Thursday, November 21st.

EVERTEC Trading Down 0.5 %

Shares of EVTC stock opened at $37.37 on Thursday. The company has a market capitalization of $2.38 billion, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 1.43 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. The business’s 50 day moving average is $33.36 and its two-hundred day moving average is $33.73. EVERTEC has a twelve month low of $28.76 and a twelve month high of $40.67.

Insiders Place Their Bets

In other news, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $36.08, for a total transaction of $1,748,184.24. Following the sale, the chief financial officer now owns 54,998 shares of the company’s stock, valued at $1,984,327.84. The trade was a 46.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Brignardello sold 3,842 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $36.00, for a total value of $138,312.00. Following the completion of the transaction, the executive vice president now directly owns 32,481 shares of the company’s stock, valued at $1,169,316. The trade was a 10.58 % 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 worth $2,440,112. 0.83% of the stock is owned by corporate insiders.

Institutional Trading of EVERTEC

Several large investors have recently bought and sold shares of EVTC. Quadrant Capital Group LLC boosted its position in shares of EVERTEC by 4,525.0% in the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock worth $26,000 after buying an additional 724 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in EVERTEC during the third quarter worth about $28,000. Fifth Third Bancorp lifted its holdings in shares of EVERTEC by 52.1% in the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 402 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of EVERTEC by 199.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 794 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of EVERTEC during the 4th quarter worth approximately $54,000. 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.