Shares of Evertec Inc (NYSE:EVTC) have been assigned a consensus rating of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $23.20.

EVTC has been the subject of several analyst reports. ValuEngine cut shares of Evertec from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Deutsche Bank increased their price target on shares of Evertec from $20.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. Zacks Investment Research upgraded shares of Evertec from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research note on Thursday, July 26th. Morgan Stanley increased their price objective on shares of Evertec from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 1st. Finally, Raymond James initiated coverage on shares of Evertec in a research report on Friday, June 15th. They set a “market perform” rating on the stock.

Shares of Evertec stock traded down $0.10 during trading on Friday, reaching $23.80. The company’s stock had a trading volume of 1,607 shares, compared to its average volume of 312,036. Evertec has a 52-week low of $12.60 and a 52-week high of $25.55. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 16.16 and a beta of 1.23. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.63 and a current ratio of 1.63.

Evertec (NYSE:EVTC) last announced its quarterly earnings data on Tuesday, July 31st. The business services provider reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. Evertec had a net margin of 12.91% and a return on equity of 64.95%. The company had revenue of $113.35 million during the quarter, compared to analysts’ expectations of $111.77 million. During the same quarter in the prior year, the company earned $0.44 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. equities research analysts forecast that Evertec will post 1.58 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Monday, August 6th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Friday, August 3rd. Evertec’s payout ratio is presently 13.61%.

In other news, insider Diana I. Rivera-Ramirez sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $23.55, for a total transaction of $35,325.00. Following the sale, the insider now owns 24,915 shares of the company’s stock, valued at approximately $586,748.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Philip E. Steurer sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $24.39, for a total transaction of $243,900.00. Following the sale, the chief operating officer now directly owns 123,930 shares in the company, valued at approximately $3,022,652.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,500 shares of company stock worth $1,759,985. Insiders own 0.76% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in EVTC. Rhumbline Advisers boosted its holdings in shares of Evertec by 138.9% during the 1st quarter. Rhumbline Advisers now owns 138,924 shares of the business services provider’s stock valued at $2,271,000 after acquiring an additional 80,771 shares during the last quarter. Comerica Bank purchased a new stake in shares of Evertec during the 1st quarter valued at about $1,116,000. Swiss National Bank boosted its holdings in shares of Evertec by 5.4% during the 1st quarter. Swiss National Bank now owns 107,074 shares of the business services provider’s stock valued at $1,751,000 after acquiring an additional 5,500 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Evertec by 2.3% during the 1st quarter. Northern Trust Corp now owns 780,951 shares of the business services provider’s stock valued at $12,769,000 after acquiring an additional 17,555 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Evertec by 99.6% during the 1st quarter. BlackRock Inc. now owns 7,779,713 shares of the business services provider’s stock valued at $127,198,000 after acquiring an additional 3,881,373 shares during the last quarter. 79.11% of the stock is currently owned by hedge funds and other institutional investors.

About Evertec

EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.

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Analyst Recommendations for Evertec (NYSE:EVTC)

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