Evertec (EVTC) Now Covered by Analysts at Keefe, Bruyette & Woods

Stock analysts at Keefe, Bruyette & Woods began coverage on shares of Evertec (NYSE:EVTC) in a research report issued to clients and investors on Thursday, The Fly reports. The firm set an “outperform” rating on the business services provider’s stock.

Other analysts have also issued reports about the company. Zacks Investment Research raised Evertec from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Friday, November 2nd. Raymond James raised Evertec from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 31st. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Evertec presently has a consensus rating of “Buy” and an average target price of $23.29.

Shares of NYSE:EVTC traded up $0.42 during trading on Thursday, hitting $26.80. The stock had a trading volume of 591,500 shares, compared to its average volume of 709,958. Evertec has a 12-month low of $12.88 and a 12-month high of $29.70. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 18.23 and a beta of 1.03. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.52.



Evertec (NYSE:EVTC) last announced its quarterly earnings data on Tuesday, October 30th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. Evertec had a return on equity of 62.09% and a net margin of 16.52%. The firm had revenue of $112.02 million during the quarter, compared to analysts’ expectations of $108.94 million. During the same period last year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities analysts anticipate that Evertec will post 1.66 EPS for the current fiscal year.

In related news, insider Miguel Vizcarrondo sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $24.31, for a total transaction of $486,200.00. Following the sale, the insider now directly owns 195,887 shares of the company’s stock, valued at $4,762,012.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Luis A. Rodriguez-Gonzalez sold 12,000 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $23.48, for a total value of $281,760.00. Following the sale, the executive vice president now directly owns 70,944 shares in the company, valued at $1,665,765.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,500 shares of company stock worth $1,516,085. 0.76% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of EVTC. Harvest Fund Management Co. Ltd grew its holdings in Evertec by 392.3% in the third quarter. Harvest Fund Management Co. Ltd now owns 6,238 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 4,971 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Evertec by 64.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 7,117 shares of the business services provider’s stock valued at $171,000 after purchasing an additional 2,782 shares during the period. First Hawaiian Bank acquired a new stake in Evertec in the third quarter valued at approximately $191,000. United Services Automobile Association acquired a new stake in Evertec in the second quarter valued at approximately $207,000. Finally, Amalgamated Bank acquired a new stake in Evertec in the second quarter valued at approximately $213,000. 79.64% of the stock is currently owned by 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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