EVERTEC (NYSE:EVTC) Shares Cross Below 50-Day Moving Average – What’s Next?

by · The Cerbat Gem

EVERTEC, Inc. (NYSE:EVTC – Get Free Report)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $34.83 and traded as low as $33.80. EVERTEC shares last traded at $34.05, with a volume of 462,356 shares changing hands.

Analysts Set New Price Targets

A number of research firms have weighed in on EVTC. Morgan Stanley upgraded shares of EVERTEC from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $33.00 to $35.00 in a research report on Thursday, November 21st. William Blair reiterated an “outperform” rating on shares of EVERTEC in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, EVERTEC has an average rating of “Hold” and an average price target of $35.00.

Read Our Latest Report on EVTC

EVERTEC Stock Performance

The firm has a market capitalization of $2.14 billion, a P/E ratio of 26.27, a P/E/G ratio of 1.60 and a beta of 1.16. 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 firm has a 50-day moving average price of $34.85 and a two-hundred day moving average price of $33.84.

EVERTEC (NYSE:EVTC – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The company had revenue of $211.80 million during the quarter, compared to analyst estimates of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. On average, analysts forecast that EVERTEC, Inc. will post 2.55 EPS for the current fiscal year.

EVERTEC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, October 28th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Monday, October 28th. EVERTEC’s dividend payout ratio (DPR) is presently 15.63%.

Insiders Place Their Bets

In other news, EVP Miguel Vizcarrondo sold 8,123 shares of EVERTEC stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $34.09, for a total value of $276,913.07. Following the transaction, the executive vice president now owns 113,915 shares of the company’s stock, valued at $3,883,362.35. The trade was a 6.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel Brignardello sold 3,842 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $36.00, for a total transaction of $138,312.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 68,308 shares of company stock worth $2,440,112 in the last three months. Corporate insiders own 0.83% of the company’s stock.

Institutional Trading of EVERTEC

A number of institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new stake in EVERTEC in the third quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of EVERTEC during the third quarter valued at about $55,000. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 purchasing an additional 2,175 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in EVERTEC by 90.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock worth $104,000 after purchasing an additional 1,490 shares in the last quarter. Finally, nVerses Capital LLC grew its position in EVERTEC by 12.5% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the business services provider’s stock worth $122,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

EVERTEC Company Profile

(Get Free Report)

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.

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