EVERTEC (NYSE:EVTC) Price Target Cut to $42.00

EVERTEC (NYSE:EVTC) had its price objective cut by Keefe, Bruyette & Woods from $47.00 to $42.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

EVERTEC Stock Up 5.4 %

NYSE:EVTC opened at $31.20 on Monday. The stock’s fifty day moving average price is $34.53 and its two-hundred day moving average price is $37.59. EVERTEC has a 52-week low of $28.76 and a 52-week high of $42.21. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.59 and a current ratio of 1.59. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 31.52, a P/E/G ratio of 1.88 and a beta of 1.13.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.09. EVERTEC had a return on equity of 29.86% and a net margin of 8.87%. The firm had revenue of $205.32 million for the quarter, compared to the consensus estimate of $200.75 million. On average, analysts anticipate that EVERTEC will post 2.38 EPS for the current year.

EVERTEC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Monday, April 29th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Friday, April 26th. EVERTEC’s dividend payout ratio (DPR) is currently 20.20%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its position in shares of EVERTEC by 386.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,296,315 shares of the business services provider’s stock valued at $53,071,000 after buying an additional 1,029,827 shares in the last quarter. Norges Bank bought a new stake in shares of EVERTEC in the 4th quarter valued at $19,626,000. Sunriver Management LLC increased its position in shares of EVERTEC by 22.3% in the 4th quarter. Sunriver Management LLC now owns 827,458 shares of the business services provider’s stock valued at $33,876,000 after buying an additional 150,935 shares in the last quarter. Vanguard Group Inc. increased its position in shares of EVERTEC by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 7,453,242 shares of the business services provider’s stock valued at $305,136,000 after buying an additional 68,871 shares in the last quarter. Finally, Invenomic Capital Management LP bought a new stake in shares of EVERTEC in the 1st quarter valued at $2,407,000. Institutional investors and hedge funds own 96.80% of the company’s stock.

About EVERTEC

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.