EVERTEC (NYSE:EVTC) Stock Price Crosses Above Fifty Day Moving Average of $33.33

EVERTEC, Inc. (NYSE:EVTC)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $33.33 and traded as high as $33.58. EVERTEC shares last traded at $33.51, with a volume of 143,284 shares traded.

Analyst Ratings Changes

EVTC has been the topic of several research analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Susquehanna dropped their target price on shares of EVERTEC from $41.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.67.

EVERTEC Stock Down 0.2 %

The company has a current ratio of 1.82, a quick ratio of 1.59 and a debt-to-equity ratio of 1.92. The stock has a market cap of $2.16 billion, a P/E ratio of 33.85, a PEG ratio of 2.02 and a beta of 1.13. The company’s 50 day moving average price is $33.33 and its two-hundred day moving average price is $36.00.

EVERTEC (NYSE:EVTC) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.19. EVERTEC had a net margin of 8.84% and a return on equity of 32.08%. Equities analysts forecast that EVERTEC, Inc. will post 2.38 earnings per share for the current year.

EVERTEC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Monday, July 29th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.60%. The ex-dividend date is Monday, July 29th. EVERTEC’s dividend payout ratio is 20.20%.

Insider Activity

In related news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of EVERTEC stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $35.10, for a total transaction of $1,263,600.00. Following the sale, the executive vice president now owns 39,370 shares of the company’s stock, valued at approximately $1,381,887. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On EVERTEC

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in EVERTEC by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 7,453,242 shares of the business services provider’s stock worth $305,136,000 after purchasing an additional 68,871 shares in the last quarter. American Century Companies Inc. lifted its position in shares of EVERTEC by 5.0% in the second quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock worth $145,318,000 after buying an additional 208,183 shares in the last quarter. Capital International Investors lifted its position in shares of EVERTEC by 0.3% in the first quarter. Capital International Investors now owns 3,141,051 shares of the business services provider’s stock worth $125,328,000 after buying an additional 9,110 shares in the last quarter. Victory Capital Management Inc. boosted its stake in EVERTEC by 9.0% during the second quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider’s stock valued at $76,421,000 after buying an additional 189,637 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in EVERTEC by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,668,011 shares of the business services provider’s stock valued at $68,289,000 after buying an additional 12,575 shares in the last quarter. Institutional investors 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.