StockNews.com Upgrades EVERTEC to 'Buy' Amid Analyst Evaluations

Financial analysts at StockNews.com have adjusted their stance on EVERTEC EVTC, lifting the company's rating from 'hold' to 'buy' this Wednesday. EVERTEC, a prominent player within the transaction processing sector in Latin America and the Caribbean, has caught the attention of various market spectators. Headquartered in San Juan, Puerto Rico, EVTC operates through different segments that include Payment Services in Puerto Rico & Caribbean, Latin America, Merchant Acquiring, and Business Solutions, offering a broad array of services such as merchant acquiring and electronic payment processing.

Analyst Ratings and Price Targets

While StockNews.com has provided a bullish update for EVTC, the company's stock has also been subjected to analysis by several other major financial institutions. For instance, Morgan Stanley, represented by the ticker DB, incremented their price target from $31.00 to $32.00 while maintaining an 'underweight' rating. Susquehanna, meanwhile, reduced their price target from $41.00 to $36.00, yet held a 'neutral' stance on EVERTEC shares. An 'outperform' rating was sustained by Raymond James which upped its price target from $49.00 to $50.00. TheStreet, on the other hand, revised its rating from a 'b' to a 'c+' for the technology firm. The aggregation of these evaluations by MarketBeat indicates a consensus 'Hold' rating with an average price target hovering at $39.33 for EVTC.

Trading Performance and Financial Metrics

EVTC commenced trading at $32.76 recently, with market capitalization standing around $2.12 billion. The firm carries a PE ratio of 22.14, a PEG ratio of 1.13, and a beta of 1.05, reflecting its performance volatility in comparison to the market. Financial stability can be observed with a quick ratio and current ratio both at 1.62, complemented by a manageable debt-to-equity ratio of 0.70. Its stock price has varied between $30.17 and $42.03 over the last fifty-two weeks, with moving averages at $36.33 for fifty days and at $36.91 over two hundred days.

Institutional Involvement and Insider Activity

Diego Viglianco, EVERTEC's COO, parted with 1,128 shares at an average price of $39.79, resulting in a transaction value of $44,883.12. Post-sale, Viglianco still holds 36,765 shares valued at approximately $1,462,879.35. Subsequent filings with the SEC reveal this insider activity. Institutional ownership is impressive at 96.80% of EVERTEC's stock, with various hedge funds and investors adjusting their positions. Loomis Sayles & Co. L P notably bolstered their holding by 16.2%, now owning 1,452,050 shares. Deutsche Bank AG DB also upped their stake by 1.6% in the third quarter. Countering this, Skandinaviska Enskilda Banken AB publ amplified their shares by 50.9%, while Blair William & Co. IL grew its ownership by 12.0% in the same period.

StockNews, EVERTEC, Upgrades, Analysts, Rating, Buy, Hold, Market, Price, Target, PE, Ratio, PEG, Debt, Insider, Institutional, Ownership, Shares, Trading, Financial