EVERTEC (NYSE:EVTC) Stock Passes Below Fifty Day Moving Average – Time to Sell?

Shares of EVERTEC, Inc. (NYSE:EVTC) 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 traded.

Analysts Set New Price Targets

Several analysts recently weighed in on EVTC shares. Morgan Stanley raised shares of EVERTEC from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $33.00 to $35.00 in a report on Thursday, November 21st. William Blair restated an “outperform” rating on shares of EVERTEC in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.00.

EVERTEC Price Performance

The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 1.63 and a beta of 1.16. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. The stock has a fifty day moving average of $34.83 and a 200-day moving average of $33.84.

EVERTEC (NYSE:EVTC) last issued its earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.13. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The business had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $211.51 million. During the same quarter in the prior year, the business posted $0.72 EPS. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities research analysts predict that EVERTEC, Inc. will post 2.55 EPS for the current fiscal year.

EVERTEC Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Daniel Brignardello sold 3,842 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $36.00, for a total transaction of $138,312.00. Following the completion of the sale, the executive vice president now owns 32,481 shares in the company, valued at approximately $1,169,316. This represents a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Miguel Vizcarrondo sold 8,123 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $34.09, for a total value of $276,913.07. Following the completion of the transaction, the executive vice president now owns 113,915 shares in the company, valued at $3,883,362.35. This trade represents a 6.66 % 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 valued at $2,440,112 over the last quarter. Company insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On EVERTEC

Large investors have recently modified their holdings of the stock. FMR LLC increased its stake in EVERTEC by 36.6% in the 3rd quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock valued at $308,882,000 after buying an additional 2,440,680 shares during the period. Edgestream Partners L.P. acquired a new stake in EVERTEC in the second quarter valued at about $8,143,000. American Century Companies Inc. boosted its holdings in EVERTEC by 5.0% in the 2nd quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock valued at $145,318,000 after purchasing an additional 208,183 shares in the last quarter. DF Dent & Co. Inc. increased its position in EVERTEC by 27.5% during the 3rd quarter. DF Dent & Co. Inc. now owns 455,454 shares of the business services provider’s stock worth $15,435,000 after purchasing an additional 98,341 shares during the period. Finally, Barclays PLC raised its stake in shares of EVERTEC by 385.6% during the 3rd quarter. Barclays PLC now owns 115,398 shares of the business services provider’s stock worth $3,910,000 after buying an additional 91,632 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

EVERTEC Company Profile

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.