Evertec (NYSE:EVTC) Stock Price Breaks Above 50-Day Moving Average – Here’s Why

by · The Markets Daily

Evertec, Inc. (NYSE:EVTC – Get Free Report) passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $29.40 and traded as high as $32.02. Evertec shares last traded at $31.79, with a volume of 365,336 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on EVTC shares. Morgan Stanley set a $34.00 price objective on shares of Evertec in a report on Thursday, August 6th. Weiss Ratings upgraded Evertec from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday. Finally, Wall Street Zen raised shares of Evertec from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Evertec presently has an average rating of “Hold” and an average price target of $35.00.

Check Out Our Latest Analysis on Evertec

Evertec Stock Performance

The stock’s 50-day simple moving average is $29.46 and its 200 day simple moving average is $28.33. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.70 and a current ratio of 1.70. The company has a market cap of $2.00 billion, a PE ratio of 9.75, a P/E/G ratio of 0.92 and a beta of 0.72.

Evertec (NYSE:EVTC – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. The firm had revenue of $274.82 million for the quarter, compared to analyst estimates of $262.24 million. Evertec had a return on equity of 32.07% and a net margin of 9.80%. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the company earned $0.89 EPS. Evertec has set its FY 2026 guidance at 3.940-4.040 EPS. As a group, equities analysts anticipate that Evertec, Inc. will post 3.53 EPS for the current year.

Insider Activity at Evertec

In other Evertec news, Director Aldo Polak sold 1,094 shares of Evertec stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $30.37, for a total transaction of $33,224.78. Following the transaction, the director owned 14,849 shares of the company’s stock, valued at $450,964.13. The trade was a 6.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Paola Perez-Surillo sold 17,486 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $31.56, for a total transaction of $551,858.16. Following the completion of the sale, the executive vice president owned 46,421 shares of the company’s stock, valued at $1,465,046.76. This represents a 27.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 20,580 shares of company stock worth $644,673. 1.13% of the stock is currently owned by insiders.

Institutional Trading of Evertec

Hedge funds have recently modified their holdings of the stock. Willis Investment Counsel boosted its position in Evertec by 3.3% in the third quarter. Willis Investment Counsel now owns 155,480 shares of the business services provider’s stock worth $4,190,000 after purchasing an additional 4,905 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Evertec by 937.2% in the third quarter. Farther Finance Advisors LLC now owns 7,115 shares of the business services provider’s stock worth $192,000 after purchasing an additional 6,429 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Evertec during the 2nd quarter valued at approximately $38,000. Allworth Financial LP raised its stake in Evertec by 166.9% during the second quarter. Allworth Financial LP now owns 1,372 shares of the business services provider’s stock valued at $38,000 after buying an additional 858 shares during the last quarter. Finally, Nykredit A S purchased a new position in Evertec in the 2nd quarter worth about $112,000. Institutional investors own 96.80% of the company’s stock.

About Evertec

(Get Free Report)

Evertec, Inc is a payment processing and financial technology company that provides transaction-processing services and business technology solutions to financial institutions, merchants, government agencies and other organizations. The company operates through businesses that support electronic payments, merchant acquiring, payment networks and related financial services.

Its products and services include debit and credit card processing, point-of-sale and e-commerce payment acceptance, automated teller machine processing, prepaid services, electronic bill payment and money transfer solutions.

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