The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. EVERTEC Inc. shares valued at $219,882,530 were sold by POPULAR, INC. on Aug 15. At $31.12 per share, POPULAR, INC. sold 7,065,634 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Rodriguez-Gonzalez Luis A sold 9,238 shares, netting a total of over 347,072 in proceeds. Following the sale of shares at $37.57 each, the insider now holds 30,020 shares.
Before that, Viglianco Diego had sold 1,168 shares from its account. In a trade valued at $47,304, the EVP & Chief Operating Officer traded EVERTEC Inc. shares for $40.50 each. Upon closing the transaction, the insider’s holdings decreased to 1,168 shares, worth approximately $0.72 million.
As published in a research note from Susquehanna on January 24, 2022, EVERTEC Inc. [EVTC] has been rated down from a Positive to a Neutral and the price target has been revised to $49 from $52. This represents a 33.57% premium over Thursday’s closing price. Analysts at Morgan Stanley downgraded the stock from ‘”an Equal-weight”‘ to ‘”an Underweight”‘ outlook in a report released in early March. As of July 14, 2020, Goldman has initiated its “Neutral” rating for EVTC. Earlier on June 28, 2019, Susquehanna initiated its rating. Their recommendation was “a Positive” for EVTC stock.
Analyzing EVTC Stock Performance
On Thursday, EVERTEC Inc. [NYSE: EVTC] plunged -4.12% to $32.55. The stock’s lowest price that day was $31.01, but it reached a high of $33.18 in the same session. During the last five days, there has been a drop of approximately -6.95%. Over the course of the year, EVERTEC Inc. shares have dropped approximately -34.87%. Shares of the company reached a 52-week high of $50.61 on 01/04/22 and a 52-week low of $30.72 on 09/27/22. A 50-day SMA is recorded $33.27, while a 200-day SMA reached $37.48. Nevertheless, trading volume fell to 0.84 million shares from 0.24 million shares the previous day.
Support And Resistance Levels for EVERTEC Inc. (EVTC)
According to the 24-hour chart, there is a support level at 31.31, which, if violated, would cause prices to drop to 30.08. In the upper region, resistance lies at 33.48. The next price resistance is at 34.42. RSI (Relative Strength Index) is 42.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.06, which suggests the price will decrease in the coming days. Percent R is at 69.38%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is EVERTEC Inc. subject to short interest?
Stocks of EVERTEC Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.3 million shares to 2.08 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.38 million shares. A decline of -14.42% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.94 of the overall float, the days-to-cover ratio (short ratio) decline to 7.94.
Which companies own the most shares of EVERTEC Inc. (EVTC)?
According to BlackRock Fund Advisors filings, the company currently owns 8,624,756 shares, which is about 12.92% of the total EVTC shares outstanding. The investor’s shares have plunged by -67,569 from its previous 13-F filing of 8692325.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $233,319,867. Kayne Anderson Rudnick Investment reduced a -4.19% interest valued at $153.79 million while American Century Investment Manag purchased a 198,760 stake. A total of 84,257 shares of EVERTEC Inc. were bought by Capital Research & Management Co during the quarter, and 67,978 were bought by Boston Partners Global Investors,. In its current portfolio, SSgA Funds Management, Inc. holds 2,065,201 shares valued at $64.74 million.
In terms of EVERTEC Inc. share price expectations, FactSet research, analysts set an average price target of $36.00 in the next 12 months, up nearly 6.04% from the previous closing price of $33.95. Analysts anticipate EVERTEC Inc. stock to reach $41.00 by 2022, with the lowest price target being $29.00. On December 07, 2018, Keefe Bruyette assigned a price target of “an Outperform” to the stock and initiated coverage with a $32.