Miguel Vizcarrondo, the Executive Vice President of EVERTEC, Inc. (NYSE:EVTC), recently sold 7,890 shares of the company's common stock. The shares were sold at a weighted average price of $35.0652, with prices ranging from $35.00 to $35.185 per share. This transaction, dated December 18, 2024, totals approximately $276,664. Following this sale, Vizcarrondo holds 122,038 shares of EVERTEC, a $2.1 billion market cap company that has maintained dividend payments for 12 consecutive years. According to InvestingPro analysis, EVERTEC currently appears undervalued, with strong financials including a healthy current ratio of 1.97 and expected net income growth this year. For detailed insights and more exclusive tips about EVERTEC, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, EVERTEC has been the subject of significant developments. Morgan Stanley (NYSE:MS) recently upgraded EVERTEC stock from Underweight to Equalweight, raising the price target to $35 from $33. The firm noted improvements in EVERTEC's market position and strategic moves, including the acquisition of Sinqia, which diversified its revenue away from Puerto Rico and into the faster-growing Latin American markets.
In addition to the upgrade, EVERTEC reported strong third quarter results in 2024. All business segments experienced growth with margins surpassing expectations. The company's operations in Puerto Rico performed notably well, with substantial organic growth observed in the Latin America region, further strengthened by the Sinqia acquisition.
The leadership at EVERTEC, specifically President and CEO Mac Schuessler and CFO Joaquin Castrillo, anticipate continued growth across all operations. The integration of Sinqia is expected to boost EVERTEC's performance in the Latin American market. These are recent developments that underscore EVERTEC's robust financial health and growth trajectory.
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