Miguel Vizcarrondo, the Executive Vice President of EVERTEC, Inc. (NYSE:EVTC), recently sold 8,123 shares of the company's common stock. According to InvestingPro data, EVERTEC has maintained dividend payments for 12 consecutive years and shows strong financial health with a current ratio of 1.97x. The shares were sold at a weighted average price of $34.0942 per share, resulting in a total transaction value of approximately $276,947. Following this transaction, Vizcarrondo holds 113,915 shares directly. The sales were executed on December 20, 2024, with the share prices ranging from $34.00 to $34.1950. With a market capitalization of $2.1 billion and expected net income growth this year, InvestingPro analysis suggests the stock is currently undervalued. Subscribers can access additional ProTips and comprehensive financial analysis in the Pro Research Report.
In other recent news, EVERTEC, Inc. has been making significant strides in its market performance and financial health. The company's most recent third-quarter results for 2024 demonstrated growth in all business segments with margins surpassing expectations. Notably, EVERTEC's operations in Puerto Rico showed strong performance, and substantial organic growth was observed in the Latin America region, further bolstered by the acquisition of Sinqia.
Morgan Stanley (NYSE:MS) recently upgraded EVERTEC's stock from Underweight to Equalweight, raising the price target to $35. This upgrade is a result of significant improvements in the company's market position, including the strategic acquisition of Sinqia, which has diversified EVERTEC's revenue away from Puerto Rico and into the faster-growing Latin American markets.
These recent developments highlight EVERTEC's robust financial health and growth trajectory. The successful expansion in the Latin America market, including the Sinqia acquisition, is expected to contribute to sustained growth. The company's leadership anticipates continued growth across all operations, with the integration of Sinqia projected to boost EVERTEC's performance in the Latin America market.
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