Arizona State Retirement System Trims Stake in EVERTEC, Inc. (NYSE:EVTC)

Arizona State Retirement System lowered its holdings in EVERTEC, Inc. (NYSE:EVTC) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,067 shares of the business services provider’s stock after selling 462 shares during the period. Arizona State Retirement System’s holdings in EVERTEC were worth $740,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of EVTC. Allspring Global Investments Holdings LLC boosted its stake in shares of EVERTEC by 2.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,682 shares of the business services provider’s stock valued at $546,000 after purchasing an additional 332 shares in the last quarter. Willis Investment Counsel boosted its position in EVERTEC by 1.0% during the fourth quarter. Willis Investment Counsel now owns 34,476 shares of the business services provider’s stock valued at $1,411,000 after buying an additional 345 shares during the period. MML Investors Services LLC grew its stake in shares of EVERTEC by 2.3% during the first quarter. MML Investors Services LLC now owns 19,041 shares of the business services provider’s stock valued at $643,000 after buying an additional 430 shares during the last quarter. Vident Investment Advisory LLC increased its holdings in shares of EVERTEC by 4.6% in the first quarter. Vident Investment Advisory LLC now owns 10,040 shares of the business services provider’s stock worth $411,000 after buying an additional 444 shares during the period. Finally, FMR LLC lifted its stake in shares of EVERTEC by 36.1% in the 1st quarter. FMR LLC now owns 1,838 shares of the business services provider’s stock valued at $62,000 after acquiring an additional 488 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on EVTC shares. StockNews.com downgraded EVERTEC from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Morgan Stanley upped their price target on shares of EVERTEC from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.33.

Insider Buying and Selling

In other EVERTEC news, Director Frank G. D’angelo sold 16,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $37.43, for a total value of $598,880.00. Following the transaction, the director now directly owns 10,380 shares of the company’s stock, valued at $388,523.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other EVERTEC news, CEO Morgan M. Schuessler sold 100,000 shares of EVERTEC stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the transaction, the chief executive officer now owns 347,941 shares of the company’s stock, valued at $12,939,925.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank G. D’angelo sold 16,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $37.43, for a total transaction of $598,880.00. Following the completion of the transaction, the director now directly owns 10,380 shares of the company’s stock, valued at approximately $388,523.40. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.

EVERTEC Stock Performance

Shares of EVTC opened at $37.17 on Friday. The company has a 50-day simple moving average of $38.85 and a two-hundred day simple moving average of $38.15. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $2.39 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 2.17 and a beta of 1.20. EVERTEC, Inc. has a one year low of $31.55 and a one year high of $42.21.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings data on Wednesday, February 28th. The business services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.06). EVERTEC had a net margin of 11.48% and a return on equity of 29.73%. The firm had revenue of $194.62 million for the quarter, compared to analysts’ expectations of $179.86 million. On average, analysts anticipate that EVERTEC, Inc. will post 2.33 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. EVERTEC’s dividend payout ratio (DPR) is currently 16.53%.

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.