Daniel Brignardello Sells 7,641 Shares of EVERTEC, Inc. (NYSE:EVTC) Stock

EVERTEC, Inc. (NYSE:EVTC) EVP Daniel Brignardello sold 7,641 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $36.60, for a total transaction of $279,660.60. Following the completion of the sale, the executive vice president now owns 31,277 shares in the company, valued at $1,144,738.20. This represents a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

EVERTEC Trading Up 1.7%

Shares of EVTC stock opened at $37.27 on Friday. The firm’s 50-day simple moving average is $34.99 and its 200-day simple moving average is $34.53. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. EVERTEC, Inc. has a 1-year low of $28.76 and a 1-year high of $38.32. The firm has a market cap of $2.39 billion, a P/E ratio of 29.12, a PEG ratio of 1.43 and a beta of 1.02.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The company had revenue of $228.79 million for the quarter, compared to the consensus estimate of $217.97 million. During the same quarter last year, the firm posted $0.72 earnings per share. EVERTEC’s revenue was up 11.4% on a year-over-year basis. As a group, equities analysts forecast that EVERTEC, Inc. will post 2.63 EPS for the current year.

EVERTEC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Tuesday, May 13th. EVERTEC’s payout ratio is 10.05%.

Institutional Investors Weigh In On EVERTEC

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC grew its position in shares of EVERTEC by 4,525.0% in the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock worth $26,000 after acquiring an additional 724 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of EVERTEC by 199.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 794 shares during the period. Fifth Third Bancorp grew its position in EVERTEC by 52.1% in the 4th quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock worth $41,000 after purchasing an additional 402 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in EVERTEC during the 4th quarter valued at $54,000. Finally, Blue Trust Inc. boosted its holdings in shares of EVERTEC by 39.2% in the first quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 429 shares in the last quarter. Institutional investors own 96.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of EVERTEC from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Susquehanna upgraded EVERTEC from a “negative” rating to a “neutral” rating and increased their target price for the company from $28.00 to $30.00 in a report on Thursday, February 27th. William Blair reissued an “outperform” rating on shares of EVERTEC in a research report on Thursday, February 27th. Finally, Raymond James upped their price objective on EVERTEC from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.75.

About EVERTEC

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.