EVERTEC, Inc. (NYSE:EVTC) Director Ivan Pagan Sells 6,852 Shares

EVERTEC, Inc. (NYSE:EVTC) Director Ivan Pagan sold 6,852 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $36.65, for a total transaction of $251,125.80. Following the completion of the transaction, the director now owns 12,473 shares of the company’s stock, valued at $457,135.45. The trade was a 35.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

EVERTEC Price Performance

EVTC stock opened at $36.34 on Thursday. The company has a 50 day simple moving average of $35.11 and a 200 day simple moving average of $34.77. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 28.39, a P/E/G ratio of 1.43 and a beta of 1.02. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $38.56. 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 (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The firm had revenue of $228.79 million during the quarter, compared to analysts’ expectations of $217.97 million. During the same period in the prior year, the company posted $0.72 EPS. The company’s revenue was up 11.4% on a year-over-year basis. Research analysts anticipate that EVERTEC, Inc. will post 2.63 EPS for the current fiscal year.

EVERTEC Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Tuesday, May 13th. EVERTEC’s dividend payout ratio (DPR) is currently 10.05%.

Hedge Funds Weigh In On EVERTEC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its position in EVERTEC by 184.6% in the 1st quarter. Jane Street Group LLC now owns 133,714 shares of the business services provider’s stock valued at $4,917,000 after acquiring an additional 86,733 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in EVERTEC by 1.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,721 shares of the business services provider’s stock valued at $3,189,000 after acquiring an additional 846 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in EVERTEC by 3.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,915 shares of the business services provider’s stock valued at $1,394,000 after acquiring an additional 1,222 shares during the period. Invenomic Capital Management LP boosted its stake in shares of EVERTEC by 5.3% in the 1st quarter. Invenomic Capital Management LP now owns 290,508 shares of the business services provider’s stock valued at $10,682,000 after purchasing an additional 14,529 shares during the last quarter. Finally, Clark Capital Management Group Inc. boosted its stake in shares of EVERTEC by 16.9% in the 1st quarter. Clark Capital Management Group Inc. now owns 230,083 shares of the business services provider’s stock valued at $8,460,000 after purchasing an additional 33,247 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. William Blair restated an “outperform” rating on shares of EVERTEC in a research report on Thursday, February 27th. Raymond James boosted their target price on shares of EVERTEC from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Keefe, Bruyette & Woods boosted their target price on shares of EVERTEC from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Finally, Susquehanna set a $39.00 target price on shares of EVERTEC and gave the company a “neutral” rating in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

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.