EVERTEC, Inc. (NYSE:EVTC) EVP Sells $1,457,600.00 in Stock

EVERTEC, Inc. (NYSE:EVTC) EVP Miguel Vizcarrondo sold 40,000 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $36.44, for a total transaction of $1,457,600.00. Following the completion of the transaction, the executive vice president now owns 92,509 shares in the company, valued at $3,371,027.96. This represents a 30.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

EVERTEC Price Performance

NYSE:EVTC opened at $36.90 on Thursday. The stock has a 50 day moving average price of $34.98 and a 200 day moving average price of $34.49. The stock has a market cap of $2.36 billion, a PE ratio of 28.83, a P/E/G ratio of 1.43 and a beta of 1.02. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $38.32.

EVERTEC (NYSE:EVTC) last released 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 return on equity of 33.01% and a net margin of 10.20%. The business 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 business posted $0.72 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. Equities research analysts expect that EVERTEC, Inc. will post 2.63 EPS for the current fiscal year.

EVERTEC Dividend Announcement

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in shares of EVERTEC by 100.0% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 40,000 shares of the business services provider’s stock valued at $1,381,000 after purchasing an additional 20,000 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in EVERTEC by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider’s stock valued at $11,447,000 after purchasing an additional 33,462 shares in the last quarter. KBC Group NV lifted its stake in EVERTEC by 34.8% in the fourth quarter. KBC Group NV now owns 3,188 shares of the business services provider’s stock valued at $110,000 after buying an additional 823 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of EVERTEC by 43.4% in the fourth quarter. New York State Common Retirement Fund now owns 129,235 shares of the business services provider’s stock valued at $4,462,000 after acquiring an additional 39,139 shares during the period. Finally, Amundi boosted its holdings in shares of EVERTEC by 83.0% in the fourth quarter. Amundi now owns 43,416 shares of the business services provider’s stock valued at $1,459,000 after acquiring an additional 19,693 shares during the period. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

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.