EVERTEC, Inc. (NYSE:EVTC) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its holdings in EVERTEC, Inc. (NYSE:EVTC) by 3.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 36,358 shares of the business services provider’s stock after selling 1,235 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of EVERTEC worth $1,488,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Federated Hermes Inc. acquired a new stake in shares of EVERTEC during the 3rd quarter worth about $49,000. First Trust Direct Indexing L.P. acquired a new stake in shares of EVERTEC during the third quarter valued at about $215,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of EVERTEC during the third quarter valued at about $223,000. AlphaQ Advisors LLC purchased a new stake in shares of EVERTEC in the 4th quarter valued at approximately $231,000. Finally, Jump Financial LLC acquired a new position in shares of EVERTEC in the 3rd quarter worth approximately $244,000. Institutional investors and hedge funds own 96.80% of the company’s stock.

Analysts Set New Price Targets

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

EVERTEC Trading Up 0.4 %

Shares of EVTC stock opened at $38.44 on Friday. EVERTEC, Inc. has a fifty-two week low of $31.56 and a fifty-two week high of $42.21. The company has a 50 day moving average price of $38.55 and a 200 day moving average price of $38.18. The stock has a market capitalization of $2.48 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 2.25 and a beta of 1.20. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.88 and a current ratio of 1.88.

EVERTEC (NYSE:EVTC) last issued its quarterly earnings results 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). The business had revenue of $194.62 million during the quarter, compared to analysts’ expectations of $179.86 million. EVERTEC had a net margin of 11.48% and a return on equity of 29.73%. Equities research analysts predict that EVERTEC, Inc. will post 2.33 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Monday, April 29th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, April 26th. This represents a $0.20 annualized dividend and a yield of 0.52%. EVERTEC’s payout ratio is 16.53%.

Insiders Place Their Bets

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

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.