Insider Selling: EVERTEC, Inc. (NYSE:EVTC) CEO Sells 80,000 Shares of Stock

EVERTEC, Inc. (NYSE:EVTC) CEO Morgan M. Schuessler sold 80,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $37.45, for a total value of $2,996,000.00. Following the sale, the chief executive officer now owns 282,172 shares in the company, valued at approximately $10,567,341.40. This represents a 22.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

EVERTEC Stock Performance

NYSE EVTC opened at $37.24 on Monday. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $40.67. The company has a fifty day moving average of $33.74 and a 200-day moving average of $33.93. The company has a market capitalization of $2.37 billion, a P/E ratio of 29.09, a P/E/G ratio of 1.43 and a beta of 1.11. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 3rd 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 Monday, March 3rd. EVERTEC’s dividend payout ratio (DPR) is currently 11.56%.

Hedge Funds Weigh In On EVERTEC

A number of hedge funds and other institutional investors have recently modified their holdings of EVTC. Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in shares of EVERTEC by 100.0% during 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 buying an additional 20,000 shares in the last quarter. Zacks Investment Management bought a new position in EVERTEC during the third quarter valued at approximately $1,258,000. Algert Global LLC raised its stake in shares of EVERTEC by 1,285.8% during the third quarter. Algert Global LLC now owns 91,341 shares of the business services provider’s stock worth $3,096,000 after acquiring an additional 84,750 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of EVERTEC by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider’s stock worth $11,447,000 after acquiring an additional 33,462 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of EVERTEC by 34.8% in the 4th quarter. KBC Group NV now owns 3,188 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 823 shares in the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley raised shares of EVERTEC from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $33.00 to $35.00 in a report on Thursday, November 21st. Susquehanna upgraded shares of EVERTEC from a “negative” rating to a “neutral” rating and boosted their price target for the company from $28.00 to $30.00 in a research report on Thursday, February 27th. Finally, William Blair reiterated an “outperform” rating on shares of EVERTEC in a research report on Thursday, February 27th.

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.