Insider Selling: Evertec (NYSE:EVTC) CEO Sells $5,041,650.00 in Stock

Evertec, Inc. (NYSE:EVTC) CEO Morgan Schuessler sold 145,000 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $34.77, for a total value of $5,041,650.00. Following the sale, the chief executive officer owned 305,054 shares in the company, valued at $10,606,727.58. The trade was a 32.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Evertec Trading Down 1.9%

EVTC traded down $0.66 during trading on Thursday, reaching $34.07. The company had a trading volume of 795,198 shares, compared to its average volume of 502,413. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.89. The business has a 50 day simple moving average of $29.77 and a 200-day simple moving average of $28.44. The stock has a market cap of $2.04 billion, a P/E ratio of 22.41, a PEG ratio of 0.89 and a beta of 0.71. Evertec, Inc. has a 52 week low of $21.81 and a 52 week high of $35.28.

Evertec (NYSE:EVTC) last posted its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.09. The business had revenue of $282.99 million for the quarter, compared to analysts’ expectations of $272.94 million. Evertec had a net margin of 9.00% and a return on equity of 32.87%. The business’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 earnings per share. On average, equities analysts anticipate that Evertec, Inc. will post 3.53 EPS for the current fiscal year.

Evertec Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Monday, November 9th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, November 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. Evertec’s dividend payout ratio is currently 13.16%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Morgan Stanley set a $34.00 price objective on Evertec in a research report on Thursday, August 6th. Wall Street Zen upgraded Evertec from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Keefe, Bruyette & Woods lifted their target price on Evertec from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Weiss Ratings raised shares of Evertec from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, October 21st. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.50.

Hedge Funds Weigh In On Evertec

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Evertec in the 2nd quarter valued at about $254,513,000. Heartland Advisors Inc. bought a new position in shares of Evertec during the second quarter valued at approximately $23,346,000. North Star Asset Management Inc. bought a new position in shares of Evertec during the second quarter valued at approximately $22,489,000. Bank of New York Mellon Corp bought a new position in shares of Evertec during the second quarter valued at approximately $12,700,000. Finally, Bank of America Corp DE purchased a new position in Evertec during the second quarter valued at approximately $7,835,000. 96.80% of the stock is owned by hedge funds and other institutional investors.

About Evertec

Evertec, Inc is a payment processing and financial technology company that provides transaction-processing services and business technology solutions to financial institutions, merchants, government agencies and other organizations. The company operates through businesses that support electronic payments, merchant acquiring, payment networks and related financial services.

Its products and services include debit and credit card processing, point-of-sale and e-commerce payment acceptance, automated teller machine processing, prepaid services, electronic bill payment and money transfer solutions.