New York State Common Retirement Fund Reduces Stock Position in EVERTEC, Inc. (NYSE:EVTC)

New York State Common Retirement Fund cut its position in EVERTEC, Inc. (NYSE:EVTC) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,899 shares of the business services provider’s stock after selling 1,467 shares during the period. New York State Common Retirement Fund owned approximately 0.07% of EVERTEC worth $1,797,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its holdings in EVERTEC by 3,946.0% in the third quarter. FMR LLC now owns 889,431 shares of the business services provider’s stock valued at $33,069,000 after purchasing an additional 867,448 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in EVERTEC by 16.2% during the third quarter. Loomis Sayles & Co. L P now owns 1,452,050 shares of the business services provider’s stock worth $53,987,000 after acquiring an additional 202,757 shares during the period. Envestnet Asset Management Inc. raised its position in EVERTEC by 73.1% during the third quarter. Envestnet Asset Management Inc. now owns 409,002 shares of the business services provider’s stock valued at $15,207,000 after acquiring an additional 172,692 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in EVERTEC by 159.4% in the third quarter. Qube Research & Technologies Ltd now owns 70,556 shares of the business services provider’s stock valued at $2,623,000 after acquiring an additional 43,360 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new stake in EVERTEC in the 3rd quarter worth approximately $1,398,000. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

EVERTEC Trading Up 0.6 %

Shares of EVTC stock opened at $37.38 on Thursday. EVERTEC, Inc. has a 1-year low of $31.56 and a 1-year high of $42.21. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 37.76, a PEG ratio of 2.13 and a beta of 1.19. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a 50 day simple moving average of $37.85 and a 200-day simple moving average of $38.24.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings data on Wednesday, February 28th. The business services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). EVERTEC had a return on equity of 29.86% and a net margin of 8.87%. The company had revenue of $194.62 million for the quarter, compared to analyst estimates of $179.86 million. On average, equities research analysts expect that EVERTEC, Inc. will post 2.33 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders 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 0.54%. EVERTEC’s dividend payout ratio (DPR) is currently 20.20%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, CEO Morgan M. Schuessler sold 100,000 shares of EVERTEC stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.19, for a total value of $3,719,000.00. Following the sale, the chief executive officer now directly owns 347,941 shares of the company’s stock, valued at $12,939,925.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Morgan M. Schuessler sold 100,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.19, for a total value of $3,719,000.00. Following the transaction, the chief executive officer now directly owns 347,941 shares of the company’s stock, valued at $12,939,925.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank G. D’angelo sold 16,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $37.43, for a total transaction of $598,880.00. Following the transaction, the director now owns 10,380 shares in the company, valued at $388,523.40. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

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.