State Street Corp Lowers Stock Holdings in Evertec Inc (NYSE:EVTC)

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State Street Corp trimmed its stake in Evertec Inc (NYSE:EVTC) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,845,407 shares of the business services provider’s stock after selling 72,562 shares during the period. State Street Corp owned about 2.57% of Evertec worth $57,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Voya Investment Management LLC raised its holdings in shares of Evertec by 694.8% in the 3rd quarter. Voya Investment Management LLC now owns 468,230 shares of the business services provider’s stock valued at $14,618,000 after purchasing an additional 409,316 shares in the last quarter. Eqis Capital Management Inc. raised its holdings in shares of Evertec by 16.9% in the 3rd quarter. Eqis Capital Management Inc. now owns 20,671 shares of the business services provider’s stock valued at $645,000 after purchasing an additional 2,995 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in shares of Evertec by 14.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 336,926 shares of the business services provider’s stock valued at $10,518,000 after purchasing an additional 42,740 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Evertec by 87.1% in the 3rd quarter. SG Americas Securities LLC now owns 7,733 shares of the business services provider’s stock valued at $241,000 after purchasing an additional 3,601 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Evertec by 8.0% in the 3rd quarter. First Trust Advisors LP now owns 92,380 shares of the business services provider’s stock valued at $2,884,000 after purchasing an additional 6,852 shares in the last quarter. 78.71% of the stock is owned by institutional investors.

NYSE:EVTC opened at $31.21 on Friday. Evertec Inc has a one year low of $25.13 and a one year high of $37.38. The company has a debt-to-equity ratio of 2.17, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a market cap of $2.22 billion, a P/E ratio of 18.36 and a beta of 0.76. The firm has a 50-day simple moving average of $31.44 and a 200-day simple moving average of $32.09.

Evertec (NYSE:EVTC) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Evertec had a net margin of 20.62% and a return on equity of 58.35%. The business had revenue of $118.80 million during the quarter, compared to analyst estimates of $116.49 million. On average, research analysts predict that Evertec Inc will post 1.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 4th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. Evertec’s dividend payout ratio is currently 11.76%.

Several equities research analysts have recently commented on the stock. ValuEngine lowered shares of Evertec from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Zacks Investment Research lowered shares of Evertec from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th.

In related news, EVP Luis A. Rodriguez-Gonzalez sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $32.06, for a total transaction of $416,780.00. Following the completion of the transaction, the executive vice president now owns 56,445 shares in the company, valued at approximately $1,809,626.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Morgan M. Schuessler sold 28,948 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $31.28, for a total transaction of $905,493.44. Following the transaction, the chief executive officer now owns 369,532 shares of the company’s stock, valued at approximately $11,558,960.96. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

Evertec Profile

EVERTEC, Inc engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates in four segments: Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; and Business Solutions.

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Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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