Insider Selling: EVERTEC, Inc. (NYSE:EVTC) EVP Sells 3,842 Shares of Stock

EVERTEC, Inc. (NYSE:EVTC) EVP Daniel Brignardello sold 3,842 shares of EVERTEC stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $36.00, for a total value of $138,312.00. Following the completion of the sale, the executive vice president now owns 32,481 shares of the company’s stock, valued at approximately $1,169,316. The trade was a 10.58 % 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 Up 0.8 %

Shares of EVERTEC stock traded up $0.30 during trading hours on Wednesday, reaching $35.78. 176,686 shares of the company’s stock were exchanged, compared to its average volume of 390,135. The stock has a market cap of $2.28 billion, a P/E ratio of 27.95, a P/E/G ratio of 1.63 and a beta of 1.16. The company has a 50 day moving average of $34.08 and a two-hundred day moving average of $33.75. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $42.21.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The firm had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. During the same quarter last year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. On average, sell-side analysts forecast that EVERTEC, Inc. will post 2.55 EPS for the current fiscal year.

EVERTEC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, October 28th will be paid a $0.05 dividend. The ex-dividend date is Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. EVERTEC’s dividend payout ratio (DPR) is currently 15.63%.

Hedge Funds Weigh In On EVERTEC

Institutional investors and hedge funds have recently made changes to their positions in the company. Edgestream Partners L.P. acquired a new stake in shares of EVERTEC during the second quarter worth $8,143,000. Aptus Capital Advisors LLC raised its stake in EVERTEC by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 88,055 shares of the business services provider’s stock worth $2,928,000 after purchasing an additional 17,475 shares in the last quarter. Sei Investments Co. raised its stake in EVERTEC by 7.9% in the 2nd quarter. Sei Investments Co. now owns 480,616 shares of the business services provider’s stock worth $15,981,000 after purchasing an additional 35,118 shares in the last quarter. Algert Global LLC boosted its holdings in EVERTEC by 1,285.8% in the 3rd quarter. Algert Global LLC now owns 91,341 shares of the business services provider’s stock valued at $3,096,000 after purchasing an additional 84,750 shares during the period. Finally, Bridges Investment Management Inc. acquired a new position in shares of EVERTEC during the 2nd quarter worth approximately $280,000. Institutional investors and hedge funds own 96.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EVTC. Susquehanna lowered EVERTEC from a “neutral” rating to a “negative” rating and reduced their price target for the stock from $38.00 to $28.00 in a research report on Thursday, September 5th. Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $33.00 to $35.00 in a research report on Thursday, November 21st.

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.