Miguel Vizcarrondo Sells 7,890 Shares of EVERTEC, Inc. (NYSE:EVTC) Stock

EVERTEC, Inc. (NYSE:EVTC) EVP Miguel Vizcarrondo sold 7,890 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $35.07, for a total value of $276,702.30. Following the completion of the transaction, the executive vice president now owns 122,038 shares of the company’s stock, valued at $4,279,872.66. This represents a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

EVERTEC Stock Performance

Shares of EVERTEC stock traded up $0.01 during trading hours on Friday, reaching $33.61. 1,414,991 shares of the stock traded hands, compared to its average volume of 388,088. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $42.21. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 1.63 and a beta of 1.16. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. The company has a 50 day moving average price of $34.46 and a 200 day moving average price of $33.74.

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

EVERTEC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, October 28th were issued a $0.05 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. EVERTEC’s dividend payout ratio is currently 15.63%.

Institutional Trading of EVERTEC

Hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its stake in shares of EVERTEC by 36.6% during the 3rd quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock valued at $308,882,000 after buying an additional 2,440,680 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of EVERTEC by 5.0% in the second quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock worth $145,318,000 after acquiring an additional 208,183 shares during the period. State Street Corp grew its position in shares of EVERTEC by 1.4% during the third quarter. State Street Corp now owns 2,494,349 shares of the business services provider’s stock worth $84,533,000 after purchasing an additional 34,410 shares in the last quarter. Victory Capital Management Inc. raised its stake in EVERTEC by 9.0% during the 2nd quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider’s stock valued at $76,421,000 after purchasing an additional 189,637 shares during the period. Finally, River Road Asset Management LLC boosted its stake in EVERTEC by 0.3% in the 3rd quarter. River Road Asset Management LLC now owns 1,966,626 shares of the business services provider’s stock worth $66,649,000 after purchasing an additional 5,899 shares during the period. Institutional investors own 96.80% of the company’s stock.

Wall Street Analysts Forecast Growth

EVTC has been the topic of a number of recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a report on Wednesday. Susquehanna cut shares of EVERTEC from a “neutral” rating to a “negative” rating and dropped their target price for the stock from $38.00 to $28.00 in a report on Thursday, September 5th. Finally, Morgan Stanley raised shares of EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $33.00 to $35.00 in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, EVERTEC presently has an average rating of “Hold” and a consensus target price of $35.00.

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.