Insider Selling: EVERTEC, Inc. (NYSE:EVTC) EVP Sells 7,890 Shares of Stock

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

EVERTEC Price Performance

Shares of EVTC opened at $33.61 on Friday. EVERTEC, Inc. has a 12 month low of $28.76 and a 12 month high of $42.21. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a fifty day moving average price of $34.47 and a 200 day moving average price of $33.74. The company has a market cap of $2.14 billion, a P/E ratio of 26.26, a PEG ratio of 1.63 and a beta of 1.16.

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

EVERTEC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, October 28th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.20 annualized dividend and a dividend yield of 0.60%. EVERTEC’s dividend payout ratio is presently 15.63%.

Analysts Set New Price Targets

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

Institutional Trading of EVERTEC

Several large investors have recently added to or reduced their stakes in EVTC. FMR LLC grew its stake in shares of EVERTEC by 36.6% in the third quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock worth $308,882,000 after purchasing an additional 2,440,680 shares in the last quarter. American Century Companies Inc. grew its position in EVERTEC by 5.0% in the 2nd quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock valued at $145,318,000 after buying an additional 208,183 shares in the last quarter. State Street Corp increased its stake in EVERTEC by 1.4% during the 3rd quarter. State Street Corp now owns 2,494,349 shares of the business services provider’s stock valued at $84,533,000 after buying an additional 34,410 shares during the period. Victory Capital Management Inc. raised its position in shares of 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 worth $76,421,000 after buying an additional 189,637 shares in the last quarter. Finally, River Road Asset Management LLC lifted its stake in shares of 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 acquiring an additional 5,899 shares during the period. 96.80% of the stock is currently owned by institutional investors and hedge funds.

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.