Avior Wealth Management LLC Lowers Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Avior Wealth Management LLC reduced its stake in EVERTEC, Inc. (NYSE:EVTC) by 7.6% during the fourth quarter, HoldingsChannel reports. The firm owned 25,239 shares of the business services provider’s stock after selling 2,073 shares during the period. Avior Wealth Management LLC’s holdings in EVERTEC were worth $872,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new stake in EVERTEC in the third quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of EVERTEC in the third quarter worth approximately $55,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of EVERTEC by 866.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock worth $81,000 after purchasing an additional 2,175 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of EVERTEC by 90.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock worth $104,000 after purchasing an additional 1,490 shares during the last quarter. Finally, nVerses Capital LLC grew its holdings in shares of EVERTEC by 12.5% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the business services provider’s stock worth $122,000 after purchasing an additional 400 shares during the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

EVERTEC Stock Performance

NYSE:EVTC opened at $32.33 on Friday. The stock has a market cap of $2.06 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. The firm’s fifty day simple moving average is $34.43 and its 200 day simple moving average is $33.78. EVERTEC, Inc. has a twelve month low of $28.76 and a twelve month high of $42.21. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84.

EVERTEC (NYSE:EVTC) last released its quarterly earnings results 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 business had revenue of $211.80 million for 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%. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. As a group, research analysts predict that EVERTEC, Inc. will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EVTC shares. William Blair restated an “outperform” rating on shares of EVERTEC in a report on Wednesday, December 18th. Morgan Stanley upgraded shares of EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $33.00 to $35.00 in a report on Thursday, November 21st. One investment 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’s stock. Based on data from MarketBeat.com, EVERTEC currently has an average rating of “Hold” and an average price target of $35.00.

Insider Buying and Selling at EVERTEC

In other EVERTEC news, EVP Miguel Vizcarrondo sold 8,123 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.09, for a total transaction of $276,913.07. Following the completion of the transaction, the executive vice president now owns 113,915 shares of the company’s stock, valued at approximately $3,883,362.35. This trade represents a 6.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $36.08, for a total value of $1,748,184.24. Following the transaction, the chief financial officer now directly owns 54,998 shares of the company’s stock, valued at $1,984,327.84. This represents a 46.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,308 shares of company stock valued at $2,440,112. 0.83% of the stock is currently owned by company insiders.

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.