EVERTEC, Inc. (NYSE:EVTC) CEO Sells $2,996,000.00 in Stock

EVERTEC, Inc. (NYSE:EVTC) CEO Morgan M. Schuessler sold 80,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $37.45, for a total transaction of $2,996,000.00. Following the completion of the sale, the chief executive officer now directly owns 282,172 shares of the company’s stock, valued at $10,567,341.40. The trade was a 22.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

EVERTEC Trading Down 0.6 %

Shares of EVTC stock opened at $37.24 on Monday. 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 firm has a market cap of $2.37 billion, a P/E ratio of 29.09, a PEG ratio of 1.43 and a beta of 1.11. The company has a 50 day moving average of $33.74 and a 200-day moving average of $33.93. EVERTEC, Inc. has a 12-month low of $28.76 and a 12-month high of $40.67.

EVERTEC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 3rd will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. EVERTEC’s payout ratio is presently 11.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on EVTC shares. Susquehanna upgraded EVERTEC from a “negative” rating to a “neutral” rating and boosted their target price for the stock from $28.00 to $30.00 in a research note on Thursday, February 27th. William Blair restated an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th. Finally, Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $33.00 to $35.00 in a research report on Thursday, November 21st.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EVTC. FMR LLC raised its stake in EVERTEC by 36.6% in the 3rd quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock valued at $308,882,000 after acquiring an additional 2,440,680 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of EVERTEC in the fourth quarter worth about $17,416,000. Norges Bank bought a new stake in shares of EVERTEC in the fourth quarter valued at approximately $6,568,000. Ameriprise Financial Inc. raised its position in shares of EVERTEC by 41.6% in the fourth quarter. Ameriprise Financial Inc. now owns 568,797 shares of the business services provider’s stock valued at $19,641,000 after purchasing an additional 166,997 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of EVERTEC during the 4th quarter valued at approximately $5,356,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.

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.