Main Management ETF Advisors LLC Takes $842,000 Position in EVERTEC, Inc. (NYSE:EVTC)

Main Management ETF Advisors LLC acquired a new stake in shares of EVERTEC, Inc. (NYSE:EVTC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 24,832 shares of the business services provider’s stock, valued at approximately $842,000.

Several other institutional investors also recently made changes to their positions in EVTC. Opal Wealth Advisors LLC purchased a new stake in EVERTEC during the 2nd quarter worth $28,000. Louisiana State Employees Retirement System lifted its holdings in EVERTEC by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider’s stock worth $1,077,000 after buying an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in EVERTEC by 21.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,468 shares of the business services provider’s stock worth $548,000 after buying an additional 2,924 shares in the last quarter. F M Investments LLC acquired a new position in EVERTEC in the 2nd quarter worth $5,672,000. Finally, nVerses Capital LLC lifted its holdings in EVERTEC by 68.4% in the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock worth $106,000 after buying an additional 1,300 shares in the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

EVERTEC Stock Performance

Shares of EVERTEC stock opened at $35.43 on Friday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $42.21. The firm’s 50-day simple moving average is $34.20 and its 200-day simple moving average is $33.76. The firm has a market cap of $2.25 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.62 and a beta of 1.16.

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

EVERTEC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, October 28th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Monday, October 28th. EVERTEC’s dividend payout ratio is presently 15.63%.

Analysts Set New Price Targets

EVTC has been the topic of a number of recent analyst reports. Susquehanna lowered shares of EVERTEC from a “neutral” rating to a “negative” rating and cut their price objective for the stock from $38.00 to $28.00 in a report on Thursday, September 5th. Morgan Stanley upgraded shares of EVERTEC from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $33.00 to $35.00 in a research note on Thursday, November 21st.

Insiders Place Their Bets

In other news, EVP Daniel Brignardello sold 3,842 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $36.00, for a total value of $138,312.00. Following the completion of the transaction, the executive vice president now directly owns 32,481 shares in the company, valued at $1,169,316. This trade represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $36.08, for a total transaction of $1,748,184.24. Following the completion of the transaction, the chief financial officer now owns 54,998 shares of the company’s stock, valued at $1,984,327.84. This trade represents a 46.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is owned by insiders.

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.