Paragon Private Wealth Management LLC Sells 975 Shares of EVERTEC, Inc. (NYSE:EVTC)

Paragon Private Wealth Management LLC cut its holdings in EVERTEC, Inc. (NYSE:EVTC) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,355 shares of the business services provider’s stock after selling 975 shares during the period. Paragon Private Wealth Management LLC’s holdings in EVERTEC were worth $288,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in EVTC. Public Employees Retirement System of Ohio bought a new stake in EVERTEC in the third quarter worth $28,000. Fifth Third Bancorp raised its stake in shares of EVERTEC by 52.1% during the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 402 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of EVERTEC by 199.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 794 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of EVERTEC during the third quarter valued at about $55,000. Finally, Blue Trust Inc. raised its stake in shares of EVERTEC by 55.2% during the fourth quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider’s stock valued at $73,000 after acquiring an additional 764 shares during the last quarter. 96.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Susquehanna raised shares of EVERTEC from a “negative” rating to a “neutral” rating and upped their price objective for the company from $28.00 to $30.00 in a research note on Thursday, February 27th. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th. Finally, Morgan Stanley raised shares of EVERTEC from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $33.00 to $35.00 in a research note on Thursday, November 21st.

EVERTEC Price Performance

EVTC stock opened at $36.97 on Tuesday. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $40.67. The company has a market cap of $2.35 billion, a P/E ratio of 28.88, a PEG ratio of 1.43 and a beta of 1.11. The firm has a 50-day moving average of $33.74 and a 200 day moving average of $33.93. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97.

EVERTEC Announces Dividend

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

Insider Buying and Selling

In other EVERTEC news, CAO Karla Cruz sold 2,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $36.77, for a total value of $73,540.00. Following the sale, the chief accounting officer now owns 18,065 shares in the company, valued at approximately $664,250.05. This represents a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paola Perez-Surillo sold 14,585 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $37.15, for a total transaction of $541,832.75. Following the completion of the sale, the executive vice president now owns 35,203 shares in the company, valued at approximately $1,307,791.45. This trade represents a 29.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 207,183 shares of company stock valued at $7,702,821 over the last three months. Corporate insiders own 0.83% of the company’s stock.

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.