Insider Selling: EVERTEC, Inc. (NYSE:EVTC) EVP Sells 8,123 Shares of Stock

EVERTEC, Inc. (NYSE:EVTC) EVP Miguel Vizcarrondo sold 8,123 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.09, for a total value of $276,913.07. Following the completion of the sale, the executive vice president now directly owns 113,915 shares of the company’s stock, valued at $3,883,362.35. The trade was a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Miguel Vizcarrondo also recently made the following trade(s):

• On Wednesday, December 18th, Miguel Vizcarrondo sold 7,890 shares of EVERTEC stock. The stock was sold at an average price of $35.07, for a total transaction of $276,702.30.

EVERTEC Stock Up 2.8 %

EVTC opened at $34.51 on Thursday. EVERTEC, Inc. has a twelve month low of $28.76 and a twelve month high of $42.21. The company’s 50-day moving average price is $34.50 and its two-hundred day moving average price is $33.75. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 1.63 and a beta of 1.16. 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 announced 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. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The business had revenue of $211.80 million during the quarter, compared to analyst estimates of $211.51 million. During the same period in the prior year, the company earned $0.72 earnings per share. EVERTEC’s revenue was up 22.3% compared to the same quarter last year. As a group, equities analysts expect that EVERTEC, Inc. will post 2.55 earnings per share for the current year.

EVERTEC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, October 28th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Monday, October 28th. EVERTEC’s dividend payout ratio is currently 15.63%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley upgraded shares of EVERTEC from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $33.00 to $35.00 in a report on Thursday, November 21st. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a report on Wednesday, December 18th. Finally, Susquehanna lowered EVERTEC from a “neutral” rating to a “negative” rating and dropped their price target for the stock from $38.00 to $28.00 in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.00.

Hedge Funds Weigh In On EVERTEC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. World Investment Advisors LLC purchased a new stake in shares of EVERTEC during the 3rd quarter valued at approximately $594,000. Barclays PLC lifted its position in shares of EVERTEC by 385.6% during the third quarter. Barclays PLC now owns 115,398 shares of the business services provider’s stock worth $3,910,000 after acquiring an additional 91,632 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of EVERTEC in the third quarter worth $28,000. Main Management ETF Advisors LLC purchased a new position in shares of EVERTEC in the third quarter valued at $842,000. Finally, XTX Topco Ltd raised its stake in shares of EVERTEC by 13.2% during the 3rd quarter. XTX Topco Ltd now owns 11,515 shares of the business services provider’s stock valued at $390,000 after purchasing an additional 1,343 shares during the period. Institutional investors own 96.80% 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.