LSV Asset Management Sells 24,417 Shares of EVERTEC, Inc. (NYSE:EVTC)

LSV Asset Management lowered its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 6.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 331,000 shares of the business services provider’s stock after selling 24,417 shares during the period. LSV Asset Management owned about 0.51% of EVERTEC worth $13,551,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of EVTC. Benjamin F. Edwards & Company Inc. acquired a new position in shares of EVERTEC during the fourth quarter worth $31,000. Federated Hermes Inc. acquired a new position in EVERTEC in the 3rd quarter worth about $49,000. AlphaQ Advisors LLC bought a new position in EVERTEC in the fourth quarter valued at about $231,000. First Trust Direct Indexing L.P. bought a new stake in shares of EVERTEC during the third quarter worth about $215,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in EVERTEC in the 3rd quarter valued at approximately $223,000. 96.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on EVTC shares. StockNews.com cut shares of EVERTEC from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Morgan Stanley raised their price objective on EVERTEC from $32.00 to $33.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.33.

EVERTEC Price Performance

Shares of NYSE EVTC opened at $37.16 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $2.39 billion, a PE ratio of 37.54, a P/E/G ratio of 2.13 and a beta of 1.19. The firm has a fifty day simple moving average of $37.91 and a 200 day simple moving average of $38.24. EVERTEC, Inc. has a twelve month low of $31.56 and a twelve month high of $42.21.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings data on Wednesday, February 28th. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). EVERTEC had a return on equity of 29.86% and a net margin of 8.87%. The business had revenue of $194.62 million during the quarter, compared to the consensus estimate of $179.86 million. On average, sell-side analysts forecast that EVERTEC, Inc. will post 2.33 EPS for the current year.

EVERTEC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, April 29th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, April 26th. EVERTEC’s dividend payout ratio (DPR) is 20.20%.

Insider Activity

In other news, CEO Morgan M. Schuessler sold 100,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the transaction, the chief executive officer now owns 347,941 shares in the company, valued at $12,939,925.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other EVERTEC news, CEO Morgan M. Schuessler sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.19, for a total value of $3,719,000.00. Following the completion of the sale, the chief executive officer now owns 347,941 shares of the company’s stock, valued at $12,939,925.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank G. D’angelo sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $37.43, for a total value of $598,880.00. Following the transaction, the director now directly owns 10,380 shares in the company, valued at $388,523.40. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by company 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.