EVERTEC, Inc. (NYSE:EVTC) EVP Sells $276,913.07 in Stock

EVERTEC, Inc. (NYSE:EVTC) EVP Miguel Vizcarrondo sold 8,123 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.09, for a total transaction of $276,913.07. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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 value of $276,702.30.

EVERTEC Price Performance

Shares of EVTC opened at $34.51 on Thursday. The firm has a market cap of $2.20 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $42.21. The business’s 50 day moving average price is $34.50 and its two-hundred day moving average price is $33.75. 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 (NYSE:EVTC) last released its earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The company had revenue of $211.80 million for the quarter, compared to the consensus estimate of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. EVERTEC’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. On average, equities analysts anticipate that EVERTEC, Inc. will post 2.55 EPS for the current year.

EVERTEC Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EVTC. Public Employees Retirement System of Ohio bought a new stake in shares of EVERTEC during the third quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in EVERTEC during the third quarter worth $55,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of EVERTEC by 866.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock valued at $81,000 after buying an additional 2,175 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of EVERTEC by 90.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock valued at $104,000 after buying an additional 1,490 shares during the last quarter. Finally, nVerses Capital LLC increased its position in shares of EVERTEC by 68.4% during the second quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock worth $106,000 after acquiring an additional 1,300 shares in the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EVTC has been the subject of several recent research reports. William Blair reissued an “outperform” rating on shares of EVERTEC in a research note on Wednesday, December 18th. Susquehanna downgraded shares of 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 research report on Thursday, September 5th. 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, EVERTEC has an average rating of “Hold” and an average target price of $35.00.

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.