EVERTEC, Inc. (NYSE:EVTC) Stake Trimmed by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in EVERTEC, Inc. (NYSE:EVTC) by 0.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,384,371 shares of the business services provider’s stock after selling 16,199 shares during the quarter. Vanguard Group Inc. owned approximately 11.43% of EVERTEC worth $274,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of EVTC. Ronald Blue Trust Inc. increased its stake in EVERTEC by 314.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,000 shares of the business services provider’s stock worth $37,000 after purchasing an additional 759 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in EVERTEC by 274.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,132 shares of the business services provider’s stock worth $38,000 after purchasing an additional 830 shares in the last quarter. Federated Hermes Inc. purchased a new position in EVERTEC during the 3rd quarter valued at about $49,000. FMR LLC grew its stake in EVERTEC by 36.1% during the 1st quarter. FMR LLC now owns 1,838 shares of the business services provider’s stock valued at $62,000 after acquiring an additional 488 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new position in EVERTEC during the 1st quarter valued at about $154,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.

EVERTEC Stock Up 0.7 %

Shares of EVERTEC stock opened at $39.91 on Friday. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 2.26 and a beta of 1.19. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.88 and a quick ratio of 1.88. EVERTEC, Inc. has a 52-week low of $31.55 and a 52-week high of $42.21. The stock has a 50-day simple moving average of $39.52 and a 200-day simple moving average of $38.07.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). The firm had revenue of $194.62 million for the quarter, compared to analyst estimates of $179.86 million. EVERTEC had a net margin of 11.48% and a return on equity of 29.73%. On average, equities research analysts expect that EVERTEC, Inc. will post 2.33 earnings per share for the current fiscal year.

EVERTEC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were issued a $0.05 dividend. The ex-dividend date was Monday, February 26th. This represents a $0.20 annualized dividend and a yield of 0.50%. EVERTEC’s dividend payout ratio (DPR) is currently 16.53%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EVTC. StockNews.com cut EVERTEC from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Morgan Stanley lifted their target price on EVERTEC from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Tuesday, February 27th. Finally, Susquehanna lifted their target price on EVERTEC from $36.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $41.33.

Insider Buying and Selling

In related news, Director Frank G. D’angelo sold 16,000 shares of the business’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 completion of the sale, the director now directly owns 10,380 shares in the company, valued at approximately $388,523.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Frank G. D’angelo sold 16,000 shares of the business’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 completion of the sale, the director now directly owns 10,380 shares in the company, valued at approximately $388,523.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Morgan M. Schuessler sold 100,000 shares of the business’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 disclosure for this sale can be found here. Corporate insiders own 0.64% 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.