EVERTEC, Inc. (NYSE:EVTC) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its position in EVERTEC, Inc. (NYSE:EVTC) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,358 shares of the business services provider’s stock after selling 1,235 shares during the period. Illinois Municipal Retirement Fund’s holdings in EVERTEC were worth $1,488,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of EVTC. Federated Hermes Inc. acquired a new position in shares of EVERTEC in the third quarter valued at approximately $49,000. AlphaQ Advisors LLC purchased a new stake in EVERTEC in the 4th quarter worth approximately $231,000. First Trust Direct Indexing L.P. purchased a new stake in EVERTEC in the 3rd quarter worth approximately $215,000. Hennion & Walsh Asset Management Inc. acquired a new position in EVERTEC in the 3rd quarter valued at $223,000. Finally, Jump Financial LLC acquired a new stake in shares of EVERTEC during the third quarter worth $244,000. 96.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

EVERTEC Stock Up 0.4 %

Shares of NYSE EVTC opened at $38.44 on Friday. The stock has a market capitalization of $2.48 billion, a PE ratio of 31.77, a P/E/G ratio of 2.25 and a beta of 1.20. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.58. The firm has a fifty day moving average of $38.55 and a 200-day moving average of $38.18. EVERTEC, Inc. has a 52-week low of $31.56 and a 52-week high of $42.21.

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

EVERTEC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, April 29th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Friday, April 26th. EVERTEC’s payout ratio is currently 16.53%.

Insider Buying and Selling

In other EVERTEC news, Director Frank G. D’angelo sold 16,000 shares of EVERTEC stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $37.43, for a total transaction of $598,880.00. Following the transaction, the director now directly owns 10,380 shares of the company’s stock, valued at $388,523.40. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Frank G. D’angelo sold 16,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $37.43, for a total transaction of $598,880.00. Following the completion of the sale, the director now directly owns 10,380 shares of the company’s stock, valued at approximately $388,523.40. The sale 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 stock in a transaction on Thursday, March 7th. The shares were 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.

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.