State of New Jersey Common Pension Fund D Raises Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

State of New Jersey Common Pension Fund D increased its position in EVERTEC, Inc. (NYSE:EVTC) by 10.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,283 shares of the business services provider’s stock after buying an additional 6,351 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.11% of EVERTEC worth $2,836,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in EVTC. Meritage Portfolio Management increased its position in EVERTEC by 5.5% during the 4th quarter. Meritage Portfolio Management now owns 14,245 shares of the business services provider’s stock valued at $583,000 after purchasing an additional 744 shares during the period. Louisiana State Employees Retirement System purchased a new position in EVERTEC during the 4th quarter valued at $1,347,000. Envestnet Asset Management Inc. increased its position in EVERTEC by 73.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 409,002 shares of the business services provider’s stock valued at $15,207,000 after purchasing an additional 172,692 shares during the period. Pathstone Family Office LLC increased its position in EVERTEC by 5.8% during the 3rd quarter. Pathstone Family Office LLC now owns 319,935 shares of the business services provider’s stock valued at $11,895,000 after purchasing an additional 17,467 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its position in EVERTEC by 50.9% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 92,800 shares of the business services provider’s stock valued at $3,450,000 after purchasing an additional 31,300 shares during the period. 96.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EVTC. Morgan Stanley upped their target price on shares of EVERTEC from $32.00 to $33.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 27th. StockNews.com downgraded shares of EVERTEC from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.33.

EVERTEC Stock Performance

Shares of EVERTEC stock opened at $38.35 on Tuesday. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 2.26 and a beta of 1.20. The firm’s 50-day moving average is $38.42 and its 200 day moving average is $38.21. EVERTEC, Inc. has a 1 year low of $31.56 and a 1 year high of $42.21. 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 (NYSE:EVTC) last posted its quarterly earnings results 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 29.73% and a net margin of 11.48%. The business had revenue of $194.62 million during the quarter, compared to analysts’ expectations of $179.86 million. Sell-side analysts anticipate that EVERTEC, Inc. will post 2.33 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Monday, April 29th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, April 26th. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. EVERTEC’s dividend payout ratio (DPR) is presently 16.53%.

Insider Activity at EVERTEC

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