Strs Ohio Has $49,000 Position in EVERTEC, Inc. (NYSE:EVTC)

Strs Ohio trimmed its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 89.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,200 shares of the business services provider’s stock after selling 10,400 shares during the quarter. Strs Ohio’s holdings in EVERTEC were worth $49,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of EVERTEC in the 3rd quarter valued at about $1,159,000. Redwood Investments LLC lifted its position in shares of EVERTEC by 68.9% in the 3rd quarter. Redwood Investments LLC now owns 416,639 shares of the business services provider’s stock worth $15,491,000 after purchasing an additional 169,980 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of EVERTEC by 20.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,219 shares of the business services provider’s stock valued at $491,000 after purchasing an additional 2,210 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of EVERTEC by 8.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,023 shares of the business services provider’s stock worth $1,116,000 after buying an additional 2,377 shares during the period. Finally, Assetmark Inc. raised its stake in EVERTEC by 17.4% during the third quarter. Assetmark Inc. now owns 26,688 shares of the business services provider’s stock worth $992,000 after buying an additional 3,965 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at EVERTEC

In related news, Director Frank G. D’angelo sold 16,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $37.43, for a total value of $598,880.00. Following the sale, the director now owns 10,380 shares in the company, valued at approximately $388,523.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Morgan M. Schuessler sold 100,000 shares of the company’s 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 in the company, valued at approximately $12,939,925.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank G. D’angelo sold 16,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $388,523.40. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

EVERTEC Price Performance

EVTC stock opened at $37.62 on Thursday. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.88 and a quick ratio of 1.88. The company’s 50-day moving average is $38.27 and its 200-day moving average is $38.21. The stock has a market capitalization of $2.42 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 2.26 and a beta of 1.20. EVERTEC, Inc. has a 1 year low of $31.56 and a 1 year high of $42.21.

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 analysts’ consensus estimates of $0.59 by ($0.06). EVERTEC had a return on equity of 29.73% and a net margin of 11.48%. The firm had revenue of $194.62 million for the quarter, compared to analyst estimates of $179.86 million. Equities research analysts expect that EVERTEC, Inc. will post 2.33 EPS for the current fiscal year.

EVERTEC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Monday, April 29th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, April 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. EVERTEC’s dividend payout ratio (DPR) is presently 16.53%.

Wall Street Analysts Forecast Growth

EVTC has been the subject of several research analyst reports. Morgan Stanley lifted 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. StockNews.com lowered EVERTEC from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $41.33.

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.