Victory Capital Management Inc. Raises Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Victory Capital Management Inc. raised its stake in shares of EVERTEC, Inc. (NYSE:EVTC – Get Rating) by 28.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 245,525 shares of the business services provider’s stock after purchasing an additional 55,068 shares during the quarter. Victory Capital Management Inc. owned approximately 0.38% of EVERTEC worth $8,288,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EVTC. Yousif Capital Management LLC grew its position in shares of EVERTEC by 8.9% in the 3rd quarter. Yousif Capital Management LLC now owns 52,977 shares of the business services provider’s stock worth $1,661,000 after buying an additional 4,339 shares during the period. Martingale Asset Management L P grew its position in shares of EVERTEC by 37.8% in the 3rd quarter. Martingale Asset Management L P now owns 27,732 shares of the business services provider’s stock worth $870,000 after buying an additional 7,607 shares during the period. Bridgefront Capital LLC purchased a new stake in shares of EVERTEC in the 3rd quarter worth about $296,000. ETF Managers Group LLC grew its position in shares of EVERTEC by 6.6% in the 3rd quarter. ETF Managers Group LLC now owns 215,517 shares of the business services provider’s stock worth $6,756,000 after buying an additional 13,421 shares during the period. Finally, Raymond James & Associates grew its position in shares of EVERTEC by 6.1% in the 4th quarter. Raymond James & Associates now owns 238,518 shares of the business services provider’s stock worth $7,723,000 after buying an additional 13,810 shares during the period. 97.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at EVERTEC

In other EVERTEC news, CFO Joaquin A. Castrillo-Salgado sold 15,000 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $36.18, for a total transaction of $542,700.00. Following the transaction, the chief financial officer now owns 59,489 shares in the company, valued at approximately $2,152,312.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Joaquin A. Castrillo-Salgado sold 15,000 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $36.18, for a total value of $542,700.00. Following the transaction, the chief financial officer now owns 59,489 shares in the company, valued at approximately $2,152,312.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Morgan M. Schuessler sold 27,101 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $35.94, for a total transaction of $974,009.94. Following the completion of the transaction, the chief executive officer now owns 169,750 shares in the company, valued at approximately $6,100,815. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,142 shares of company stock worth $3,409,682. Company insiders own 0.64% of the company’s stock.

EVERTEC Stock Performance

Shares of EVERTEC stock opened at $35.08 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 2.01. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 10.23 and a beta of 0.97. The firm’s 50-day moving average is $33.77 and its 200 day moving average is $34.04. EVERTEC, Inc. has a 1 year low of $30.17 and a 1 year high of $40.29.

EVERTEC (NYSE:EVTC – Get Rating) last posted its earnings results on Wednesday, April 26th. The business services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The business had revenue of $159.81 million for the quarter, compared to analysts’ expectations of $152.17 million. EVERTEC had a net margin of 36.65% and a return on equity of 29.70%. Sell-side analysts anticipate that EVERTEC, Inc. will post 2.4 EPS for the current fiscal year.

EVERTEC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Monday, May 1st will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Friday, April 28th. EVERTEC’s dividend payout ratio is currently 5.83%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EVTC. TheStreet upgraded shares of EVERTEC from a “c+” rating to a “b” rating in a research note on Tuesday, January 31st. Raymond James upped their price target on shares of EVERTEC from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, February 23rd. Finally, StockNews.com began coverage on shares of EVERTEC in a research note on Thursday, May 18th. They issued a “hold” rating on the stock.

EVERTEC Profile

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EVERTEC, Inc engages in the provision of transaction services. It operates through the following segments: Payment Services-Puerto Rico and Caribbean, Payment Services-Latin America, Merchant Acquiring, Business Solutions, and Corporate and Other. The Payment Services segment is involved in the authorization, processing, management and recording of automated teller machines (ATM) and point of sales transactions, and ATM management and monitoring.