EVERTEC, Inc. (NYSE:EVTC) Shares Sold by Arizona State Retirement System

Arizona State Retirement System cut its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 2.5% in the fourth quarter, HoldingsChannel reports. The firm owned 18,067 shares of the business services provider’s stock after selling 462 shares during the period. Arizona State Retirement System’s holdings in EVERTEC were worth $740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Ronald Blue Trust Inc. grew its stake in shares of EVERTEC by 314.9% during 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 during the period. Tower Research Capital LLC TRC grew its position in EVERTEC by 274.8% during the first quarter. Tower Research Capital LLC TRC now owns 1,132 shares of the business services provider’s stock valued at $38,000 after buying an additional 830 shares during the period. Federated Hermes Inc. purchased a new position in EVERTEC in the third quarter valued at $49,000. FMR LLC increased its holdings in EVERTEC by 36.1% in the first quarter. FMR LLC now owns 1,838 shares of the business services provider’s stock valued at $62,000 after buying an additional 488 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new position in shares of EVERTEC in the first quarter worth about $154,000. 96.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Morgan M. Schuessler sold 100,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 347,941 shares of the company’s stock, valued at approximately $12,939,925.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 transaction of $598,880.00. Following the completion of the transaction, the director now directly owns 10,380 shares in the company, valued at approximately $388,523.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Morgan M. Schuessler sold 100,000 shares of the business’s stock in a transaction dated 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 owns 347,941 shares in the company, valued at $12,939,925.79. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

EVERTEC Stock Up 0.2 %

Shares of NYSE EVTC opened at $37.17 on Friday. EVERTEC, Inc. has a 1 year low of $31.55 and a 1 year high of $42.21. The company has a market capitalization of $2.39 billion, a P/E ratio of 30.72, a P/E/G ratio of 2.17 and a beta of 1.20. The company has a 50 day simple moving average of $38.85 and a 200-day simple moving average of $38.15. 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 earnings results on Wednesday, February 28th. The business services provider reported $0.53 EPS 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 business had revenue of $194.62 million during the quarter, compared to analysts’ expectations of $179.86 million. On average, equities research analysts predict that EVERTEC, Inc. will post 2.33 earnings per share for the current year.

EVERTEC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.54%. EVERTEC’s payout ratio is currently 16.53%.

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.