Louisiana State Employees Retirement System Acquires New Position in EVERTEC, Inc. (NYSE:EVTC)

Louisiana State Employees Retirement System purchased a new position in shares of EVERTEC, Inc. (NYSE:EVTC) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 32,900 shares of the business services provider’s stock, valued at approximately $1,347,000.

Other large investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its stake in EVERTEC by 73.1% during the third quarter. Envestnet Asset Management Inc. now owns 409,002 shares of the business services provider’s stock worth $15,207,000 after purchasing an additional 172,692 shares during the period. Pathstone Family Office LLC raised its stake in EVERTEC by 5.8% during the third quarter. Pathstone Family Office LLC now owns 319,935 shares of the business services provider’s stock worth $11,895,000 after purchasing an additional 17,467 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in EVERTEC by 50.9% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 92,800 shares of the business services provider’s stock worth $3,450,000 after purchasing an additional 31,300 shares during the period. Loomis Sayles & Co. L P raised its stake in EVERTEC by 16.2% during the third quarter. Loomis Sayles & Co. L P now owns 1,452,050 shares of the business services provider’s stock worth $53,987,000 after purchasing an additional 202,757 shares during the period. Finally, One Fin Capital Management LP raised its stake in shares of EVERTEC by 6.1% in the 3rd quarter. One Fin Capital Management LP now owns 350,000 shares of the business services provider’s stock valued at $13,013,000 after acquiring an additional 20,000 shares during the period. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on EVTC shares. StockNews.com downgraded shares of EVERTEC from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Morgan Stanley raised their target price 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $41.33.

EVERTEC Price Performance

EVTC opened at $37.79 on Monday. The company has a fifty day simple moving average of $38.78 and a 200 day simple moving average of $38.17. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 2.22 and a beta of 1.20. EVERTEC, Inc. has a twelve month low of $31.55 and a twelve month high of $42.21. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.58.

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

EVERTEC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors 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 yield of 0.53%. The ex-dividend date of this dividend is Friday, April 26th. EVERTEC’s payout ratio is 16.53%.

Insider Activity at EVERTEC

In other EVERTEC news, CEO Morgan M. Schuessler sold 100,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the completion of the transaction, the chief executive officer now directly owns 347,941 shares of the company’s stock, valued at approximately $12,939,925.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other EVERTEC news, CEO Morgan M. Schuessler sold 100,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the completion of the transaction, the chief executive officer now directly owns 347,941 shares of the company’s stock, valued at approximately $12,939,925.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank G. D’angelo sold 16,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was 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 disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

EVERTEC 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.