First Trust Direct Indexing L.P. Buys 617 Shares of EVERTEC, Inc. (NYSE:EVTC)

First Trust Direct Indexing L.P. increased its holdings in EVERTEC, Inc. (NYSE:EVTC) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,407 shares of the business services provider’s stock after purchasing an additional 617 shares during the period. First Trust Direct Indexing L.P.’s holdings in EVERTEC were worth $262,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of EVTC. Federated Hermes Inc. purchased a new stake in shares of EVERTEC during the 3rd quarter valued at about $49,000. Hennion & Walsh Asset Management Inc. bought a new position in EVERTEC during the 3rd quarter worth about $223,000. AlphaQ Advisors LLC bought a new position in EVERTEC in the fourth quarter worth approximately $231,000. Jump Financial LLC bought a new stake in EVERTEC during the third quarter valued at about $244,000. Finally, AlphaMark Advisors LLC purchased a new position in shares of EVERTEC in the 3rd quarter worth approximately $251,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Insider Transactions at EVERTEC

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 transaction, the chief executive officer now owns 347,941 shares in the company, valued at approximately $12,939,925.79. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Morgan M. Schuessler sold 100,000 shares of the company’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 sale, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frank G. D’angelo sold 16,000 shares of EVERTEC stock in a transaction that occurred on 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 in the company, valued at approximately $388,523.40. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company’s stock.

EVERTEC Price Performance

EVTC opened at $37.16 on Wednesday. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 37.54, a PEG ratio of 2.13 and a beta of 1.19. EVERTEC, Inc. has a 12-month low of $31.56 and a 12-month high of $42.21. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.84. The stock’s 50-day moving average price is $37.91 and its 200 day moving average price is $38.24.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings data on Wednesday, February 28th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). EVERTEC had a net margin of 8.87% and a return on equity of 29.86%. The company had revenue of $194.62 million during the quarter, compared to analysts’ expectations of $179.86 million. As a group, sell-side analysts expect that EVERTEC, Inc. will post 2.33 earnings per share for the current year.

EVERTEC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, April 29th will be issued a $0.05 dividend. The ex-dividend date is Friday, April 26th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. EVERTEC’s payout ratio is currently 20.20%.

Analysts Set New Price Targets

EVTC has been the topic of several recent analyst reports. StockNews.com downgraded shares of EVERTEC from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Morgan Stanley boosted their price target on shares of EVERTEC from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $41.33.

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.