EVERTEC, Inc. (NYSE:EVTC) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in EVERTEC, Inc. (NYSE:EVTC) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,899 shares of the business services provider’s stock after selling 1,467 shares during the period. New York State Common Retirement Fund’s holdings in EVERTEC were worth $1,797,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of EVERTEC by 20.1% in the third 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 period. Strs Ohio acquired a new position in EVERTEC in the 3rd quarter valued at $431,000. Mirae Asset Global Investments Co. Ltd. raised its position in EVERTEC by 8.6% during the 3rd 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 last quarter. Assetmark Inc. lifted its stake in shares of EVERTEC by 17.4% in the 3rd quarter. Assetmark Inc. now owns 26,688 shares of the business services provider’s stock worth $992,000 after acquiring an additional 3,965 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of EVERTEC by 2.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 14,682 shares of the business services provider’s stock valued at $546,000 after acquiring an additional 332 shares in the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

EVERTEC Stock Performance

NYSE:EVTC opened at $37.38 on Thursday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a fifty-two week low of $31.56 and a fifty-two week high of $42.21. The firm’s fifty day simple moving average is $37.85 and its 200-day simple moving average is $38.24. The stock has a market cap of $2.41 billion, a PE ratio of 37.76, a price-to-earnings-growth ratio of 2.13 and a beta of 1.19.

EVERTEC (NYSE:EVTC) last issued its earnings results on Wednesday, February 28th. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). EVERTEC had a return on equity of 29.86% and a net margin of 8.87%. The company had revenue of $194.62 million for the quarter, compared to analyst estimates of $179.86 million. Analysts expect that EVERTEC, Inc. will post 2.33 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EVTC shares. StockNews.com cut shares of EVERTEC from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Morgan Stanley increased 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 given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, EVERTEC presently has a consensus rating of “Hold” and an average price target of $41.33.

Insider Activity at EVERTEC

In other EVERTEC news, Director Frank G. D’angelo sold 16,000 shares of the company’s stock in a transaction 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 sale, the director now owns 10,380 shares of the company’s stock, valued at $388,523.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Morgan M. Schuessler sold 100,000 shares of the firm’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 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 filing with the SEC, which is available at 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 owns 10,380 shares of the company’s stock, valued at $388,523.40. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.

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.