Franklin Resources Inc. Decreases Position in EVERTEC, Inc. (NYSE:EVTC)

Franklin Resources Inc. decreased its position in EVERTEC, Inc. (NYSE:EVTCFree Report) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,539 shares of the business services provider’s stock after selling 365 shares during the period. Franklin Resources Inc. owned about 0.05% of EVERTEC worth $1,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Willis Investment Counsel lifted its position in shares of EVERTEC by 1.0% during the 4th quarter. Willis Investment Counsel now owns 34,476 shares of the business services provider’s stock valued at $1,411,000 after buying an additional 345 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in EVERTEC by 1.6% during the fourth quarter. Yousif Capital Management LLC now owns 32,464 shares of the business services provider’s stock valued at $1,329,000 after purchasing an additional 500 shares during the last quarter. HighTower Advisors LLC lifted its holdings in EVERTEC by 1.6% during the third quarter. HighTower Advisors LLC now owns 34,017 shares of the business services provider’s stock valued at $1,271,000 after purchasing an additional 545 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in EVERTEC by 10.7% during the fourth quarter. First Trust Direct Indexing L.P. now owns 6,407 shares of the business services provider’s stock worth $262,000 after purchasing an additional 617 shares during the period. Finally, Equitable Trust Co. increased its stake in shares of EVERTEC by 7.1% in the fourth quarter. Equitable Trust Co. now owns 10,956 shares of the business services provider’s stock worth $449,000 after purchasing an additional 731 shares in the last quarter. 96.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EVTC shares. StockNews.com downgraded shares of EVERTEC from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Morgan Stanley raised their price target on EVERTEC from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $41.33.

Check Out Our Latest Analysis on EVTC

Insider Activity

In related news, Director Frank G. D’angelo sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were 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 $388,523.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Frank G. D’angelo sold 16,000 shares of EVERTEC stock in a transaction on Monday, March 11th. The shares were sold at an average price of $37.43, for a total transaction of $598,880.00. Following the completion of the sale, the director now directly owns 10,380 shares of the company’s stock, valued at approximately $388,523.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Morgan M. Schuessler sold 100,000 shares of the 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 directly owns 347,941 shares in the company, valued at approximately $12,939,925.79. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company’s stock.

EVERTEC Price Performance

EVTC stock opened at $33.88 on Wednesday. The firm has a 50 day moving average of $37.39 and a 200-day moving average of $38.60. The firm has a market capitalization of $2.18 billion, a P/E ratio of 34.22, a price-to-earnings-growth ratio of 1.98 and a beta of 1.16. 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.

EVERTEC (NYSE:EVTCGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.54 by $0.09. The firm had revenue of $205.32 million during the quarter, compared to the consensus estimate of $200.75 million. EVERTEC had a net margin of 8.87% and a return on equity of 29.86%. As a group, sell-side analysts predict that EVERTEC, Inc. will post 2.41 earnings per share for the current fiscal year.

EVERTEC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders 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 annualized dividend and a dividend yield of 0.59%. EVERTEC’s payout ratio is currently 20.20%.

EVERTEC Profile

(Free Report)

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.

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Institutional Ownership by Quarter for EVERTEC (NYSE:EVTC)

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