Clifford Capital Partners LLC Acquires 78,301 Shares of EVERTEC, Inc. (NYSE:EVTC)

Clifford Capital Partners LLC increased its stake in EVERTEC, Inc. (NYSE:EVTC) by 20.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 459,830 shares of the business services provider’s stock after purchasing an additional 78,301 shares during the quarter. EVERTEC comprises about 3.3% of Clifford Capital Partners LLC’s holdings, making the stock its 12th largest position. Clifford Capital Partners LLC owned 0.71% of EVERTEC worth $15,289,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Aristides Capital LLC grew its position in shares of EVERTEC by 39.9% during the 2nd quarter. Aristides Capital LLC now owns 42,419 shares of the business services provider’s stock valued at $1,410,000 after purchasing an additional 12,100 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of EVERTEC by 866.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock worth $81,000 after purchasing an additional 2,175 shares during the last quarter. Algert Global LLC purchased a new stake in EVERTEC in the second quarter valued at approximately $219,000. Susquehanna Fundamental Investments LLC bought a new stake in EVERTEC during the second quarter valued at approximately $2,762,000. Finally, The Manufacturers Life Insurance Company grew its stake in EVERTEC by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,625 shares of the business services provider’s stock worth $1,052,000 after buying an additional 882 shares in the last quarter. Institutional investors own 96.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods dropped their price target on EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Susquehanna cut shares of EVERTEC from a “neutral” rating to a “negative” rating and decreased their target price for the stock from $38.00 to $28.00 in a research report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $34.33.

Insiders Place Their Bets

In other news, EVP Miguel Vizcarrondo sold 40,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the sale, the executive vice president now owns 129,928 shares in the company, valued at approximately $4,431,844.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other EVERTEC news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of EVERTEC stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $35.10, for a total value of $1,263,600.00. Following the completion of the transaction, the executive vice president now directly owns 39,370 shares of the company’s stock, valued at $1,381,887. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the transaction, the executive vice president now owns 129,928 shares in the company, valued at approximately $4,431,844.08. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate insiders.

EVERTEC Price Performance

Shares of EVERTEC stock opened at $33.81 on Wednesday. The firm has a market cap of $2.18 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 1.66 and a beta of 1.15. The company’s fifty day simple moving average is $33.42 and its two-hundred day simple moving average is $34.98. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.92. EVERTEC, Inc. has a 12-month low of $28.76 and a 12-month high of $42.21.

EVERTEC (NYSE:EVTC) last announced its earnings results on Wednesday, July 31st. The business services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.19. The company had revenue of $211.98 million during the quarter, compared to the consensus estimate of $209.40 million. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. As a group, equities analysts expect that EVERTEC, Inc. will post 2.53 EPS for the current year.

EVERTEC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, July 29th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Monday, July 29th. EVERTEC’s dividend payout ratio is currently 20.20%.

About EVERTEC

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.