Deutsche Bank AG Reduces Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Deutsche Bank AG trimmed its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 51.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,404 shares of the business services provider’s stock after selling 60,712 shares during the quarter. Deutsche Bank AG owned 0.09% of EVERTEC worth $2,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC boosted its position in EVERTEC by 4.7% during the fourth quarter. FMR LLC now owns 9,542,103 shares of the business services provider’s stock worth $329,489,000 after purchasing an additional 427,859 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of EVERTEC by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,628,404 shares of the business services provider’s stock valued at $56,229,000 after acquiring an additional 32,330 shares during the last quarter. Northern Trust Corp raised its holdings in shares of EVERTEC by 0.8% during the fourth quarter. Northern Trust Corp now owns 847,176 shares of the business services provider’s stock valued at $29,253,000 after acquiring an additional 7,073 shares during the last quarter. Sei Investments Co. raised its holdings in shares of EVERTEC by 13.4% during the fourth quarter. Sei Investments Co. now owns 575,261 shares of the business services provider’s stock valued at $19,864,000 after acquiring an additional 67,956 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of EVERTEC by 41.6% during the fourth quarter. Ameriprise Financial Inc. now owns 568,797 shares of the business services provider’s stock valued at $19,641,000 after acquiring an additional 166,997 shares during the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

EVERTEC Price Performance

NYSE:EVTC opened at $36.34 on Friday. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $38.56. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market cap of $2.31 billion, a PE ratio of 28.39, a P/E/G ratio of 1.43 and a beta of 1.02. The stock has a 50 day moving average price of $35.15 and a 200 day moving average price of $34.73.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The firm had revenue of $228.79 million during the quarter, compared to analysts’ expectations of $217.97 million. During the same quarter last year, the firm earned $0.72 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities research analysts expect that EVERTEC, Inc. will post 2.63 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.20 annualized dividend and a yield of 0.55%. EVERTEC’s dividend payout ratio (DPR) is 10.05%.

Wall Street Analysts Forecast Growth

EVTC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on EVERTEC from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Susquehanna set a $39.00 target price on EVERTEC and gave the company a “neutral” rating in a report on Tuesday. William Blair reissued an “outperform” rating on shares of EVERTEC in a report on Thursday, February 27th. Finally, Raymond James increased their target price on EVERTEC from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, EVERTEC has an average rating of “Moderate Buy” and an average target price of $40.00.

Insiders Place Their Bets

In other EVERTEC news, EVP Daniel Brignardello sold 7,641 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $36.60, for a total transaction of $279,660.60. Following the completion of the sale, the executive vice president now owns 31,277 shares of the company’s stock, valued at $1,144,738.20. This trade represents a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Morgan M. Schuessler sold 80,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $37.45, for a total value of $2,996,000.00. Following the sale, the chief executive officer now directly owns 282,172 shares of the company’s stock, valued at approximately $10,567,341.40. This trade represents a 22.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 257,709 shares of company stock valued at $9,560,936 over the last quarter. 0.63% of the stock is owned by insiders.

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.