Nuveen Asset Management LLC Sells 77,135 Shares of EVERTEC, Inc. (NYSE:EVTC)

Nuveen Asset Management LLC reduced its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 28.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,706 shares of the business services provider’s stock after selling 77,135 shares during the quarter. Nuveen Asset Management LLC owned 0.31% of EVERTEC worth $6,861,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in EVTC. Quadrant Capital Group LLC lifted its position in EVERTEC by 4,525.0% in the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 724 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of EVERTEC by 199.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 794 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of EVERTEC by 52.1% during the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock valued at $41,000 after buying an additional 402 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of EVERTEC during the fourth quarter valued at approximately $54,000. Finally, Blue Trust Inc. grew its holdings in EVERTEC by 55.2% during the fourth quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider’s stock worth $73,000 after buying an additional 764 shares in the last quarter. 96.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price objective on EVERTEC from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Raymond James raised their price target on shares of EVERTEC from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Susquehanna set a $39.00 price objective on shares of EVERTEC and gave the stock a “neutral” rating in a research report on Tuesday, May 20th. Finally, William Blair reiterated an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, EVERTEC currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Insiders Place Their Bets

In other EVERTEC news, Director Ivan Pagan sold 6,852 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $36.65, for a total transaction of $251,125.80. Following the completion of the transaction, the director now owns 12,473 shares in the company, valued at $457,135.45. This trade represents a 35.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel Brignardello sold 7,641 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were 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 directly owns 31,277 shares in the company, valued at approximately $1,144,738.20. This trade represents a 19.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 264,561 shares of company stock valued at $9,812,062 over the last ninety days. 0.63% of the stock is currently owned by insiders.

EVERTEC Stock Down 0.1%

Shares of NYSE:EVTC opened at $36.30 on Friday. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $38.56. The company has a market capitalization of $2.31 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02. The business has a fifty day moving average price of $35.09 and a two-hundred day moving average price of $34.77. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97.

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

EVERTEC Dividend Announcement

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

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.