Allspring Global Investments Holdings LLC Acquires 3,980 Shares of Evertec, Inc. (NYSE:EVTC)

Allspring Global Investments Holdings LLC raised its holdings in Evertec, Inc. (NYSE:EVTC) by 55.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,180 shares of the business services provider’s stock after acquiring an additional 3,980 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Evertec were worth $414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of EVTC. Quadrant Capital Group LLC grew 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 during the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Evertec in the 4th quarter worth $54,000. Blue Trust Inc. lifted its holdings in shares of Evertec by 39.2% in the 1st quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider’s stock worth $56,000 after buying an additional 429 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Evertec by 44.7% in the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider’s stock worth $62,000 after buying an additional 525 shares during the period. Finally, Bridgefront Capital LLC purchased a new stake in shares of Evertec in the 4th quarter worth $206,000. Institutional investors own 96.80% of the company’s stock.

Evertec Trading Down 2.5%

Shares of NYSE EVTC opened at $35.26 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.99 and a quick ratio of 1.99. The stock has a market capitalization of $2.24 billion, a P/E ratio of 17.72 and a beta of 0.98. Evertec, Inc. has a 1-year low of $31.11 and a 1-year high of $38.56. The business has a fifty day moving average price of $36.44 and a 200 day moving average price of $35.02.

Evertec (NYSE:EVTC) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. The firm had revenue of $228.79 million during the quarter, compared to analysts’ expectations of $217.97 million. Evertec had a return on equity of 38.45% and a net margin of 14.89%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. Equities research analysts expect that Evertec, Inc. will post 2.63 EPS for the current fiscal year.

Evertec Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, May 13th. Evertec’s dividend payout ratio (DPR) is presently 10.05%.

Analysts Set New Price Targets

EVTC has been the subject of several research reports. Susquehanna set a $39.00 target price on Evertec and gave the stock a “neutral” rating in a report on Tuesday, May 20th. Raymond James Financial upped their target price on Evertec from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Finally, Keefe, Bruyette & Woods upped their price objective on Evertec from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.00.

Insider Buying and Selling

In other Evertec news, EVP Daniel Brignardello sold 7,641 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $36.60, for a total value of $279,660.60. Following the completion of the sale, the executive vice president directly owned 31,277 shares in the company, valued at approximately $1,144,738.20. This trade represents a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $251,125.80. Following the completion of the transaction, the director directly owned 12,473 shares in the company, valued at $457,135.45. This represents a 35.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,634 shares of company stock valued at $2,742,976 in the last 90 days. 0.63% of the stock is owned by 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.