Teacher Retirement System of Texas Makes New Investment in Evertec, Inc. (NYSE:EVTC)

Teacher Retirement System of Texas purchased a new position in Evertec, Inc. (NYSE:EVTC) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,184 shares of the business services provider’s stock, valued at approximately $558,000.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Evertec by 55.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,180 shares of the business services provider’s stock worth $414,000 after acquiring an additional 3,980 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Evertec by 4,773.8% during the first quarter. GAMMA Investing LLC now owns 14,524 shares of the business services provider’s stock worth $534,000 after buying an additional 14,226 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Evertec by 44.7% during the first 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 in the last quarter. Blue Trust Inc. grew its holdings in shares of Evertec by 39.2% during the first 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 in the last quarter. Finally, Amundi grew its holdings in shares of Evertec by 83.0% during the fourth quarter. Amundi now owns 43,416 shares of the business services provider’s stock worth $1,459,000 after buying an additional 19,693 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors.

Evertec Stock Performance

EVTC opened at $33.65 on Thursday. Evertec, Inc. has a 12-month low of $31.11 and a 12-month high of $38.56. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 16.91 and a beta of 0.98. The business has a 50 day moving average of $36.38 and a 200-day moving average of $34.99. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.69.

Evertec (NYSE:EVTC) last released its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.06. The business 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 revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.72 EPS. On average, equities research analysts expect that Evertec, Inc. will post 2.63 earnings per share for the current year.

Evertec Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 13th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 13th. This represents a $0.20 annualized dividend and a yield of 0.59%. Evertec’s payout ratio is currently 10.05%.

Insider Buying and Selling at Evertec

In other Evertec news, EVP Miguel Vizcarrondo sold 40,000 shares of Evertec stock in a transaction on Monday, May 12th. The stock was sold at an average price of $36.44, for a total value of $1,457,600.00. Following the completion of the transaction, the executive vice president directly owned 92,509 shares of the company’s stock, valued at $3,371,027.96. The trade was a 30.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Luis A. Rodriguez-Gonzalez sold 18,898 shares of Evertec stock in a transaction on Friday, May 9th. The shares were sold at an average price of $35.69, for a total value of $674,469.62. Following the completion of the transaction, the executive vice president directly owned 35,203 shares of the company’s stock, valued at $1,256,395.07. This represents a 34.93% 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 worth $2,742,976 in the last 90 days. Company insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

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

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.