Evertec, Inc. (NYSE:EVTC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of Evertec, Inc. (NYSE:EVTC) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 517,250 shares of the business services provider’s stock after selling 15,090 shares during the period. Bank of New York Mellon Corp owned about 0.81% of Evertec worth $19,019,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Evertec in the fourth quarter valued at $5,356,000. Corient Private Wealth LLC increased its holdings in Evertec by 2.4% in the fourth quarter. Corient Private Wealth LLC now owns 39,893 shares of the business services provider’s stock valued at $1,378,000 after buying an additional 933 shares during the last quarter. Cibc World Markets Corp purchased a new position in Evertec in the fourth quarter valued at $208,000. Sei Investments Co. increased its holdings in Evertec by 13.4% in the fourth quarter. Sei Investments Co. now owns 575,261 shares of the business services provider’s stock valued at $19,864,000 after buying an additional 67,956 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Evertec in the fourth quarter valued at $473,000. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Evertec Stock Performance

NYSE EVTC opened at $33.29 on Friday. 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, Inc. has a 52-week low of $31.11 and a 52-week high of $38.56. The business’s 50-day moving average price is $36.30 and its 200 day moving average price is $34.98. The firm has a market cap of $2.12 billion, a P/E ratio of 16.73 and a beta of 0.98.

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

Evertec Announces Dividend

The business 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Tuesday, May 13th. Evertec’s dividend payout ratio is currently 10.05%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EVTC shares. Deutsche Bank Aktiengesellschaft began coverage on Evertec in a report on Thursday. They issued a “hold” rating and a $35.00 target price on the stock. Keefe, Bruyette & Woods raised 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. Raymond James Financial raised 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. Finally, Susquehanna set a $39.00 price objective on Evertec and gave the stock a “neutral” rating in a report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.00.

Insider Activity

In related news, Director Ivan Pagan sold 6,852 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $36.65, for a total transaction of $251,125.80. Following the transaction, the director owned 12,473 shares of the company’s stock, valued at $457,135.45. This trade represents a 35.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Luis A. Rodriguez-Gonzalez sold 18,898 shares of the firm’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $35.69, for a total transaction of $674,469.62. Following the completion of the sale, the executive vice president owned 35,203 shares of the company’s stock, valued at approximately $1,256,395.07. The trade was a 34.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,634 shares of company stock valued at $2,742,976. Insiders own 0.63% of the company’s stock.

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.