Envestnet Asset Management Inc. Has $12.21 Million Stock Position in Evertec, Inc. (NYSE:EVTC)

Envestnet Asset Management Inc. increased its holdings in shares of Evertec, Inc. (NYSE:EVTC) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 332,121 shares of the business services provider’s stock after acquiring an additional 2,439 shares during the quarter. Envestnet Asset Management Inc. owned about 0.52% of Evertec worth $12,212,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Investment Advisors Inc. lifted its stake in Evertec by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,747 shares of the business services provider’s stock worth $233,000 after purchasing an additional 429 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Evertec by 39.2% during 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 last quarter. Fifth Third Bancorp lifted its position in shares of Evertec by 44.7% during 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 last quarter. Bridge City Capital LLC boosted its stake in Evertec by 0.9% in the fourth quarter. Bridge City Capital LLC now owns 68,784 shares of the business services provider’s stock valued at $2,375,000 after buying an additional 601 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in Evertec by 6.9% in the fourth quarter. Cetera Investment Advisers now owns 10,645 shares of the business services provider’s stock valued at $368,000 after acquiring an additional 690 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on EVTC. Susquehanna set a $39.00 price target on Evertec and gave the company a “neutral” rating in a research note on Tuesday, May 20th. Keefe, Bruyette & Woods raised their price target on shares of Evertec from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Evertec in a report on Thursday. They set a “hold” rating and a $35.00 price target on the stock. Finally, Raymond James Financial increased their price objective on Evertec from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Evertec Stock Performance

EVTC opened at $33.29 on Friday. Evertec, Inc. has a 1-year low of $31.11 and a 1-year high of $38.56. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 16.73 and a beta of 0.98. The company’s fifty day moving average price is $36.30 and its two-hundred day moving average price is $34.98. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.69.

Evertec (NYSE:EVTC) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.87 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $217.97 million. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, analysts expect that Evertec, Inc. will post 2.63 EPS for the current fiscal year.

Evertec Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.60%. Evertec’s dividend payout ratio (DPR) is presently 10.05%.

Insider Buying and Selling

In related news, Director Ivan Pagan sold 6,852 shares of the business’s stock in a transaction that occurred on 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 owned 12,473 shares of the company’s stock, valued at approximately $457,135.45. The trade was a 35.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Luis A. Rodriguez-Gonzalez sold 18,898 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $35.69, for a total value of $674,469.62. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,634 shares of company stock worth $2,742,976 in the last three months. 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.