Evertec, Inc. (NYSE:EVTC) Shares Sold by Arizona State Retirement System

Arizona State Retirement System cut its stake in Evertec, Inc. (NYSE:EVTC) by 1.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,248 shares of the business services provider’s stock after selling 320 shares during the period. Arizona State Retirement System’s holdings in Evertec were worth $671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC raised its stake in shares of Evertec by 4,525.0% in the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock worth $26,000 after acquiring an additional 724 shares during the last quarter. Johnson Financial Group Inc. bought a new position in Evertec during the 4th quarter worth approximately $54,000. Blue Trust Inc. raised its stake in Evertec by 39.2% in the 1st quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 429 shares during the period. Fifth Third Bancorp boosted its stake in Evertec by 44.7% in 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. Finally, TD Private Client Wealth LLC lifted its stake in Evertec by 19.3% in the first quarter. TD Private Client Wealth LLC now owns 1,855 shares of the business services provider’s stock worth $68,000 after acquiring an additional 300 shares during the period. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Daniel Brignardello sold 7,641 shares of the firm’s stock in a transaction 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 sale, the executive vice president owned 31,277 shares in the company, valued at approximately $1,144,738.20. This trade represents a 19.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Luis A. Rodriguez-Gonzalez sold 18,898 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $35.69, for a total transaction of $674,469.62. Following the completion of 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. In the last quarter, insiders have sold 75,634 shares of company stock valued at $2,742,976. 0.63% of the stock is currently owned by insiders.

Evertec Price Performance

Shares of NYSE:EVTC opened at $33.42 on Tuesday. 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 twelve month low of $31.11 and a twelve month high of $38.56. The firm has a market capitalization of $2.13 billion, a PE ratio of 16.79, a P/E/G ratio of 1.84 and a beta of 0.98. The company has a 50-day moving average price of $36.30 and a two-hundred day moving average price of $34.99.

Evertec (NYSE:EVTC) last announced its 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 the consensus estimate of $217.97 million. Evertec had a return on equity of 38.45% and a net margin of 14.89%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 EPS. Equities analysts forecast that Evertec, Inc. will post 2.63 EPS for the current year.

Evertec Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors 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 0.60%. The ex-dividend date of this dividend was Tuesday, May 13th. Evertec’s payout ratio is presently 10.05%.

Analysts Set New Price Targets

Several research analysts have weighed in on EVTC shares. Susquehanna set a $39.00 target price on shares of Evertec and gave the stock a “neutral” rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods boosted their price objective on shares of Evertec from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Raymond James Financial raised their price objective 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. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Evertec in a report on Thursday, July 17th. They issued a “hold” rating and a $35.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.00.

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.