Evertec, Inc. $EVTC Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its holdings in shares of Evertec, Inc. (NYSE:EVTC) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,133,522 shares of the business services provider’s stock after selling 142,540 shares during the period. Vanguard Group Inc. owned approximately 11.14% of Evertec worth $262,300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of Evertec by 2.3% during the first quarter. Principal Financial Group Inc. now owns 317,649 shares of the business services provider’s stock worth $11,680,000 after buying an additional 7,125 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Evertec by 55.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,180 shares of the business services provider’s stock worth $414,000 after buying an additional 3,980 shares during the period. GAMMA Investing LLC boosted its position 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 during the period. Fifth Third Bancorp boosted its position 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 during the period. Finally, Blue Trust Inc. boosted its position 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 during the period. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Evertec Price Performance

NYSE EVTC opened at $37.00 on Tuesday. The stock has a market capitalization of $2.37 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.80 and a beta of 0.96. Evertec, Inc. has a 1 year low of $31.11 and a 1 year high of $38.56. The business’s fifty day moving average is $35.50 and its two-hundred day moving average is $35.30. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.20 and a current ratio of 2.20.

Evertec (NYSE:EVTC) last posted its quarterly earnings results on Wednesday, July 30th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.03. The company had revenue of $229.61 million for the quarter, compared to analysts’ expectations of $222.23 million. Evertec had a return on equity of 36.67% and a net margin of 15.56%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 earnings per share. On average, research analysts forecast that Evertec, Inc. will post 2.63 earnings per share for the current fiscal year.

Evertec Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 4th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. Evertec’s dividend payout ratio is currently 9.43%.

Insider Buying and Selling at Evertec

In other Evertec news, Director Ivan Pagan sold 6,852 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $36.65, for a total value of $251,125.80. Following the transaction, the director owned 12,473 shares of the company’s stock, valued at approximately $457,135.45. This represents a 35.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aldo J. Polak sold 2,243 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $35.72, for a total value of $80,119.96. Following the completion of the transaction, the director directly owned 11,946 shares in the company, valued at $426,711.12. This represents a 15.81% decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Evertec in a report on Thursday, July 17th. They set a “hold” rating and a $35.00 target price on the stock. Susquehanna set a $39.00 target price on Evertec and gave the stock a “neutral” rating in a report on Tuesday, May 20th. Morgan Stanley dropped their target price on Evertec from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. Raymond James Financial reissued an “outperform” rating and set a $43.00 target price (up previously from $42.00) on shares of Evertec in a report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods boosted their target price on Evertec from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $39.00.

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.