Balyasny Asset Management L.P. Invests $955,000 in EVERTEC, Inc. (NYSE:EVTC)

Balyasny Asset Management L.P. bought a new stake in EVERTEC, Inc. (NYSE:EVTC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 27,662 shares of the business services provider's stock, valued at approximately $955,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of EVERTEC by 4.7% in the 4th quarter. FMR LLC now owns 9,542,103 shares of the business services provider's stock worth $329,489,000 after acquiring an additional 427,859 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of EVERTEC by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,628,404 shares of the business services provider's stock worth $56,229,000 after acquiring an additional 32,330 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of EVERTEC by 0.8% in the 4th quarter. Northern Trust Corp now owns 847,176 shares of the business services provider's stock worth $29,253,000 after acquiring an additional 7,073 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of EVERTEC by 13.4% in the 4th quarter. Sei Investments Co. now owns 575,261 shares of the business services provider's stock worth $19,864,000 after acquiring an additional 67,956 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of EVERTEC by 41.6% in the 4th quarter. Ameriprise Financial Inc. now owns 568,797 shares of the business services provider's stock worth $19,641,000 after acquiring an additional 166,997 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

EVERTEC Price Performance

NYSE:EVTC traded up $0.48 during mid-day trading on Friday, hitting $37.75. 425,362 shares of the company's stock traded hands, compared to its average volume of 385,753. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. The firm's 50 day simple moving average is $35.02 and its 200 day simple moving average is $34.58. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $38.32. The company has a market cap of $2.40 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02.

EVERTEC (NYSE:EVTC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 10.20% and a return on equity of 33.01%. The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 earnings per share. Sell-side analysts expect that EVERTEC, Inc. will post 2.63 EPS for the current year.

EVERTEC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. EVERTEC's payout ratio is 10.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EVTC shares. Susquehanna upgraded shares of EVERTEC from a "negative" rating to a "neutral" rating and increased their target price for the stock from $28.00 to $30.00 in a report on Thursday, February 27th. Keefe, Bruyette & Woods raised their price objective on shares of EVERTEC from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. William Blair reaffirmed an "outperform" rating on shares of EVERTEC in a research report on Thursday, February 27th. Finally, Raymond James increased their target price 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.75.

Insider Activity at EVERTEC

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the 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 sale, the executive vice president now directly owns 92,509 shares in the company, valued at approximately $3,371,027.96. This represents a 30.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Brignardello sold 7,641 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $36.60, for a total value of $279,660.60. Following the completion of the sale, the executive vice president now owns 31,277 shares of the company's stock, valued at approximately $1,144,738.20. This represents a 19.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 257,709 shares of company stock worth $9,560,936. 0.63% of the stock is owned by company insiders.

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.