Balyasny Asset Management L.P. Buys Shares of 27,662 EVERTEC, Inc. (NYSE:EVTC)

Balyasny Asset Management L.P. acquired a new stake in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 27,662 shares of the business services provider's stock, valued at approximately $955,000.

Other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in shares of EVERTEC by 52.1% in the 4th quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider's stock valued at $41,000 after purchasing an additional 402 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of EVERTEC by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,747 shares of the business services provider's stock valued at $233,000 after purchasing an additional 429 shares during the last quarter. Bridge City Capital LLC boosted its holdings in shares of EVERTEC by 0.9% in the 4th quarter. Bridge City Capital LLC now owns 68,784 shares of the business services provider's stock valued at $2,375,000 after purchasing an additional 601 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of EVERTEC by 4,525.0% in the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock valued at $26,000 after purchasing an additional 724 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of EVERTEC by 55.2% in the 4th quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider's stock valued at $73,000 after purchasing an additional 764 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company's stock.

Insider Transactions at EVERTEC

In other news, CAO Karla Cruz sold 2,000 shares of EVERTEC stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $36.77, for a total value of $73,540.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,065 shares of the company's stock, valued at approximately $664,250.05. The trade was a 9.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Daniel Brignardello sold 7,641 shares of EVERTEC stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $36.60, for a total transaction of $279,660.60. Following the completion of the transaction, the executive vice president now directly owns 31,277 shares of the company's stock, valued at $1,144,738.20. This trade represents a 19.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 257,709 shares of company stock valued at $9,560,936. Insiders own 0.63% of the company's stock.

EVERTEC Stock Up 0.2%

EVERTEC stock traded up $0.08 during midday trading on Tuesday, hitting $38.29. 22,750 shares of the stock were exchanged, compared to its average volume of 383,837. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $38.32. The firm has a market cap of $2.44 billion, a P/E ratio of 29.91, a P/E/G ratio of 1.43 and a beta of 1.02. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. The company has a 50 day moving average price of $35.07 and a two-hundred day moving average price of $34.63.

EVERTEC (NYSE:EVTC - Get Free Report) 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 the consensus estimate of $0.81 by $0.06. The firm had revenue of $228.79 million for 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 firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS. On average, sell-side analysts predict that EVERTEC, Inc. will post 2.63 earnings per share for the current fiscal year.

EVERTEC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Tuesday, May 13th. EVERTEC's payout ratio is currently 10.05%.

Wall Street Analyst Weigh In

EVTC has been the topic of a number of research analyst reports. Susquehanna lifted their price target on shares of EVERTEC from $35.00 to $39.00 and gave the company a "neutral" rating in a report on Tuesday. Raymond James raised their target price on shares of EVERTEC from $39.00 to $42.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Keefe, Bruyette & Woods raised their target price 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. Finally, William Blair reissued an "outperform" rating on shares of EVERTEC in a research note on Thursday, February 27th. 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, EVERTEC presently has an average rating of "Moderate Buy" and an average price target of $40.00.

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.