EVERTEC, Inc. (NYSE:EVTC) Director Sells $251,125.80 in Stock

EVERTEC, Inc. (NYSE:EVTC - Get Free Report) Director Ivan Pagan sold 6,852 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $36.65, for a total transaction of $251,125.80. Following the completion of the sale, the director now directly owns 12,473 shares of the company's stock, valued at $457,135.45. The trade was a 35.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

EVERTEC Stock Down 0.4%

Shares of EVTC traded down $0.13 during mid-day trading on Friday, reaching $36.24. The company's stock had a trading volume of 326,001 shares, compared to its average volume of 381,278. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02. The business has a fifty day moving average of $35.09 and a 200 day moving average of $34.77. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $38.56.

EVERTEC (NYSE:EVTC - Get Free Report) last announced its quarterly earnings data 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. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. 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 earned $0.72 EPS. The business's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, analysts forecast that EVERTEC, Inc. will post 2.63 earnings per share for the current fiscal year.

EVERTEC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Tuesday, May 13th. EVERTEC's dividend payout ratio is currently 10.05%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board acquired a new stake in shares of EVERTEC during the 4th quarter valued at $17,416,000. FMR LLC raised its holdings in shares of EVERTEC by 4.7% during the fourth 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 in the last quarter. Nuveen LLC purchased a new position in EVERTEC in the first quarter valued at about $7,196,000. Norges Bank acquired a new position in EVERTEC in the 4th quarter worth about $6,568,000. Finally, Ameriprise Financial Inc. increased its position in 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 purchasing an additional 166,997 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on EVTC. Raymond James increased their target price on EVERTEC from $39.00 to $42.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. William Blair reissued an "outperform" rating on shares of EVERTEC in a research note on Thursday, February 27th. Susquehanna set a $39.00 price target on shares of EVERTEC and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods lifted their price target on EVERTEC from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $40.00.

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.