Deutsche Bank AG Lowers Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Deutsche Bank AG reduced its stake in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 51.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,404 shares of the business services provider's stock after selling 60,712 shares during the period. Deutsche Bank AG owned 0.09% of EVERTEC worth $2,017,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new stake in EVERTEC during the fourth quarter valued at about $17,416,000. FMR LLC grew its position 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 purchasing an additional 427,859 shares in the last quarter. Norges Bank bought a new stake in EVERTEC during the 4th quarter valued at approximately $6,568,000. Ameriprise Financial Inc. raised its stake in EVERTEC by 41.6% during the 4th quarter. Ameriprise Financial Inc. now owns 568,797 shares of the business services provider's stock valued at $19,641,000 after purchasing an additional 166,997 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in EVERTEC in the 4th quarter worth $5,356,000. 96.80% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Ivan Pagan sold 6,852 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $36.65, for a total transaction of $251,125.80. Following the completion of the transaction, the director now owns 12,473 shares of the company's stock, valued at $457,135.45. This trade represents a 35.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paola Perez-Surillo sold 14,585 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $37.15, for a total value of $541,832.75. Following the completion of the transaction, the executive vice president now directly owns 35,203 shares of the company's stock, valued at approximately $1,307,791.45. This trade represents a 29.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 264,561 shares of company stock valued at $9,812,062. Insiders own 0.63% of the company's stock.

EVERTEC Stock Down 0.1%

Shares of EVTC traded down $0.03 during mid-day trading on Thursday, hitting $36.30. The company's stock had a trading volume of 171,591 shares, compared to its average volume of 381,499. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.43 and a beta of 1.02. The company's 50-day moving average is $35.09 and its 200-day moving average is $34.77. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $38.56.

EVERTEC (NYSE:EVTC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating 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 company had revenue of $228.79 million for the quarter, compared to analyst estimates of $217.97 million. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts forecast that EVERTEC, Inc. will post 2.63 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors 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 0.55%. 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 subject of a number of recent research reports. Raymond James lifted their price objective on shares of EVERTEC from $39.00 to $42.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Keefe, Bruyette & Woods boosted their target price on EVERTEC from $42.00 to $44.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. William Blair reiterated an "outperform" rating on shares of EVERTEC in a research report on Thursday, February 27th. Finally, Susquehanna set a $39.00 price target on shares of EVERTEC and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently 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.