Victory Capital Management Inc. Has $72.35 Million Holdings in Evertec, Inc. (NYSE:EVTC)

Victory Capital Management Inc. trimmed its position in shares of Evertec, Inc. (NYSE:EVTC - Free Report) by 1.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,967,622 shares of the business services provider's stock after selling 31,891 shares during the quarter. Victory Capital Management Inc. owned 3.07% of Evertec worth $72,349,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new position in Evertec during the 4th quarter worth approximately $17,416,000. FMR LLC raised its holdings in shares of Evertec by 4.7% in the fourth quarter. FMR LLC now owns 9,542,103 shares of the business services provider's stock worth $329,489,000 after buying an additional 427,859 shares during the period. Norges Bank bought a new position in Evertec in the fourth quarter worth approximately $6,568,000. Ameriprise Financial Inc. boosted its position 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 purchasing an additional 166,997 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Evertec in the 4th quarter worth $5,356,000. 96.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Aldo J. Polak sold 2,243 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $35.72, for a total value of $80,119.96. Following the sale, the director owned 11,946 shares of the company's stock, valued at approximately $426,711.12. This trade represents a 15.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ivan Pagan sold 6,852 shares of Evertec stock in a transaction on Friday, May 23rd. The shares were 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 in the company, valued at approximately $457,135.45. This trade represents a 35.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,634 shares of company stock worth $2,742,976. Corporate insiders own 0.63% of the company's stock.

Evertec Stock Performance

NYSE EVTC traded up $0.14 during trading hours on Monday, reaching $33.42. 271,981 shares of the company were exchanged, compared to its average volume of 338,764. The business's 50 day simple moving average is $36.30 and its 200-day simple moving average is $34.99. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.69. Evertec, Inc. has a 1 year low of $31.11 and a 1 year high of $38.56. The stock has a market capitalization of $2.13 billion, a P/E ratio of 16.79, a P/E/G ratio of 1.84 and a beta of 0.98.

Evertec (NYSE:EVTC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. The firm had revenue of $228.79 million during the quarter, compared to analyst estimates of $217.97 million. Evertec had a net margin of 14.89% and a return on equity of 38.45%. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 EPS. On average, equities research analysts expect that Evertec, Inc. will post 2.63 earnings per share for the current year.

Evertec Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Tuesday, May 13th. Evertec's payout ratio is presently 10.05%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Evertec in a research note on Thursday. They set a "hold" rating and a $35.00 target price for the company. Susquehanna set a $39.00 price objective on shares of Evertec and gave the company a "neutral" rating in a report on Tuesday, May 20th. Raymond James Financial upped their target price on Evertec from $39.00 to $42.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Keefe, Bruyette & Woods upped their price objective on Evertec from $42.00 to $44.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $39.00.

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.