Evertec, Inc. (NYSE:EVTC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its stake 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 and 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its holdings in shares of Evertec by 4,525.0% during the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock worth $26,000 after acquiring an additional 724 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Evertec in the fourth quarter valued at $54,000. Blue Trust Inc. increased its holdings in shares of Evertec by 39.2% in the first quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock valued at $56,000 after purchasing an additional 429 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Evertec by 44.7% during the first quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock valued at $62,000 after buying an additional 525 shares during the period. Finally, TD Private Client Wealth LLC increased its position in shares of Evertec by 19.3% during the first quarter. TD Private Client Wealth LLC now owns 1,855 shares of the business services provider's stock valued at $68,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 96.80% of the company's stock.

Insider Transactions at Evertec

In other news, EVP Luis A. Rodriguez-Gonzalez sold 18,898 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $35.69, for a total value of $674,469.62. Following the completion of the sale, the executive vice president directly owned 35,203 shares of the company's stock, valued at approximately $1,256,395.07. This represents a 34.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel Brignardello sold 7,641 shares of the business's stock in a transaction that occurred 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 owned 31,277 shares in the company, valued at $1,144,738.20. The trade was a 19.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,634 shares of company stock valued at $2,742,976. Company insiders own 0.63% of the company's stock.

Evertec Trading Up 0.3%

Shares of EVTC stock opened at $33.76 on Friday. The stock has a market capitalization of $2.15 billion, a P/E ratio of 16.97 and a beta of 0.98. Evertec, Inc. has a 12-month low of $31.11 and a 12-month high of $38.56. The firm's 50 day moving average is $36.34 and its 200 day moving average is $34.99. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.69.

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

Evertec Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. Evertec's payout ratio is currently 10.05%.

Wall Street Analyst Weigh In

EVTC has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Evertec in a research report on Thursday. They issued a "hold" rating and a $35.00 price objective on the stock. Raymond James Financial boosted their target price on Evertec from $39.00 to $42.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Susquehanna set a $39.00 target price on Evertec and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods boosted their price objective on Evertec from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $39.00.

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.

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