SG Americas Securities LLC Reduces Stock Holdings in Evertec, Inc. (NYSE:EVTC)

SG Americas Securities LLC decreased its holdings in Evertec, Inc. (NYSE:EVTC - Free Report) by 25.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 22,458 shares of the business services provider's stock after selling 7,811 shares during the period. SG Americas Securities LLC's holdings in Evertec were worth $826,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rhumbline Advisers lifted its stake in shares of Evertec by 1.8% in the 4th quarter. Rhumbline Advisers now owns 174,264 shares of the business services provider's stock valued at $6,017,000 after purchasing an additional 3,020 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Evertec by 2.4% in the 4th quarter. Principal Financial Group Inc. now owns 310,524 shares of the business services provider's stock valued at $10,722,000 after purchasing an additional 7,342 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Evertec by 43.4% in the 4th quarter. New York State Common Retirement Fund now owns 129,235 shares of the business services provider's stock valued at $4,462,000 after purchasing an additional 39,139 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Evertec by 15.5% in the 4th quarter. Handelsbanken Fonder AB now owns 14,900 shares of the business services provider's stock valued at $514,000 after purchasing an additional 2,000 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Evertec by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 532,340 shares of the business services provider's stock valued at $18,382,000 after purchasing an additional 7,614 shares during the period. Institutional investors own 96.80% of the company's stock.

Insiders Place Their Bets

In related news, EVP Daniel Brignardello sold 7,641 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $36.60, for a total value of $279,660.60. Following the transaction, the executive vice president now owns 31,277 shares in the company, valued at approximately $1,144,738.20. This represents a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ivan Pagan sold 6,852 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now owns 12,473 shares in the company, valued at approximately $457,135.45. The trade was a 35.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,391 shares of company stock valued at $2,662,856. Corporate insiders own 0.63% of the company's stock.

Evertec Stock Up 1.1%

EVTC traded up $0.41 during midday trading on Monday, reaching $36.09. 253,440 shares of the company were exchanged, compared to its average volume of 361,460. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.99 and a current ratio of 1.99. The company's fifty day moving average price is $35.57 and its 200 day moving average price is $34.86. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 18.14 and a beta of 0.99. Evertec, Inc. has a one year low of $28.76 and a one year high of $38.56.

Evertec (NYSE:EVTC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.87 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 38.45% and a net margin of 14.89%. The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. As a group, analysts expect that Evertec, Inc. will post 2.63 EPS for the current year.

Evertec Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Tuesday, May 13th. Evertec's dividend payout ratio is currently 10.05%.

Analyst Upgrades and Downgrades

EVTC has been the topic of a number of recent analyst reports. Susquehanna set a $39.00 price objective on Evertec and gave the company a "neutral" rating in a research note on Tuesday, May 20th. William Blair reissued an "outperform" rating on shares of Evertec in a research note on Thursday, February 27th. Keefe, Bruyette & Woods boosted their price objective on Evertec from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Raymond James Financial boosted their price objective on Evertec from $39.00 to $42.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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.