Evertec, Inc. (NYSE:EVTC) Stake Cut by SG Americas Securities LLC

SG Americas Securities LLC reduced its holdings in Evertec, Inc. (NYSE:EVTC - Free Report) by 25.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its position in Evertec by 4,525.0% in the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock worth $26,000 after purchasing an additional 724 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Evertec by 199.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider's stock worth $41,000 after acquiring an additional 794 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Evertec during the 4th quarter worth about $54,000. Bridgefront Capital LLC bought a new stake in shares of Evertec during the 4th quarter worth about $206,000. Finally, Cibc World Markets Corp bought a new stake in shares of Evertec during the 4th quarter worth about $208,000. 96.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Evertec

In other Evertec news, Director Ivan Pagan sold 6,852 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was 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 of the company's stock, valued at $457,135.45. This represents a 35.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Luis A. Rodriguez-Gonzalez sold 18,898 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $35.69, for a total value of $674,469.62. Following the completion of the transaction, the executive vice president now directly owns 35,203 shares of the company's stock, valued at approximately $1,256,395.07. This trade represents a 34.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,391 shares of company stock valued at $2,662,856 in the last quarter. Corporate insiders own 0.63% of the company's stock.

Evertec Price Performance

Shares of NYSE:EVTC opened at $35.96 on Friday. The business has a 50 day moving average price of $35.47 and a 200 day moving average price of $34.86. Evertec, Inc. has a twelve month low of $28.76 and a twelve month high of $38.56. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 18.07 and a beta of 0.99. 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 (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, beating the consensus estimate of $0.81 by $0.06. Evertec had a return on equity of 38.45% and a net margin of 14.89%. The firm had revenue of $228.79 million during the quarter, compared to the consensus estimate of $217.97 million. During the same quarter in the prior year, the company earned $0.72 EPS. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts predict that Evertec, Inc. will post 2.63 earnings per share for the current year.

Evertec Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 13th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 13th. This represents a $0.20 annualized dividend and a yield of 0.56%. Evertec's payout ratio is 10.05%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EVTC. William Blair reiterated an "outperform" rating on shares of Evertec in a research note on Thursday, February 27th. Raymond James Financial upped their price target 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 price target on Evertec and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods upped their price target on Evertec from $42.00 to $44.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Two 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.00.

Evertec 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.

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