21,141 Shares in Evertec, Inc. (NYSE:EVTC) Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC acquired a new stake in shares of Evertec, Inc. (NYSE:EVTC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,141 shares of the business services provider's stock, valued at approximately $777,000.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Evertec by 4,773.8% during the first quarter. GAMMA Investing LLC now owns 14,524 shares of the business services provider's stock valued at $534,000 after acquiring an additional 14,226 shares in the last quarter. Fifth Third Bancorp raised its holdings in Evertec by 44.7% in the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock worth $62,000 after acquiring an additional 525 shares during the last quarter. New York State Common Retirement Fund lifted its position in 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 acquiring an additional 39,139 shares in the last quarter. Amundi increased its holdings in shares of Evertec by 83.0% in the 4th quarter. Amundi now owns 43,416 shares of the business services provider's stock worth $1,459,000 after purchasing an additional 19,693 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Evertec by 2.4% in the 4th quarter. Principal Financial Group Inc. now owns 310,524 shares of the business services provider's stock worth $10,722,000 after buying an additional 7,342 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors.

Evertec Price Performance

EVTC stock traded up $0.52 during mid-day trading on Tuesday, hitting $36.63. The company had a trading volume of 288,615 shares, compared to its average volume of 361,170. The company has a 50-day moving average price of $35.57 and a 200 day moving average price of $34.86. Evertec, Inc. has a 12-month low of $28.76 and a 12-month high of $38.56. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 18.41 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 posted its earnings results 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 company had revenue of $228.79 million for the quarter, compared to the consensus estimate of $217.97 million. Evertec had a return on equity of 38.45% and a net margin of 14.89%. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. On average, research analysts anticipate 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 issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Tuesday, May 13th. Evertec's dividend payout ratio (DPR) is presently 10.05%.

Insider Buying and Selling

In other news, Director Ivan Pagan sold 6,852 shares of Evertec 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 in the company, valued at approximately $457,135.45. The trade was a 35.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aldo J. Polak sold 2,243 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $35.72, for a total value of $80,119.96. Following the sale, the director now owns 11,946 shares in the company, valued at $426,711.12. The trade was a 15.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,634 shares of company stock worth $2,742,976. Insiders own 0.63% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on EVTC shares. Keefe, Bruyette & Woods increased their target price on Evertec from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Susquehanna set a $39.00 price objective on shares of Evertec and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Raymond James Financial upped their price objective on Evertec from $39.00 to $42.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, William Blair reissued an "outperform" rating on shares of Evertec in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Evertec presently has an average rating of "Moderate Buy" and an average price target of $40.00.

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.