GAMMA Investing LLC Buys 14,226 Shares of Evertec, Inc. (NYSE:EVTC)

GAMMA Investing LLC grew its stake in Evertec, Inc. (NYSE:EVTC - Free Report) by 4,773.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,524 shares of the business services provider's stock after purchasing an additional 14,226 shares during the quarter. GAMMA Investing LLC's holdings in Evertec were worth $534,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. New York State Common Retirement Fund lifted its holdings in Evertec by 43.4% during the fourth quarter. New York State Common Retirement Fund now owns 129,235 shares of the business services provider's stock worth $4,462,000 after acquiring an additional 39,139 shares during the period. Amundi lifted its holdings in Evertec by 83.0% during the fourth quarter. Amundi now owns 43,416 shares of the business services provider's stock worth $1,459,000 after acquiring an additional 19,693 shares during the period. Principal Financial Group Inc. lifted its holdings in Evertec by 2.4% during the fourth quarter. Principal Financial Group Inc. now owns 310,524 shares of the business services provider's stock worth $10,722,000 after acquiring an additional 7,342 shares during the period. Rhumbline Advisers lifted its holdings in Evertec by 1.8% during the fourth quarter. Rhumbline Advisers now owns 174,264 shares of the business services provider's stock worth $6,017,000 after acquiring an additional 3,020 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in Evertec by 6.9% during the fourth quarter. Cetera Investment Advisers now owns 10,645 shares of the business services provider's stock worth $368,000 after acquiring an additional 690 shares during the period. Institutional investors own 96.80% of the company's stock.

Insider Activity

In other news, Director Ivan Pagan sold 6,852 shares of Evertec stock in a transaction 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 directly owns 12,473 shares in the company, valued at approximately $457,135.45. The trade was a 35.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Luis A. Rodriguez-Gonzalez sold 18,898 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $35.69, for a total value of $674,469.62. Following the transaction, the executive vice president now owns 35,203 shares of the company's stock, valued at approximately $1,256,395.07. The trade was a 34.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,391 shares of company stock worth $2,662,856. 0.63% of the stock is owned by corporate insiders.

Evertec Stock Performance

Shares of EVTC opened at $35.96 on Thursday. The firm has a market cap of $2.29 billion, a PE ratio of 18.07 and a beta of 0.99. The stock's fifty day moving average price is $35.42 and its two-hundred day moving average price is $34.86. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.99 and a quick ratio of 1.99. Evertec, Inc. has a 1 year low of $28.76 and a 1 year high of $38.56.

Evertec (NYSE:EVTC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. The firm had revenue of $228.79 million for 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 business's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. On average, equities research analysts forecast that Evertec, Inc. will post 2.63 EPS for the current year.

Evertec Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Tuesday, May 13th. Evertec's dividend payout ratio (DPR) is presently 10.05%.

Wall Street Analyst Weigh In

A number of analysts recently commented on EVTC shares. Susquehanna set a $39.00 price target on Evertec and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Raymond James Financial lifted their price target on Evertec from $39.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Keefe, Bruyette & Woods lifted their price target on Evertec from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, William Blair restated 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.com, Evertec presently has a consensus 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.

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