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

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

Other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC raised its stake in shares of Evertec by 4,525.0% in the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock valued at $26,000 after acquiring an additional 724 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Evertec by 199.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider's stock valued at $41,000 after acquiring an additional 794 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Evertec in the 4th quarter valued at approximately $54,000. Bridgefront Capital LLC bought a new position in shares of Evertec in the 4th quarter valued at approximately $206,000. Finally, Cibc World Markets Corp bought a new position in shares of Evertec in the 4th quarter valued at approximately $208,000. 96.80% of the stock is owned by institutional investors.

Evertec Stock Performance

EVTC traded down $0.37 during midday trading on Friday, reaching $35.61. The company's stock had a trading volume of 670,802 shares, compared to its average volume of 361,894. The stock has a market cap of $2.27 billion, a P/E ratio of 17.89 and a beta of 0.99. The company has a fifty day simple moving average of $35.52 and a 200 day simple moving average of $34.86. 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, Inc. has a twelve month low of $28.76 and a twelve month high of $38.56.

Evertec (NYSE:EVTC - Get Free Report) last announced its quarterly earnings data 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 return on equity of 38.45% and a net margin of 14.89%. The company had revenue of $228.79 million for the quarter, compared to analyst estimates of $217.97 million. During the same quarter last year, the firm earned $0.72 EPS. Evertec's revenue for the quarter 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 company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Tuesday, May 13th. Evertec's payout ratio is presently 10.05%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EVTC. 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 reaffirmed an "outperform" rating on shares of Evertec in a report on Thursday, February 27th. Raymond James Financial raised their target price on Evertec from $39.00 to $42.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, Keefe, Bruyette & Woods raised 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $40.00.

Insider Transactions at Evertec

In related news, EVP Daniel Brignardello sold 7,641 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 31,277 shares of the company's stock, valued at $1,144,738.20. The trade was a 19.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ivan Pagan sold 6,852 shares of the business's stock in a transaction 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 sale, the director now directly owns 12,473 shares in the company, valued at approximately $457,135.45. This represents a 35.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,391 shares of company stock valued at $2,662,856. 0.63% of the stock is owned by corporate insiders.

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.