Harbor Capital Advisors Inc. Buys Shares of 22,370 EVERTEC, Inc. (NYSE:EVTC)

Harbor Capital Advisors Inc. bought a new stake in EVERTEC, Inc. (NYSE:EVTC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 22,370 shares of the business services provider's stock, valued at approximately $823,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its holdings in EVERTEC by 4,525.0% in the fourth 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 during the last quarter. Smartleaf Asset Management LLC boosted its holdings in EVERTEC by 199.0% in the fourth 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 during the last quarter. Johnson Financial Group Inc. acquired a new position in EVERTEC in the fourth quarter valued at $54,000. Bridgefront Capital LLC acquired a new position in EVERTEC in the fourth quarter valued at $206,000. Finally, Cibc World Markets Corp acquired a new position in EVERTEC in the fourth quarter valued at $208,000. Institutional investors and hedge funds own 96.80% of the company's stock.

EVERTEC Stock Down 3.6%

NYSE:EVTC traded down $1.34 during mid-day trading on Friday, hitting $35.81. The company had a trading volume of 209,174 shares, compared to its average volume of 365,635. The business has a fifty day simple moving average of $35.27 and a 200-day simple moving average of $34.85. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $38.56. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.43 and a beta of 0.99.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.06. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The business had revenue of $228.79 million for the quarter, compared to analyst estimates of $217.97 million. During the same period in the previous year, the company earned $0.72 earnings per share. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts forecast that EVERTEC, Inc. will post 2.63 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. William Blair reiterated an "outperform" rating on shares of EVERTEC in a report on Thursday, February 27th. Raymond James raised their price objective on EVERTEC from $39.00 to $42.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Keefe, Bruyette & Woods raised their price objective on EVERTEC from $42.00 to $44.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, Susquehanna set a $39.00 price objective on EVERTEC and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $40.00.

Insider Transactions at EVERTEC

In related news, 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 completion of the sale, the executive vice president now directly owns 35,203 shares of the company's stock, valued at $1,256,395.07. The trade was a 34.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $36.44, for a total value of $1,457,600.00. Following the completion of the sale, the executive vice president now directly owns 92,509 shares of the company's stock, valued at approximately $3,371,027.96. This represents a 30.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,391 shares of company stock valued at $2,662,856. 0.63% of the stock is currently owned by insiders.

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.