Millennium Management LLC Trims Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Millennium Management LLC cut its stake in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 64.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 25,283 shares of the business services provider's stock after selling 45,073 shares during the period. Millennium Management LLC's holdings in EVERTEC were worth $873,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in EVTC. Summit Investment Advisors Inc. increased its position in EVERTEC by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,747 shares of the business services provider's stock worth $233,000 after purchasing an additional 429 shares during the last quarter. Bridge City Capital LLC raised its stake in shares of EVERTEC by 0.9% in the 4th quarter. Bridge City Capital LLC now owns 68,784 shares of the business services provider's stock valued at $2,375,000 after acquiring an additional 601 shares during the period. Cetera Investment Advisers lifted its holdings in shares of EVERTEC by 6.9% in the 4th 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 last quarter. Quadrant Capital Group LLC boosted its position in shares of EVERTEC by 4,525.0% during 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 period. Finally, Blue Trust Inc. raised its position in EVERTEC by 55.2% in the fourth quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider's stock valued at $73,000 after purchasing an additional 764 shares during the period. 96.80% of the stock is currently owned by institutional investors and hedge funds.

EVERTEC Stock Up 1.3%

EVTC stock traded up $0.47 during mid-day trading on Tuesday, reaching $37.49. The company had a trading volume of 234,952 shares, compared to its average volume of 369,199. The firm has a fifty day simple moving average of $35.03 and a 200 day simple moving average of $34.83. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 1.43 and a beta of 0.99. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week 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 for the quarter, beating the consensus estimate of $0.81 by $0.06. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The firm had revenue of $228.79 million for the quarter, compared to analysts' expectations of $217.97 million. During the same quarter last year, the company earned $0.72 earnings per share. The firm's revenue was up 11.4% compared to the same quarter last year. 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. Investors of record on Tuesday, May 13th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Tuesday, May 13th. EVERTEC's dividend payout ratio (DPR) is presently 10.05%.

Insider Buying and Selling at EVERTEC

In related news, EVP Daniel Brignardello sold 7,641 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $36.60, for a total value of $279,660.60. Following the transaction, the executive vice president now directly owns 31,277 shares of the company's stock, valued at $1,144,738.20. This trade represents a 19.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $36.44, for a total transaction 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 trade represents a 30.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,391 shares of company stock worth $2,662,856 over the last ninety days. Corporate insiders own 0.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EVTC. Raymond James raised their price target on EVERTEC from $39.00 to $42.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. William Blair reaffirmed an "outperform" rating on shares of EVERTEC in a research report on Thursday, February 27th. Keefe, Bruyette & Woods raised their price objective on shares of EVERTEC from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Susquehanna set a $39.00 price objective on shares of EVERTEC and gave the company a "neutral" rating in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.