Millennium Management LLC Has $873,000 Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Millennium Management LLC cut its stake in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 64.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its holdings in 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 holdings in shares of EVERTEC by 199.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider's stock worth $41,000 after buying an additional 794 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of EVERTEC during the 4th quarter worth $54,000. Blue Trust Inc. raised its holdings in shares of EVERTEC by 55.2% during the 4th quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider's stock worth $73,000 after buying an additional 764 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of EVERTEC by 34.8% during the 4th quarter. KBC Group NV now owns 3,188 shares of the business services provider's stock worth $110,000 after buying an additional 823 shares in the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.

EVERTEC Stock Up 1.2%

Shares of EVERTEC stock opened at $36.77 on Friday. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $38.56. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. The stock's 50-day moving average is $34.99 and its 200 day moving average is $34.82. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 1.43 and a beta of 1.02.

EVERTEC (NYSE:EVTC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the company earned $0.72 earnings per share. The company's quarterly revenue was up 11.4% on a year-over-year basis. Equities research analysts anticipate that EVERTEC, Inc. will post 2.63 EPS for the current year.

EVERTEC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. EVERTEC's dividend payout ratio is presently 10.05%.

Insider Activity

In other news, Director Ivan Pagan sold 6,852 shares of the firm's 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 of the company's stock, valued at $457,135.45. This trade represents a 35.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Miguel Vizcarrondo sold 40,000 shares of EVERTEC stock in a transaction on 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 sale, the executive vice president now directly owns 92,509 shares of the company's stock, valued at $3,371,027.96. This represents a 30.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,391 shares of company stock worth $2,662,856 over the last 90 days. 0.63% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Susquehanna set a $39.00 target price on EVERTEC and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Keefe, Bruyette & Woods upped their target price on EVERTEC from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. William Blair reaffirmed an "outperform" rating on shares of EVERTEC in a report on Thursday, February 27th. Finally, Raymond James upped their target price on EVERTEC from $39.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.

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