Natixis Advisors LLC Sells 11,075 Shares of Evertec, Inc. (NYSE:EVTC)

Key Points

• Natixis Advisors LLC sold 11,075 shares of Evertec, Inc., reducing its holdings by 1.9% to 567,716 shares, valued at approximately $20.9 million.
• Evertec reported Q2 earnings of $0.89 EPS, exceeding estimates, and achieved revenue of $229.61 million, reflecting an 8.3% increase year-over-year.
• The company announced a quarterly dividend of $0.05 per share, with a dividend yield of 0.6%, payable on September 5th.

Natixis Advisors LLC lessened its holdings in shares of Evertec, Inc. (NYSE:EVTC - Free Report) by 1.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 567,716 shares of the business services provider's stock after selling 11,075 shares during the quarter. Natixis Advisors LLC owned 0.89% of Evertec worth $20,875,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quadrant Capital Group LLC boosted its holdings 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 worth $26,000 after buying an additional 724 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Evertec during the fourth quarter valued at about $54,000. Blue Trust Inc. lifted its holdings in Evertec by 39.2% during the first quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock valued at $56,000 after purchasing an additional 429 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Evertec by 44.7% during the first quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock valued at $62,000 after purchasing an additional 525 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings in Evertec by 19.3% during the first quarter. TD Private Client Wealth LLC now owns 1,855 shares of the business services provider's stock valued at $68,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 96.80% of the company's stock.

Insider Activity

In other news, EVP Luis A. Rodriguez-Gonzalez sold 18,898 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $35.69, for a total transaction of $674,469.62. Following the completion of the sale, the executive vice president owned 35,203 shares of the company's stock, valued at approximately $1,256,395.07. This represents a 34.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the stock in a transaction that occurred 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 directly owned 92,509 shares of the company's stock, valued at approximately $3,371,027.96. This trade represents a 30.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,634 shares of company stock valued at $2,742,976. Corporate insiders own 0.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on EVTC. Raymond James Financial reaffirmed an "outperform" rating and set a $43.00 price objective (up from $42.00) on shares of Evertec in a report on Thursday. Susquehanna set a $39.00 price target on Evertec and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Morgan Stanley decreased their price target on Evertec from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft started coverage on Evertec in a research report on Thursday, July 17th. They set a "hold" rating and a $35.00 price target on the stock. Finally, Keefe, Bruyette & Woods upped their price target on Evertec from $42.00 to $44.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Three 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 company presently has a consensus rating of "Moderate Buy" and an average target price of $39.00.

Evertec Price Performance

Shares of EVTC stock traded up $0.04 during trading on Monday, hitting $34.79. The company had a trading volume of 283,302 shares, compared to its average volume of 393,768. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 1.80 and a beta of 0.96. The stock's 50-day moving average is $35.56 and its two-hundred day moving average is $35.04. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.49. Evertec, Inc. has a 52 week low of $31.11 and a 52 week high of $38.56.

Evertec (NYSE:EVTC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.03. The business had revenue of $229.61 million during the quarter, compared to analyst estimates of $222.23 million. Evertec had a return on equity of 36.67% and a net margin of 15.56%. Evertec's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share. As a group, analysts predict that Evertec, Inc. will post 2.63 EPS for the current fiscal year.

Evertec Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Monday, August 4th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, August 4th. Evertec's dividend payout ratio is 9.43%.

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.