North Star Asset Management Inc. Raises Holdings in EVERTEC, Inc. (NYSE:EVTC)

North Star Asset Management Inc. raised its position in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 794,171 shares of the business services provider's stock after buying an additional 27,911 shares during the quarter. EVERTEC comprises about 1.2% of North Star Asset Management Inc.'s holdings, making the stock its 25th largest position. North Star Asset Management Inc. owned about 1.25% of EVERTEC worth $27,423,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC raised its stake in shares of EVERTEC by 4.7% during the 4th quarter. FMR LLC now owns 9,542,103 shares of the business services provider's stock valued at $329,489,000 after purchasing an additional 427,859 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of EVERTEC by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,628,404 shares of the business services provider's stock valued at $56,229,000 after purchasing an additional 32,330 shares during the period. Northern Trust Corp raised its stake in shares of EVERTEC by 0.8% during the 4th quarter. Northern Trust Corp now owns 847,176 shares of the business services provider's stock valued at $29,253,000 after purchasing an additional 7,073 shares during the period. Sei Investments Co. raised its stake in shares of EVERTEC by 13.4% during the 4th quarter. Sei Investments Co. now owns 575,261 shares of the business services provider's stock valued at $19,864,000 after purchasing an additional 67,956 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of EVERTEC by 41.6% during the 4th quarter. Ameriprise Financial Inc. now owns 568,797 shares of the business services provider's stock valued at $19,641,000 after purchasing an additional 166,997 shares during the period. 96.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at EVERTEC

In other news, CEO Morgan M. Schuessler sold 80,000 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $37.45, for a total value of $2,996,000.00. Following the completion of the transaction, the chief executive officer now directly owns 282,172 shares in the company, valued at approximately $10,567,341.40. This represents a 22.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paola Perez-Surillo sold 14,585 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $37.15, for a total value of $541,832.75. Following the sale, the executive vice president now owns 35,203 shares of the company's stock, valued at $1,307,791.45. This represents a 29.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 264,561 shares of company stock worth $9,812,062. 0.63% of the stock is currently owned by corporate insiders.

EVERTEC Price Performance

NYSE EVTC traded up $0.51 during trading on Tuesday, reaching $36.85. The company's stock had a trading volume of 217,195 shares, compared to its average volume of 383,265. The stock has a market capitalization of $2.34 billion, a PE ratio of 28.79, a P/E/G ratio of 1.43 and a beta of 1.02. 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 firm has a fifty day moving average of $35.13 and a 200 day moving average of $34.76. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $38.56.

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

EVERTEC Dividend Announcement

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

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.