Nuveen Asset Management LLC Reduces Holdings in EVERTEC, Inc. (NYSE:EVTC)

Nuveen Asset Management LLC lessened its position in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 28.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 198,706 shares of the business services provider's stock after selling 77,135 shares during the period. Nuveen Asset Management LLC owned approximately 0.31% of EVERTEC worth $6,861,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its holdings in shares of 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 purchasing an additional 724 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of EVERTEC by 52.1% in the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider's stock valued at $41,000 after purchasing an additional 402 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in EVERTEC by 199.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider's stock worth $41,000 after acquiring an additional 794 shares during the period. Johnson Financial Group Inc. bought a new stake in EVERTEC during the fourth quarter worth $54,000. Finally, Blue Trust Inc. lifted its holdings in EVERTEC by 55.2% during the fourth quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider's stock worth $73,000 after acquiring an additional 764 shares during the period. Institutional investors and hedge funds own 96.80% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, EVP Luis A. Rodriguez-Gonzalez sold 18,898 shares of the stock in a transaction dated 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 now directly owns 35,203 shares in the company, valued at $1,256,395.07. This represents a 34.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Morgan M. Schuessler sold 80,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $37.45, for a total value of $2,996,000.00. Following the sale, the chief executive officer now owns 282,172 shares of the company's stock, valued at $10,567,341.40. This represents a 22.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 264,561 shares of company stock worth $9,812,062 over the last ninety days. 0.63% of the stock is owned by corporate insiders.

EVERTEC Stock Performance

Shares of EVTC traded down $0.13 during mid-day trading on Friday, hitting $36.24. The stock had a trading volume of 326,001 shares, compared to its average volume of 381,420. The firm has a market cap of $2.31 billion, a P/E ratio of 28.31, a PEG ratio of 1.43 and a beta of 1.02. EVERTEC, Inc. has a 52 week low of $28.76 and a 52 week 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 business has a fifty day moving average price of $35.06 and a 200-day moving average price of $34.77.

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 for the quarter, beating 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 company had revenue of $228.79 million during the quarter, compared to analysts' expectations of $217.97 million. During the same period in the previous year, the business earned $0.72 earnings per share. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts expect that EVERTEC, Inc. will post 2.63 EPS for the current year.

EVERTEC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date is Tuesday, May 13th. EVERTEC's payout ratio is 10.05%.

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.