Nuveen Asset Management LLC Sells 77,135 Shares of EVERTEC, Inc. (NYSE:EVTC)

Nuveen Asset Management LLC cut its holdings in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 28.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 0.31% of EVERTEC worth $6,861,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EVTC. FMR LLC grew 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 acquiring an additional 427,859 shares during the period. Dimensional Fund Advisors LP lifted its holdings in EVERTEC by 2.0% during the fourth 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 in the last quarter. Northern Trust Corp boosted its position in shares of EVERTEC by 0.8% in the fourth quarter. Northern Trust Corp now owns 847,176 shares of the business services provider's stock worth $29,253,000 after purchasing an additional 7,073 shares during the period. Sei Investments Co. increased its stake in shares of EVERTEC by 13.4% in the fourth quarter. Sei Investments Co. now owns 575,261 shares of the business services provider's stock worth $19,864,000 after purchasing an additional 67,956 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position 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.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Susquehanna set a $39.00 target price on shares of EVERTEC and gave the stock a "neutral" rating in a report on Tuesday, May 20th. William Blair restated an "outperform" rating on shares of EVERTEC in a research report on Thursday, February 27th. Raymond James upped their price objective on EVERTEC from $39.00 to $42.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, Keefe, Bruyette & Woods upped their target price on shares of EVERTEC from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $40.00.

Insiders Place Their Bets

In other EVERTEC news, CAO Karla Cruz sold 2,000 shares of EVERTEC stock in a transaction on Friday, March 7th. The shares were sold at an average price of $36.77, for a total transaction of $73,540.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,065 shares of the company's stock, valued at $664,250.05. The trade was a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Morgan M. Schuessler sold 80,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $37.45, for a total transaction of $2,996,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 264,561 shares of company stock valued at $9,812,062 over the last ninety days. 0.63% of the stock is owned by insiders.

EVERTEC Price Performance

Shares of NYSE EVTC traded up $0.49 during midday trading on Tuesday, reaching $36.45. 172,090 shares of the stock traded hands, compared to its average volume of 379,710. The company's 50 day moving average is $35.02 and its 200 day moving average is $34.79. 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 has a market capitalization of $2.32 billion, a PE ratio of 28.48, a P/E/G ratio of 1.43 and a beta of 1.02.

EVERTEC (NYSE:EVTC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.06. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The company had revenue of $228.79 million for the quarter, compared to the consensus estimate of $217.97 million. During the same quarter in the prior year, the firm earned $0.72 earnings per share. EVERTEC's revenue was up 11.4% on a year-over-year basis. On average, equities research analysts anticipate that EVERTEC, Inc. will post 2.63 earnings per share for the current year.

EVERTEC Dividend Announcement

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