Teacher Retirement System of Texas Acquires New Holdings in Evertec, Inc. (NYSE:EVTC)

Teacher Retirement System of Texas purchased a new position in shares of Evertec, Inc. (NYSE:EVTC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,184 shares of the business services provider's stock, valued at approximately $558,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Evertec during the fourth quarter worth approximately $5,356,000. Amundi grew its holdings in Evertec by 83.0% during the 4th quarter. Amundi now owns 43,416 shares of the business services provider's stock worth $1,459,000 after acquiring an additional 19,693 shares during the period. Corient Private Wealth LLC grew its holdings in Evertec by 2.4% during the 4th quarter. Corient Private Wealth LLC now owns 39,893 shares of the business services provider's stock worth $1,378,000 after acquiring an additional 933 shares during the period. Cibc World Markets Corp bought a new position in shares of Evertec during the fourth quarter worth $208,000. Finally, Intech Investment Management LLC boosted its position in shares of Evertec by 589.5% during the fourth quarter. Intech Investment Management LLC now owns 125,559 shares of the business services provider's stock worth $4,336,000 after purchasing an additional 107,349 shares in the last quarter. Institutional investors own 96.80% of the company's stock.

Insiders Place Their Bets

In related news, Director Ivan Pagan sold 6,852 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $36.65, for a total transaction of $251,125.80. Following the completion of the sale, the director directly owned 12,473 shares of the company's stock, valued at approximately $457,135.45. This trade represents a 35.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Miguel Vizcarrondo sold 40,000 shares of Evertec stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $36.44, for a total transaction of $1,457,600.00. Following the completion of the sale, the executive vice president directly owned 92,509 shares in the company, valued at approximately $3,371,027.96. This represents a 30.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 75,634 shares of company stock valued at $2,742,976. 0.63% of the stock is currently owned by corporate insiders.

Evertec Price Performance

NYSE:EVTC traded down $0.42 on Friday, hitting $33.29. The company had a trading volume of 460,093 shares, compared to its average volume of 339,032. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 16.73 and a beta of 0.98. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.69. The firm has a 50 day moving average of $36.30 and a two-hundred day moving average of $34.98. 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 released its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. Evertec had a net margin of 14.89% and a return on equity of 38.45%. The firm had revenue of $228.79 million during the quarter, compared to the consensus estimate of $217.97 million. During the same quarter last year, the firm earned $0.72 earnings per share. The company's revenue for the quarter was up 11.4% on a year-over-year basis. On average, 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 was paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Tuesday, May 13th. Evertec's payout ratio is 10.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EVTC shares. Raymond James Financial boosted their price objective on shares of Evertec from $39.00 to $42.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Evertec in a report on Thursday. They issued a "hold" rating and a $35.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on shares of Evertec from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, Susquehanna set a $39.00 price target on shares of Evertec and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.00.

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.