Teacher Retirement System of Texas Invests $558,000 in Evertec, Inc. (NYSE:EVTC)

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

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC boosted its position in shares of Evertec by 4.7% in the 4th quarter. FMR LLC now owns 9,542,103 shares of the business services provider's stock worth $329,489,000 after purchasing an additional 427,859 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in 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 buying an additional 32,330 shares during the last quarter. Northern Trust Corp grew its position 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 acquiring an additional 7,073 shares during the period. North Star Asset Management Inc. grew its position in shares of Evertec by 3.6% during the 4th quarter. North Star Asset Management Inc. now owns 794,171 shares of the business services provider's stock valued at $27,423,000 after acquiring an additional 27,911 shares during the period. Finally, Sei Investments Co. boosted its holdings in Evertec by 13.4% in the 4th quarter. Sei Investments Co. now owns 575,261 shares of the business services provider's stock worth $19,864,000 after buying an additional 67,956 shares during the period. 96.80% of the stock is owned by institutional investors.

Evertec Stock Performance

Shares of NYSE:EVTC traded down $0.42 on Friday, hitting $33.29. 429,690 shares of the company were exchanged, compared to its average volume of 340,660. The firm has a market capitalization of $2.12 billion, a P/E 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. Evertec, Inc. has a 1-year low of $31.11 and a 1-year high of $38.56. The stock's 50 day moving average price is $36.34 and its 200 day moving average price is $34.99.

Evertec (NYSE:EVTC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.06. The firm had revenue of $228.79 million for the quarter, compared to analyst estimates of $217.97 million. Evertec had a net margin of 14.89% and a return on equity of 38.45%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. Sell-side analysts predict that Evertec, Inc. will post 2.63 EPS for the current year.

Evertec Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 13th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. Evertec's dividend payout ratio is presently 10.05%.

Insider Activity at Evertec

In related news, Director Aldo J. Polak sold 2,243 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $35.72, for a total transaction of $80,119.96. Following the completion of the transaction, the director directly owned 11,946 shares in the company, valued at $426,711.12. The trade was a 15.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ivan Pagan sold 6,852 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $36.65, for a total transaction of $251,125.80. Following the transaction, the director owned 12,473 shares of the company's stock, valued at $457,135.45. This represents a 35.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,634 shares of company stock valued at $2,742,976 over the last ninety days. Corporate insiders own 0.63% of the company's stock.

Wall Street Analyst Weigh In

EVTC has been the subject of several research reports. Raymond James Financial increased their price objective on shares of Evertec from $39.00 to $42.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Susquehanna set a $39.00 price objective on shares of Evertec and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods raised 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Evertec in a report on Thursday. They set a "hold" rating and a $35.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Evertec presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.00.

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.