Vident Advisory LLC Invests $260,000 in EVERTEC, Inc. (NYSE:EVTC)

Vident Advisory LLC acquired a new position in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,531 shares of the business services provider's stock, valued at approximately $260,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew 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 valued at $329,489,000 after purchasing an additional 427,859 shares during the period. Dimensional Fund Advisors LP grew its position in shares of EVERTEC by 2.0% in 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 grew its position in shares of EVERTEC by 0.8% in 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. grew its position in shares of EVERTEC by 13.4% in 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. grew its position in shares of EVERTEC by 41.6% in 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 owned by institutional investors.

Wall Street Analysts Forecast Growth

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

EVERTEC Price Performance

Shares of NYSE EVTC traded up $0.49 during mid-day trading on Tuesday, reaching $36.45. The company had a trading volume of 172,090 shares, compared to its average volume of 379,710. 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 quick ratio of 1.97 and a current ratio of 1.97. The business's 50-day simple moving average is $35.02 and its 200 day simple moving average is $34.79. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 1.43 and a beta of 1.02.

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 (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The firm had revenue of $228.79 million during the quarter, compared to analysts' expectations of $217.97 million. During the same period in the prior year, the company posted $0.72 EPS. The company's revenue was up 11.4% on a year-over-year basis. On average, research analysts predict that EVERTEC, Inc. will post 2.63 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Tuesday, May 13th. EVERTEC's dividend payout ratio (DPR) is presently 10.05%.

Insider Buying and Selling at EVERTEC

In other news, CEO Morgan M. Schuessler sold 80,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $37.45, for a total transaction of $2,996,000.00. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Paola Perez-Surillo sold 14,585 shares of the company's stock in a transaction on Friday, March 7th. The stock was 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 trade represents a 29.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 264,561 shares of company stock valued at $9,812,062. 0.63% of the stock is currently owned by company insiders.

About EVERTEC

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.