Voloridge Investment Management LLC Sells 45,620 Shares of EVERTEC, Inc. (NYSE:EVTC)

Voloridge Investment Management LLC trimmed its position in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 14.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 272,972 shares of the business services provider's stock after selling 45,620 shares during the period. Voloridge Investment Management LLC owned 0.43% of EVERTEC worth $9,426,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EVTC. Canada Pension Plan Investment Board bought a new stake in EVERTEC in the fourth quarter worth $17,416,000. FMR LLC boosted its holdings in EVERTEC by 4.7% in the fourth quarter. FMR LLC now owns 9,542,103 shares of the business services provider's stock worth $329,489,000 after acquiring an additional 427,859 shares in the last quarter. Norges Bank bought a new stake in EVERTEC in the fourth quarter worth $6,568,000. Ameriprise Financial Inc. boosted its holdings in EVERTEC by 41.6% in the fourth quarter. Ameriprise Financial Inc. now owns 568,797 shares of the business services provider's stock worth $19,641,000 after acquiring an additional 166,997 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in EVERTEC in the fourth quarter worth $5,356,000. 96.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Daniel Brignardello sold 7,641 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $36.60, for a total transaction of $279,660.60. Following the completion of the sale, the executive vice president now owns 31,277 shares in the company, valued at approximately $1,144,738.20. This trade represents a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Morgan M. Schuessler sold 80,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was 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 position. 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 quarter. 0.63% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

EVERTEC Stock Performance

EVTC stock traded down $0.40 during trading on Friday, reaching $35.97. The stock had a trading volume of 40,129 shares, compared to its average volume of 380,159. EVERTEC, Inc. has a 52 week low of $28.76 and a 52 week high of $38.56. The stock's 50 day moving average is $35.09 and its two-hundred day moving average is $34.77. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. The firm has a market cap of $2.29 billion, a PE ratio of 28.17, a PEG ratio of 1.43 and a beta of 1.02.

EVERTEC (NYSE:EVTC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.06. The business had revenue of $228.79 million during the quarter, compared to analysts' expectations of $217.97 million. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 earnings per share. As a group, equities 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. Shareholders of record on Tuesday, May 13th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Tuesday, May 13th. EVERTEC's payout ratio is 10.05%.

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.