Evertec, Inc. (NYSE:EVTC) Director Aldo J. Polak Sells 2,243 Shares

Evertec, Inc. (NYSE:EVTC - Get Free Report) Director Aldo J. Polak sold 2,243 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $35.72, for a total transaction of $80,119.96. Following the completion of the transaction, the director now directly owns 11,946 shares in the company, valued at $426,711.12. This represents a 15.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Evertec Stock Performance

Shares of NYSE:EVTC traded down $0.13 during trading hours on Thursday, hitting $36.17. The stock had a trading volume of 171,344 shares, compared to its average volume of 359,704. The stock's fifty day simple moving average is $35.76 and its 200 day simple moving average is $34.88. Evertec, Inc. has a 1-year low of $28.76 and a 1-year high of $38.56. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 18.18 and a beta of 0.99. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.99 and a current ratio of 1.99.

Evertec (NYSE:EVTC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 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 company had revenue of $228.79 million for the quarter, compared to analyst estimates of $217.97 million. During the same quarter last year, the business earned $0.72 earnings per share. Evertec's revenue was up 11.4% compared to the same quarter last year. Sell-side analysts anticipate that Evertec, Inc. will post 2.63 earnings per share for the current fiscal year.

Evertec Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. Evertec's payout ratio is currently 10.05%.

Institutional Investors Weigh In On Evertec

Several large investors have recently made changes to their positions in EVTC. Quadrant Capital Group LLC increased its stake in shares of Evertec by 4,525.0% in the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock valued at $26,000 after purchasing an additional 724 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Evertec by 199.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider's stock valued at $41,000 after acquiring an additional 794 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Evertec during the fourth quarter valued at approximately $54,000. Blue Trust Inc. increased its stake in shares of Evertec by 39.2% during the first quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock valued at $56,000 after acquiring an additional 429 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of Evertec by 44.7% during the first quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock valued at $62,000 after acquiring an additional 525 shares during the period. Institutional investors and hedge funds own 96.80% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on EVTC. Raymond James Financial raised their target price on shares of Evertec from $39.00 to $42.00 and gave the stock 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. 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. Finally, 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 report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Evertec presently has an average rating of "Moderate Buy" and a consensus target price of $40.00.

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.