Insider Selling: Evertec, Inc. (NYSE:EVTC) Director Sells 2,243 Shares of Stock

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

Evertec Stock Up 1.1%

Evertec stock traded up $0.41 during mid-day trading on Monday, reaching $36.09. The stock had a trading volume of 253,440 shares, compared to its average volume of 361,460. The firm has a market capitalization of $2.30 billion, a PE ratio of 18.14 and a beta of 0.99. Evertec, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $38.56. The stock's 50-day simple moving average is $35.57 and its 200-day simple moving average is $34.86. 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 posted 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. The business had revenue of $228.79 million during the quarter, compared to the consensus estimate of $217.97 million. Evertec had a net margin of 14.89% and a return on equity of 38.45%. Evertec's revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS. On average, sell-side analysts forecast that Evertec, Inc. will post 2.63 EPS for the current fiscal year.

Evertec Announces Dividend

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

Institutional Investors Weigh In On Evertec

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC grew its holdings in Evertec by 4,525.0% during the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock worth $26,000 after buying an additional 724 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Evertec by 199.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider's stock worth $41,000 after acquiring an additional 794 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Evertec during the 4th quarter worth $54,000. Blue Trust Inc. boosted its holdings in Evertec by 39.2% during the first quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock worth $56,000 after purchasing an additional 429 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in Evertec by 44.7% in the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock worth $62,000 after purchasing an additional 525 shares in the last quarter. 96.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.

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