EVERTEC, Inc. (NYSE:EVTC) EVP Sells $1,457,600.00 in Stock

EVERTEC, Inc. (NYSE:EVTC - Get Free Report) EVP Miguel Vizcarrondo sold 40,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $36.44, for a total value of $1,457,600.00. Following the transaction, the executive vice president now directly owns 92,509 shares in the company, valued at approximately $3,371,027.96. The trade was a 30.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

EVERTEC Stock Performance

Shares of NYSE EVTC traded up $0.48 during midday trading on Friday, reaching $37.75. 425,362 shares of the company were exchanged, compared to its average volume of 385,753. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $38.32. The stock has a fifty day simple moving average of $35.02 and a 200 day simple moving average of $34.58. The stock has a market cap of $2.40 billion, a P/E ratio of 29.49, a PEG ratio of 1.43 and a beta of 1.02.

EVERTEC (NYSE:EVTC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping 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 return on equity of 33.01% and a net margin of 10.20%. The business's revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. On average, research analysts forecast that EVERTEC, Inc. will post 2.63 earnings per share for the current fiscal year.

EVERTEC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be given a $0.05 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. EVERTEC's payout ratio is currently 10.05%.

Institutional Investors Weigh In On EVERTEC

A number of hedge funds have recently added to or reduced their stakes in EVTC. Barclays PLC lifted its position in EVERTEC by 385.6% in the third quarter. Barclays PLC now owns 115,398 shares of the business services provider's stock valued at $3,910,000 after purchasing an additional 91,632 shares during the period. JPMorgan Chase & Co. lifted its position in EVERTEC by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider's stock valued at $11,447,000 after purchasing an additional 33,462 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. lifted its position in EVERTEC by 100.0% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 40,000 shares of the business services provider's stock valued at $1,381,000 after purchasing an additional 20,000 shares during the period. SG Americas Securities LLC lifted its position in EVERTEC by 10.2% in the fourth quarter. SG Americas Securities LLC now owns 30,269 shares of the business services provider's stock valued at $1,045,000 after purchasing an additional 2,790 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of EVERTEC by 52.1% during the 4th quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider's stock valued at $41,000 after acquiring an additional 402 shares during the period. Institutional investors and hedge funds own 96.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on EVTC. Susquehanna raised EVERTEC from a "negative" rating to a "neutral" rating and raised their price objective for the stock from $28.00 to $30.00 in a report on Thursday, February 27th. Keefe, Bruyette & Woods raised their price objective on EVERTEC from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Raymond James raised their price target on EVERTEC from $39.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, William Blair reissued an "outperform" rating on shares of EVERTEC in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $37.75.

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.