Insider Selling: EVERTEC, Inc. (NYSE:EVTC) EVP Sells 40,000 Shares of Stock

EVERTEC, Inc. (NYSE:EVTC - Get Free Report) EVP Miguel Vizcarrondo sold 40,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $36.44, for a total value of $1,457,600.00. Following the sale, the executive vice president now owns 92,509 shares of the company's stock, valued at approximately $3,371,027.96. The trade was a 30.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

EVERTEC Trading Up 2.3%

Shares of NYSE EVTC traded up $0.82 during midday trading on Monday, hitting $36.55. The stock had a trading volume of 490,274 shares, compared to its average volume of 383,296. The company's 50-day simple moving average is $35.01 and its 200 day simple moving average is $34.46. The firm has a market cap of $2.34 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $38.32. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97.

EVERTEC (NYSE:EVTC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate 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 company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. Research analysts anticipate that EVERTEC, Inc. will post 2.63 EPS for the current year.

EVERTEC Announces Dividend

The business also recently announced 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Tuesday, May 13th. EVERTEC's dividend payout ratio is currently 10.05%.

Analyst Upgrades and Downgrades

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

Institutional Trading of EVERTEC

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its position 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 during the last quarter. Fifth Third Bancorp grew its position in shares of EVERTEC by 52.1% in the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider's stock valued at $41,000 after purchasing an additional 402 shares during the last quarter. 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 worth $41,000 after purchasing an additional 794 shares during the period. 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 worth $56,000 after purchasing an additional 429 shares during the period. Finally, Johnson Financial Group Inc. bought a new position in shares of EVERTEC during the fourth quarter worth approximately $54,000. Institutional investors and hedge funds own 96.80% of the company's stock.

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.

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