River Road Asset Management LLC Sells 136,015 Shares of EVERTEC, Inc. (NYSE:EVTC)

River Road Asset Management LLC trimmed its stake in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,069,066 shares of the business services provider's stock after selling 136,015 shares during the quarter. EVERTEC makes up about 1.2% of River Road Asset Management LLC's portfolio, making the stock its 26th biggest holding. River Road Asset Management LLC owned 3.20% of EVERTEC worth $84,708,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Ronald Blue Trust Inc. grew its stake in EVERTEC by 314.9% in the third quarter. Ronald Blue Trust Inc. now owns 1,000 shares of the business services provider's stock valued at $37,000 after purchasing an additional 759 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in EVERTEC by 274.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,132 shares of the business services provider's stock valued at $38,000 after purchasing an additional 830 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of EVERTEC in the third quarter valued at approximately $49,000. FMR LLC lifted its position in shares of EVERTEC by 36.1% in the first quarter. FMR LLC now owns 1,838 shares of the business services provider's stock valued at $62,000 after buying an additional 488 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in shares of EVERTEC in the first quarter valued at approximately $154,000. 96.80% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Frank G. D'angelo sold 16,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $37.43, for a total value of $598,880.00. Following the completion of the sale, the director now owns 10,380 shares of the company's stock, valued at $388,523.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Morgan M. Schuessler sold 100,000 shares of the company's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the sale, the chief executive officer now owns 347,941 shares in the company, valued at approximately $12,939,925.79. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank G. D'angelo sold 16,000 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $37.43, for a total value of $598,880.00. Following the sale, the director now owns 10,380 shares in the company, valued at approximately $388,523.40. The disclosure for this sale can be found here. Insiders own 0.44% of the company's stock.

EVERTEC Stock Performance

NYSE:EVTC traded up $0.19 during mid-day trading on Wednesday, hitting $37.11. 297,009 shares of the stock were exchanged, compared to its average volume of 321,188. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 2.21 and a beta of 1.20. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.88 and a current ratio of 1.88. The firm's 50-day simple moving average is $38.92 and its 200 day simple moving average is $38.15. EVERTEC, Inc. has a fifty-two week low of $31.55 and a fifty-two week high of $42.21.

EVERTEC (NYSE:EVTC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). EVERTEC had a net margin of 11.48% and a return on equity of 29.73%. The business had revenue of $194.62 million during the quarter, compared to the consensus estimate of $179.86 million. As a group, equities analysts anticipate that EVERTEC, Inc. will post 2.33 EPS for the current fiscal year.

EVERTEC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. EVERTEC's payout ratio is 16.53%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EVTC shares. StockNews.com cut EVERTEC from a "buy" rating to a "hold" rating in a research report on Thursday, February 29th. Morgan Stanley raised their price objective on EVERTEC from $32.00 to $33.00 and gave the company an "underweight" rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $41.33.

EVERTEC 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.