Clifford Capital Partners LLC Sells 12,185 Shares of EVERTEC, Inc. (NYSE:EVTC)

Clifford Capital Partners LLC reduced its position in EVERTEC, Inc. (NYSE:EVTC) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 447,645 shares of the business services provider’s stock after selling 12,185 shares during the quarter. EVERTEC makes up 3.0% of Clifford Capital Partners LLC’s portfolio, making the stock its 20th largest holding. Clifford Capital Partners LLC owned approximately 0.70% of EVERTEC worth $15,171,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co lifted its holdings in shares of EVERTEC by 1.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 69,385 shares of the business services provider’s stock valued at $2,769,000 after acquiring an additional 979 shares during the period. EMC Capital Management bought a new position in shares of EVERTEC during the first quarter valued at $243,000. Opal Wealth Advisors LLC bought a new position in shares of EVERTEC during the second quarter valued at $28,000. Louisiana State Employees Retirement System lifted its holdings in shares of EVERTEC by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider’s stock valued at $1,077,000 after acquiring an additional 400 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of EVERTEC by 21.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,468 shares of the business services provider’s stock valued at $548,000 after acquiring an additional 2,924 shares during the period. 96.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EVTC has been the subject of a number of analyst reports. Susquehanna cut EVERTEC from a “neutral” rating to a “negative” rating and cut their price objective for the company from $38.00 to $28.00 in a report on Thursday, September 5th. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $33.00 to $35.00 in a report on Thursday, November 21st.

Insider Buying and Selling

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of EVERTEC stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $34.11, for a total value of $1,364,400.00. Following the completion of the sale, the executive vice president now directly owns 129,928 shares in the company, valued at $4,431,844.08. This trade represents a 23.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.83% of the company’s stock.

EVERTEC Stock Performance

EVERTEC stock opened at $35.73 on Wednesday. The stock has a 50-day simple moving average of $33.85 and a 200 day simple moving average of $33.81. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a 12-month low of $28.76 and a 12-month high of $42.21. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 1.67 and a beta of 1.15.

EVERTEC (NYSE:EVTC) last released its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $211.51 million. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. On average, research analysts anticipate that EVERTEC, Inc. will post 2.55 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, October 28th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. EVERTEC’s payout ratio is 15.63%.

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.