Insider Selling: EVERTEC, Inc. (NYSE:EVTC) CFO Sells 48,453 Shares of Stock

EVERTEC, Inc. (NYSE:EVTC) CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $36.08, for a total value of $1,748,184.24. Following the completion of the transaction, the chief financial officer now owns 54,998 shares in the company, valued at $1,984,327.84. This trade represents a 46.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

EVERTEC Price Performance

Shares of NYSE:EVTC opened at $35.78 on Thursday. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $42.21. The business has a 50-day moving average of $34.14 and a two-hundred day moving average of $33.76. The stock has a market capitalization of $2.28 billion, a P/E ratio of 27.95, a P/E/G ratio of 1.61 and a beta of 1.16. 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) last posted its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. On average, equities research analysts predict that EVERTEC, Inc. will post 2.55 EPS for the current fiscal year.

EVERTEC Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on EVTC shares. Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $33.00 to $35.00 in a research note on Thursday, November 21st. Susquehanna cut EVERTEC from a “neutral” rating to a “negative” rating and reduced their price target for the stock from $38.00 to $28.00 in a research report on Thursday, September 5th.

Institutional Trading of EVERTEC

A number of hedge funds have recently bought and sold shares of EVTC. FMR LLC increased its holdings in shares of EVERTEC by 36.6% during the 3rd quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock worth $308,882,000 after purchasing an additional 2,440,680 shares during the period. American Century Companies Inc. raised its position in shares of EVERTEC by 5.0% during the second quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock valued at $145,318,000 after buying an additional 208,183 shares during the last quarter. State Street Corp raised its position in shares of EVERTEC by 1.4% during the third quarter. State Street Corp now owns 2,494,349 shares of the business services provider’s stock valued at $84,533,000 after buying an additional 34,410 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of EVERTEC by 9.0% during the second quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider’s stock valued at $76,421,000 after buying an additional 189,637 shares during the last quarter. Finally, River Road Asset Management LLC raised its position in shares of EVERTEC by 0.3% during the third quarter. River Road Asset Management LLC now owns 1,966,626 shares of the business services provider’s stock valued at $66,649,000 after buying an additional 5,899 shares during the last quarter. 96.80% of the stock is owned by institutional investors.

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.