Mitsubishi UFJ Asset Management UK Ltd. Buys 20,000 Shares of EVERTEC, Inc. (NYSE:EVTC)

Mitsubishi UFJ Asset Management UK Ltd. raised its stake in shares of EVERTEC, Inc. (NYSE:EVTC) by 100.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 40,000 shares of the business services provider’s stock after purchasing an additional 20,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in EVERTEC were worth $1,381,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new position in shares of EVERTEC in the third quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of EVERTEC in the third quarter worth about $55,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of EVERTEC by 866.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock worth $81,000 after acquiring an additional 2,175 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of EVERTEC by 90.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock worth $104,000 after acquiring an additional 1,490 shares during the period. Finally, nVerses Capital LLC lifted its position in shares of EVERTEC by 12.5% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the business services provider’s stock worth $122,000 after buying an additional 400 shares in the last quarter. Institutional investors own 96.80% of the company’s stock.

Analysts Set New Price Targets

EVTC has been the topic of a number of recent research reports. William Blair restated an “outperform” rating on shares of EVERTEC in a research report on Wednesday, December 18th. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $33.00 to $35.00 in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.00.

EVERTEC Stock Down 0.4 %

Shares of NYSE EVTC opened at $32.49 on Wednesday. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $2.07 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 1.40 and a beta of 1.16. The stock’s fifty day simple moving average is $34.64 and its two-hundred day simple moving average is $33.81. EVERTEC, Inc. has a 12-month low of $28.76 and a 12-month high of $42.21.

EVERTEC (NYSE:EVTC) last issued its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The company had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $211.51 million. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s revenue was up 22.3% compared to the same quarter last year. As a group, analysts expect that EVERTEC, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 54,998 shares of the company’s stock, valued at $1,984,327.84. This represents a 46.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Brignardello sold 3,842 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $36.00, for a total transaction of $138,312.00. Following the completion of the sale, the executive vice president now directly owns 32,481 shares in the company, valued at $1,169,316. This trade represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,308 shares of company stock worth $2,440,112. 0.83% of the stock is owned by company insiders.

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.