Evertec, Inc. (NYSE:EVTC) Director Sells $80,119.96 in Stock

Evertec, Inc. (NYSE:EVTC) Director Aldo J. Polak sold 2,243 shares of Evertec stock in a transaction on Friday, June 20th. The stock was sold at an average price of $35.72, for a total value of $80,119.96. Following the sale, the director now owns 11,946 shares in the company, valued at $426,711.12. This trade represents a 15.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Evertec Stock Performance

Shares of EVTC traded up $0.41 during mid-day trading on Monday, hitting $36.09. The stock had a trading volume of 253,440 shares, compared to its average volume of 361,460. Evertec, Inc. has a 52 week low of $28.76 and a 52 week high of $38.56. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.99 and a quick ratio of 1.99. The business has a fifty day moving average price of $35.57 and a 200-day moving average price of $34.86. The firm has a market cap of $2.30 billion, a P/E ratio of 18.14 and a beta of 0.99.

Evertec (NYSE:EVTC) last announced its quarterly earnings data 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 company had revenue of $228.79 million during the quarter, compared to analyst estimates of $217.97 million. Evertec had a return on equity of 38.45% and a net margin of 14.89%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. On average, equities research analysts expect that Evertec, Inc. will post 2.63 EPS for the current year.

Evertec Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th were paid a $0.05 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. Evertec’s payout ratio is 10.05%.

Institutional Trading of Evertec

Several hedge funds and other institutional investors have recently modified their holdings of EVTC. Rhumbline Advisers grew its position in shares of Evertec by 1.8% in the fourth quarter. Rhumbline Advisers now owns 174,264 shares of the business services provider’s stock valued at $6,017,000 after purchasing an additional 3,020 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Evertec by 2.4% in the 4th quarter. Principal Financial Group Inc. now owns 310,524 shares of the business services provider’s stock worth $10,722,000 after purchasing an additional 7,342 shares during the period. New York State Common Retirement Fund boosted its stake in Evertec by 43.4% in the 4th quarter. New York State Common Retirement Fund now owns 129,235 shares of the business services provider’s stock worth $4,462,000 after purchasing an additional 39,139 shares during the period. Handelsbanken Fonder AB grew its holdings in Evertec by 15.5% during the 4th quarter. Handelsbanken Fonder AB now owns 14,900 shares of the business services provider’s stock valued at $514,000 after buying an additional 2,000 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Evertec by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 532,340 shares of the business services provider’s stock valued at $18,382,000 after buying an additional 7,614 shares during the period. Institutional investors own 96.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on EVTC. Raymond James Financial raised their target price on Evertec from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Susquehanna set a $39.00 price target on shares of Evertec and gave the company a “neutral” rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods lifted their price objective on shares of Evertec from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Finally, William Blair reiterated an “outperform” rating on shares of Evertec in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Evertec presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

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.