Balyasny Asset Management L.P. Makes New Investment in EVERTEC, Inc. (NYSE:EVTC)

Balyasny Asset Management L.P. purchased a new position in shares of EVERTEC, Inc. (NYSE:EVTC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,662 shares of the business services provider’s stock, valued at approximately $955,000.

Other hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its holdings in shares of EVERTEC by 4,525.0% during the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock worth $26,000 after purchasing an additional 724 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of EVERTEC by 199.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock worth $41,000 after purchasing an additional 794 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of EVERTEC by 52.1% during the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock worth $41,000 after purchasing an additional 402 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of EVERTEC during the fourth quarter worth $54,000. Finally, Blue Trust Inc. boosted its holdings in shares of EVERTEC by 55.2% during the fourth quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider’s stock worth $73,000 after purchasing an additional 764 shares during the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Insider Buying and Selling at EVERTEC

In other news, EVP Paola Perez-Surillo sold 14,585 shares of EVERTEC stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $37.15, for a total transaction of $541,832.75. Following the sale, the executive vice president now directly owns 35,203 shares of the company’s stock, valued at approximately $1,307,791.45. The trade was a 29.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Luis A. Rodriguez-Gonzalez sold 18,898 shares of EVERTEC stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $35.69, for a total value of $674,469.62. Following the sale, the executive vice president now directly owns 35,203 shares in the company, valued at approximately $1,256,395.07. The trade was a 34.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 250,068 shares of company stock valued at $9,281,275 over the last three months. 0.63% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Raymond James raised their price objective on EVERTEC from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Keefe, Bruyette & Woods lifted their target price on EVERTEC from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Susquehanna upgraded EVERTEC from a “negative” rating to a “neutral” rating and lifted their target price for the company from $28.00 to $30.00 in a report on Thursday, February 27th. Finally, William Blair reiterated an “outperform” rating on shares of EVERTEC in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, EVERTEC currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.75.

EVERTEC Trading Up 1.1%

NYSE:EVTC opened at $36.90 on Thursday. The business’s 50-day moving average is $34.98 and its two-hundred day moving average is $34.49. 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, Inc. has a 12 month low of $28.76 and a 12 month high of $38.32. The firm has a market capitalization of $2.36 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02.

EVERTEC (NYSE:EVTC) last released its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The company had revenue of $228.79 million for the quarter, compared to analyst estimates of $217.97 million. During the same period last year, the company posted $0.72 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. Research analysts predict that EVERTEC, Inc. will post 2.63 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Tuesday, May 13th. EVERTEC’s dividend payout ratio (DPR) is presently 10.05%.

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.