EVERTEC, Inc. (NYSE:EVTC) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. trimmed its stake in shares of EVERTEC, Inc. (NYSE:EVTC) by 34.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,140 shares of the business services provider’s stock after selling 3,670 shares during the quarter. Everence Capital Management Inc.’s holdings in EVERTEC were worth $247,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. acquired a new stake in shares of EVERTEC during the 2nd quarter valued at approximately $8,143,000. Zacks Investment Management acquired a new stake in shares of EVERTEC during the third quarter worth $1,258,000. Sei Investments Co. raised its holdings in shares of EVERTEC by 7.9% during the second quarter. Sei Investments Co. now owns 480,616 shares of the business services provider’s stock worth $15,981,000 after purchasing an additional 35,118 shares during the period. Algert Global LLC lifted its position in shares of EVERTEC by 1,285.8% in the 3rd quarter. Algert Global LLC now owns 91,341 shares of the business services provider’s stock worth $3,096,000 after buying an additional 84,750 shares during the last quarter. Finally, Bridges Investment Management Inc. acquired a new position in shares of EVERTEC in the 2nd quarter valued at about $280,000. 96.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a report on Wednesday, December 18th. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $33.00 to $35.00 in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.00.

EVERTEC Price Performance

NYSE EVTC opened at $33.62 on Thursday. The company has a 50-day moving average price of $34.83 and a two-hundred day moving average price of $33.84. EVERTEC, Inc. has a 52 week low of $28.76 and a 52 week high of $42.21. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.16. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84.

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

EVERTEC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, October 28th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.59%. The ex-dividend date was Monday, October 28th. EVERTEC’s payout ratio is currently 15.63%.

Insider Activity at EVERTEC

In related news, EVP Daniel Brignardello sold 3,842 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $36.00, for a total transaction of $138,312.00. Following the completion of the transaction, the executive vice president now owns 32,481 shares of the company’s stock, valued at $1,169,316. This trade represents a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Miguel Vizcarrondo sold 8,123 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.09, for a total transaction of $276,913.07. Following the completion of the sale, the executive vice president now owns 113,915 shares in the company, valued at approximately $3,883,362.35. This trade represents a 6.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,308 shares of company stock worth $2,440,112 in the last 90 days. Corporate insiders own 0.83% of the company’s stock.

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.