EVERTEC, Inc. (NYSE:EVTC) Stock Holdings Lessened by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lessened its stake in shares of EVERTEC, Inc. (NYSE:EVTC) by 6.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,514,935 shares of the business services provider’s stock after selling 240,188 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 5.46% of EVERTEC worth $116,872,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EVTC. Vanguard Group Inc. increased its position in shares of EVERTEC by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 7,453,242 shares of the business services provider’s stock worth $305,136,000 after acquiring an additional 68,871 shares in the last quarter. American Century Companies Inc. grew its position in EVERTEC by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock worth $145,318,000 after purchasing an additional 208,183 shares in the last quarter. Capital International Investors grew its position in EVERTEC by 0.3% during the 1st quarter. Capital International Investors now owns 3,141,051 shares of the business services provider’s stock worth $125,328,000 after purchasing an additional 9,110 shares in the last quarter. Victory Capital Management Inc. raised its stake in EVERTEC by 9.0% during the 2nd quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider’s stock valued at $76,421,000 after purchasing an additional 189,637 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of EVERTEC by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,668,011 shares of the business services provider’s stock valued at $68,289,000 after purchasing an additional 12,575 shares in the last quarter. 96.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on EVTC shares. Keefe, Bruyette & Woods lowered their price target on EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Susquehanna cut EVERTEC from a “neutral” rating to a “negative” rating and lowered their target price for the company from $38.00 to $28.00 in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $34.33.

EVERTEC Price Performance

EVTC opened at $33.03 on Friday. The stock has a fifty day moving average price of $33.52 and a 200 day moving average price of $35.18. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.92. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $42.21. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 1.63 and a beta of 1.15.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.19. The business had revenue of $211.98 million during the quarter, compared to analyst estimates of $209.40 million. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. Analysts forecast that EVERTEC, Inc. will post 2.53 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, July 29th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date was Monday, July 29th. EVERTEC’s dividend payout ratio is 20.20%.

Insider Transactions at EVERTEC

In related news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $35.10, for a total value of $1,263,600.00. Following the completion of the sale, the executive vice president now directly owns 39,370 shares in the company, valued at $1,381,887. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Miguel Vizcarrondo sold 40,000 shares of EVERTEC stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $34.11, for a total value of $1,364,400.00. Following the transaction, the executive vice president now owns 129,928 shares of the company’s stock, valued at $4,431,844.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $35.10, for a total transaction of $1,263,600.00. Following the sale, the executive vice president now directly owns 39,370 shares of the company’s stock, valued at $1,381,887. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.

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.