State of New Jersey Common Pension Fund D Decreases Holdings in EVERTEC, Inc. (NYSE:EVTC)

State of New Jersey Common Pension Fund D lowered its position in EVERTEC, Inc. (NYSE:EVTC) by 23.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,032 shares of the business services provider’s stock after selling 16,251 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in EVERTEC were worth $1,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Bleakley Financial Group LLC boosted its stake in shares of EVERTEC by 1.5% in the 1st quarter. Bleakley Financial Group LLC now owns 20,589 shares of the business services provider’s stock valued at $822,000 after purchasing an additional 302 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of EVERTEC by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider’s stock worth $1,077,000 after buying an additional 400 shares during the period. Bridge City Capital LLC lifted its stake in shares of EVERTEC by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 58,286 shares of the business services provider’s stock valued at $2,326,000 after acquiring an additional 438 shares during the last quarter. Arizona State Retirement System boosted its holdings in EVERTEC by 3.2% during the 2nd quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider’s stock valued at $609,000 after acquiring an additional 561 shares during the period. Finally, Rhumbline Advisers boosted its holdings in EVERTEC by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 178,806 shares of the business services provider’s stock valued at $5,945,000 after acquiring an additional 761 shares during the period. 96.80% of the stock is currently owned by institutional investors.

EVERTEC Price Performance

Shares of EVTC stock opened at $33.69 on Wednesday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.92. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 1.63 and a beta of 1.15. The business’s fifty day moving average is $33.52 and its 200 day moving average is $35.10. EVERTEC, Inc. has a twelve month low of $28.76 and a twelve month high of $42.21.

EVERTEC (NYSE:EVTC) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.19. EVERTEC had a net margin of 8.84% and a return on equity of 32.08%. The company had revenue of $211.98 million during the quarter, compared to analyst estimates of $209.40 million. Research analysts expect 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. Stockholders of record on Monday, July 29th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $0.20 annualized dividend and a dividend yield of 0.59%. EVERTEC’s payout ratio is 20.20%.

Insider Transactions at EVERTEC

In related news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 39,370 shares of the company’s stock, valued at approximately $1,381,887. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Miguel Vizcarrondo sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the sale, the executive vice president now owns 129,928 shares in the company, valued at $4,431,844.08. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were 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 approximately $1,381,887. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.