State Street Corp Has $84.53 Million Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

State Street Corp boosted its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,494,349 shares of the business services provider’s stock after buying an additional 34,410 shares during the quarter. State Street Corp owned approximately 3.92% of EVERTEC worth $84,533,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Bank of Montreal Can lifted its holdings in EVERTEC by 1.1% during the 2nd quarter. Bank of Montreal Can now owns 35,084 shares of the business services provider’s stock worth $1,191,000 after buying an additional 381 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in EVERTEC by 1.3% during the 2nd 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 in the last quarter. nVerses Capital LLC lifted its holdings in EVERTEC by 12.5% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the business services provider’s stock worth $122,000 after buying an additional 400 shares in the last quarter. Arizona State Retirement System lifted 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 worth $609,000 after buying an additional 561 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings in EVERTEC by 2.2% during the 2nd quarter. Blair William & Co. IL now owns 31,918 shares of the business services provider’s stock worth $1,061,000 after buying an additional 679 shares in the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on EVTC. Susquehanna downgraded EVERTEC from a “neutral” rating to a “negative” rating and cut their price target for the company from $38.00 to $28.00 in a research note on Thursday, September 5th. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $33.00 to $35.00 in a research note on Thursday, November 21st.

EVERTEC Stock Performance

EVTC stock opened at $35.19 on Tuesday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a twelve month low of $28.76 and a twelve month high of $42.21. The business’s fifty day moving average is $34.41 and its 200-day moving average is $33.74. The company has a market cap of $2.24 billion, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16.

EVERTEC (NYSE:EVTC) last released its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The business had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $211.51 million. During the same quarter in the prior year, the company earned $0.72 EPS. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. Equities research analysts forecast that EVERTEC, Inc. will post 2.55 EPS for the current year.

EVERTEC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, October 28th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Monday, October 28th. EVERTEC’s dividend payout ratio is currently 15.63%.

Insider Activity at EVERTEC

In other EVERTEC news, EVP Daniel Brignardello sold 3,842 shares of the 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 in the company, valued at approximately $1,169,316. This represents a 10.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $36.08, for a total value of $1,748,184.24. Following the transaction, the chief financial officer now owns 54,998 shares of the company’s stock, valued at approximately $1,984,327.84. This trade represents a 46.84 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate 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.