Dimensional Fund Advisors LP Cuts Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Dimensional Fund Advisors LP decreased its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,664,713 shares of the business services provider’s stock after selling 14,340 shares during the quarter. Dimensional Fund Advisors LP owned 2.58% of EVERTEC worth $55,352,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of EVTC. Norges Bank purchased a new stake in EVERTEC in the fourth quarter worth approximately $19,626,000. American Century Companies Inc. boosted its stake in EVERTEC by 5.0% in the second quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock worth $145,318,000 after buying an additional 208,183 shares in the last quarter. Victory Capital Management Inc. boosted its stake in EVERTEC by 9.0% in the second quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider’s stock worth $76,421,000 after buying an additional 189,637 shares in the last quarter. F M Investments LLC purchased a new stake in EVERTEC in the second quarter worth approximately $5,672,000. Finally, Sunriver Management LLC boosted its stake in EVERTEC by 22.3% in the fourth quarter. Sunriver Management LLC now owns 827,458 shares of the business services provider’s stock worth $33,876,000 after buying an additional 150,935 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EVTC. Susquehanna lowered EVERTEC from a “neutral” rating to a “negative” rating and cut their target price for the stock from $38.00 to $28.00 in a research note on Thursday, September 5th. Keefe, Bruyette & Woods cut their target price on EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $34.33.

EVERTEC Price Performance

Shares of EVERTEC stock opened at $33.90 on Friday. 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 company has a market cap of $2.18 billion, a PE ratio of 34.24, a P/E/G ratio of 1.66 and a beta of 1.15. The business has a 50 day moving average of $33.44 and a 200 day moving average of $35.05. EVERTEC, Inc. has a 52 week low of $28.76 and a 52 week high of $42.21.

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

EVERTEC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, July 29th were issued a $0.05 dividend. The ex-dividend date was Monday, July 29th. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. EVERTEC’s dividend payout ratio (DPR) is 20.20%.

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.