ProShare Advisors LLC Reduces Stock Position in EVERTEC, Inc. (NYSE:EVTC)

ProShare Advisors LLC lowered its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 23.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,045 shares of the business services provider’s stock after selling 3,118 shares during the period. ProShare Advisors LLC’s holdings in EVERTEC were worth $334,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC raised its holdings in EVERTEC by 22.8% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 16,313 shares of the business services provider’s stock worth $668,000 after purchasing an additional 3,031 shares in the last quarter. Sunriver Management LLC raised its holdings in EVERTEC by 22.3% in the 4th quarter. Sunriver Management LLC now owns 827,458 shares of the business services provider’s stock worth $33,876,000 after purchasing an additional 150,935 shares in the last quarter. Vanguard Group Inc. raised its holdings in EVERTEC by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 7,453,242 shares of the business services provider’s stock worth $305,136,000 after purchasing an additional 68,871 shares in the last quarter. Bridge City Capital LLC raised its holdings in EVERTEC by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 58,286 shares of the business services provider’s stock worth $2,326,000 after purchasing an additional 438 shares in the last quarter. Finally, AlphaMark Advisors LLC raised its holdings in EVERTEC by 15.4% in the 1st quarter. AlphaMark Advisors LLC now owns 7,438 shares of the business services provider’s stock worth $297,000 after purchasing an additional 994 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

EVERTEC Stock Up 0.1 %

Shares of EVERTEC stock opened at $33.82 on Thursday. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.82 and a quick ratio of 1.82. The company has a 50-day moving average of $33.40 and a 200 day moving average of $34.95. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 34.16, a PEG ratio of 1.66 and a beta of 1.15. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year 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. The company had revenue of $211.98 million during the quarter, compared to analyst estimates of $209.40 million. EVERTEC had a net margin of 8.84% and a return on equity of 32.08%. As a group, sell-side analysts anticipate that EVERTEC, Inc. will post 2.53 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, July 29th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend 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 is currently 20.20%.

Insider Buying and Selling at EVERTEC

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s 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 accessible through this link. In other news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the 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 sale, the executive vice president now owns 39,370 shares of the company’s stock, valued at $1,381,887. The sale 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 shares were sold at an average price of $34.11, for a total transaction 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 approximately $4,431,844.08. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price objective 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. Susquehanna lowered shares of EVERTEC from a “neutral” rating to a “negative” rating and decreased their price target for the stock from $38.00 to $28.00 in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.