DAVENPORT & Co LLC Reduces Stock Position in EVERTEC, Inc. (NYSE:EVTC)

DAVENPORT & Co LLC trimmed its position in EVERTEC, Inc. (NYSE:EVTC) by 16.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 37,381 shares of the business services provider’s stock after selling 7,170 shares during the period. DAVENPORT & Co LLC’s holdings in EVERTEC were worth $1,291,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. FMR LLC increased its stake in EVERTEC by 36.6% during the third quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock worth $308,882,000 after acquiring an additional 2,440,680 shares during the last quarter. DF Dent & Co. Inc. increased its position in EVERTEC by 27.5% during the 3rd quarter. DF Dent & Co. Inc. now owns 455,454 shares of the business services provider’s stock worth $15,435,000 after purchasing an additional 98,341 shares in the last quarter. Barclays PLC raised its holdings in EVERTEC by 385.6% in the third quarter. Barclays PLC now owns 115,398 shares of the business services provider’s stock valued at $3,910,000 after buying an additional 91,632 shares during the period. Algert Global LLC lifted its position in EVERTEC by 1,285.8% during the third quarter. Algert Global LLC now owns 91,341 shares of the business services provider’s stock valued at $3,096,000 after buying an additional 84,750 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in EVERTEC by 9.9% during the third quarter. Natixis Advisors LLC now owns 582,608 shares of the business services provider’s stock valued at $19,745,000 after buying an additional 52,586 shares in the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at EVERTEC

In other news, EVP Miguel Vizcarrondo sold 8,123 shares of EVERTEC stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $34.09, for a total transaction of $276,913.07. Following the sale, the executive vice president now owns 113,915 shares of the company’s stock, valued at approximately $3,883,362.35. The trade was a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel Brignardello sold 3,842 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $36.00, for a total value of $138,312.00. Following the completion of the transaction, the executive vice president now directly owns 32,481 shares of the company’s stock, valued at $1,169,316. This trade represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,308 shares of company stock worth $2,440,112. 0.83% of the stock is owned by insiders.

EVERTEC Stock Performance

Shares of NYSE EVTC opened at $32.76 on Thursday. The stock has a market capitalization of $2.08 billion, a P/E ratio of 25.60, a P/E/G ratio of 1.40 and a beta of 1.15. The firm’s 50-day moving average price is $33.91 and its two-hundred day moving average price is $33.76. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $42.21. 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 (NYSE:EVTC) last released its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The business had revenue of $211.80 million during the quarter, compared to analyst estimates of $211.51 million. During the same quarter in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, sell-side analysts forecast that EVERTEC, Inc. will post 2.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EVTC. Morgan Stanley upgraded 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 report on Thursday, November 21st. William Blair reiterated an “outperform” rating on shares of EVERTEC in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $35.00.

EVERTEC 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.