LSV Asset Management Sells 7,000 Shares of EVERTEC, Inc. (NYSE:EVTC)

LSV Asset Management reduced its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 2.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 294,900 shares of the business services provider’s stock after selling 7,000 shares during the quarter. LSV Asset Management owned approximately 0.46% of EVERTEC worth $9,805,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in EVERTEC in the 2nd quarter worth $28,000. Principal Securities Inc. purchased a new stake in shares of EVERTEC in the 4th quarter worth about $36,000. Benjamin F. Edwards & Company Inc. grew its position in shares of EVERTEC by 113.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,642 shares of the business services provider’s stock worth $65,000 after buying an additional 873 shares during the period. EntryPoint Capital LLC grew its position in shares of EVERTEC by 48.9% in the 1st quarter. EntryPoint Capital LLC now owns 2,761 shares of the business services provider’s stock worth $110,000 after buying an additional 907 shares during the period. Finally, nVerses Capital LLC grew its position in shares of EVERTEC by 68.4% in the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock worth $106,000 after buying an additional 1,300 shares during the period. 96.80% of the stock is currently owned by institutional investors.

EVERTEC Stock Performance

Shares of EVTC stock opened at $32.86 on Thursday. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $42.21. The company’s 50-day moving average is $33.30 and its 200 day moving average is $35.43. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 33.19, a price-to-earnings-growth ratio of 1.57 and a beta of 1.15. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.82 and a current ratio of 1.82.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.73 EPS for the quarter, beating 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%. Sell-side analysts expect that EVERTEC, Inc. will post 2.53 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The business also recently announced 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. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Monday, July 29th. EVERTEC’s dividend payout ratio is currently 20.20%.

Analyst Upgrades and Downgrades

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

Insider Transactions at EVERTEC

In other news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of EVERTEC stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 39,370 shares in the company, valued at $1,381,887. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of EVERTEC stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 39,370 shares in the company, valued at $1,381,887. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the transaction, 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. Company insiders own 0.83% of the company’s stock.

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.