EVERTEC, Inc. (NYSE:EVTC) Shares Bought by Arizona State Retirement System

Arizona State Retirement System raised its position in EVERTEC, Inc. (NYSE:EVTC) by 3.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 18,323 shares of the business services provider’s stock after acquiring an additional 561 shares during the period. Arizona State Retirement System’s holdings in EVERTEC were worth $609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EVTC. Norges Bank purchased a new position in EVERTEC during the fourth quarter worth about $19,626,000. Victory Capital Management Inc. lifted its holdings in shares of EVERTEC by 9.0% in the 2nd quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider’s stock valued at $76,421,000 after buying an additional 189,637 shares during the period. F M Investments LLC purchased a new stake in shares of EVERTEC in the second quarter valued at approximately $5,672,000. Sunriver Management LLC boosted its stake in shares of EVERTEC by 22.3% in the fourth quarter. Sunriver Management LLC now owns 827,458 shares of the business services provider’s stock valued at $33,876,000 after buying an additional 150,935 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in EVERTEC by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 7,453,242 shares of the business services provider’s stock worth $305,136,000 after acquiring an additional 68,871 shares during the period. Hedge funds and other institutional investors own 96.80% of the company’s stock.

EVERTEC Trading Up 0.7 %

Shares of EVTC stock opened at $33.38 on Monday. The stock has a market cap of $2.14 billion, a P/E ratio of 33.72, a P/E/G ratio of 1.63 and a beta of 1.15. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.92. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $42.21. The business has a fifty day simple moving average of $33.32 and a 200-day simple moving average of $35.30.

EVERTEC (NYSE:EVTC) last posted its earnings results on Wednesday, July 31st. The business services provider reported $0.73 earnings per share 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%. The firm had revenue of $211.98 million during the quarter, compared to the consensus estimate of $209.40 million. On average, analysts forecast that EVERTEC, Inc. will post 2.53 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, July 29th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Monday, July 29th. EVERTEC’s dividend payout ratio (DPR) is presently 20.20%.

Insiders Place Their Bets

In related 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 transaction of $1,364,400.00. Following the sale, 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 filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the company’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 transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of EVERTEC stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $35.10, for a total transaction of $1,263,600.00. Following the completion of the sale, the executive vice president now directly owns 39,370 shares of the company’s stock, valued at $1,381,887. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EVTC has been the topic of several research analyst reports. Susquehanna lowered shares of EVERTEC from a “neutral” rating to a “negative” rating and decreased their target price for the stock from $38.00 to $28.00 in a research report on Thursday, September 5th. Keefe, Bruyette & Woods decreased their price objective on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Two equities 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 stock. Based on data from MarketBeat.com, EVERTEC currently has an average rating of “Hold” and a consensus price target of $34.33.

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.