Sei Investments Co. Has $15.98 Million Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Sei Investments Co. lifted its stake in EVERTEC, Inc. (NYSE:EVTC) by 7.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 480,616 shares of the business services provider’s stock after buying an additional 35,118 shares during the period. Sei Investments Co.’s holdings in EVERTEC were worth $15,981,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Opal Wealth Advisors LLC bought a new stake in EVERTEC in the second quarter valued at $28,000. Benjamin F. Edwards & Company Inc. boosted its stake 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 valued at $65,000 after purchasing an additional 873 shares in the last quarter. nVerses Capital LLC grew its holdings 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 purchasing an additional 1,300 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in EVERTEC by 48.9% during the 1st quarter. EntryPoint Capital LLC now owns 2,761 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 907 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in EVERTEC during the 1st quarter valued at about $162,000. Institutional investors own 96.80% of the company’s stock.

Insider Activity

In related news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of EVERTEC stock in a transaction dated 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 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 filing with the SEC, which is available through the SEC website. In other EVERTEC news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the firm’s 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 transaction, the executive vice president now directly 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 through this hyperlink. Also, EVP Miguel Vizcarrondo sold 40,000 shares of EVERTEC 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 directly owns 129,928 shares of the company’s stock, valued at approximately $4,431,844.08. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by insiders.

EVERTEC Trading Up 1.5 %

EVTC opened at $33.20 on Friday. EVERTEC, Inc. has a 1-year low of $28.76 and a 1-year high of $42.21. The stock has a market capitalization of $2.14 billion, a PE ratio of 33.54, a PEG ratio of 1.66 and a beta of 1.15. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.92. The firm has a 50-day moving average price of $33.46 and a two-hundred day moving average price of $35.07.

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

EVERTEC Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently weighed in on EVTC shares. Keefe, Bruyette & Woods dropped 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 cut EVERTEC from a “neutral” rating to a “negative” rating and dropped their price target for the company from $38.00 to $28.00 in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.