Pathstone Holdings LLC Cuts Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Pathstone Holdings LLC decreased its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 322,505 shares of the business services provider’s stock after selling 341 shares during the quarter. Pathstone Holdings LLC’s holdings in EVERTEC were worth $10,930,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in shares of EVERTEC during the second quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. lifted its position in EVERTEC by 866.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock valued at $81,000 after purchasing an additional 2,175 shares during the period. EntryPoint Capital LLC lifted its position in EVERTEC by 48.9% during the first 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 period. Benjamin F. Edwards & Company Inc. lifted its position in EVERTEC by 90.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 1,490 shares during the period. Finally, nVerses Capital LLC lifted its position in EVERTEC by 68.4% during the second quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 1,300 shares during the period. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Susquehanna downgraded shares of EVERTEC from a “neutral” rating to a “negative” rating and lowered their price objective for the company from $38.00 to $28.00 in a research report on Thursday, September 5th.

Insiders Place Their Bets

In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 129,928 shares in the company, valued at $4,431,844.08. The trade was a 23.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.83% of the company’s stock.

EVERTEC Trading Down 2.3 %

Shares of EVERTEC stock opened at $34.84 on Thursday. The company’s fifty day simple moving average is $33.64 and its 200-day simple moving average is $33.86. The stock has a market capitalization of $2.22 billion, a PE ratio of 27.22, a P/E/G ratio of 1.58 and a beta of 1.15. EVERTEC, Inc. has a 1-year low of $28.76 and a 1-year high of $42.21. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97.

EVERTEC (NYSE:EVTC) last released its earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The company had revenue of $211.80 million for the quarter, compared to analysts’ expectations of $211.51 million. During the same quarter in the previous year, the company earned $0.72 EPS. EVERTEC’s revenue for the quarter was up 22.3% on a year-over-year basis. As a group, equities analysts anticipate that EVERTEC, Inc. will post 2.55 earnings per share for the current year.

EVERTEC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, October 28th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.57%. The ex-dividend date is Monday, October 28th. EVERTEC’s payout ratio is currently 15.63%.

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.