EVERTEC, Inc. (NYSE:EVTC) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in EVERTEC, Inc. (NYSE:EVTC) by 8.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 444,444 shares of the business services provider’s stock after acquiring an additional 33,917 shares during the period. Envestnet Asset Management Inc.’s holdings in EVERTEC were worth $14,778,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Oppenheimer Asset Management Inc. raised its stake in shares of EVERTEC by 9.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,042 shares of the business services provider’s stock valued at $334,000 after acquiring an additional 860 shares in the last quarter. American Century Companies Inc. raised its stake in shares of EVERTEC by 5.0% in the second quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock valued at $145,318,000 after acquiring an additional 208,183 shares in the last quarter. North Star Asset Management Inc. raised its stake in shares of EVERTEC by 0.7% in the second quarter. North Star Asset Management Inc. now owns 740,234 shares of the business services provider’s stock valued at $24,613,000 after acquiring an additional 5,475 shares in the last quarter. Arizona State Retirement System raised its stake in EVERTEC by 3.2% in the second quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider’s stock valued at $609,000 after buying an additional 561 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in EVERTEC by 9.0% in the second 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 in the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

EVERTEC Stock Performance

Shares of EVTC stock opened at $33.69 on Wednesday. The stock’s 50-day moving average is $33.52 and its two-hundred day moving average is $35.10. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 1.63 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 1.92, a quick ratio of 1.82 and a current ratio of 1.82.

EVERTEC (NYSE:EVTC) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.19. The company had revenue of $211.98 million for the quarter, compared to analyst estimates of $209.40 million. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. Analysts predict that EVERTEC, Inc. will post 2.53 earnings per share for the current year.

EVERTEC Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Monday, July 29th. EVERTEC’s payout ratio is 20.20%.

Wall Street Analyst Weigh In

EVTC has been the topic of a number of analyst reports. Susquehanna cut EVERTEC from a “neutral” rating to a “negative” rating and cut their price target for the company from $38.00 to $28.00 in a research note on Thursday, September 5th. Keefe, Bruyette & Woods cut their price target on EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $34.33.

Insiders Place Their Bets

In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction dated 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 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 filing with the SEC, which is accessible through the SEC website. In related news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 39,370 shares of the company’s stock, valued at $1,381,887. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $34.11, for a total value of $1,364,400.00. Following 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. Corporate 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.