EVERTEC, Inc. (NYSE:EVTC) Shares Purchased by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. grew its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 90.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,132 shares of the business services provider’s stock after purchasing an additional 1,490 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in EVERTEC were worth $104,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in EVERTEC during the fourth quarter worth approximately $19,626,000. Edgestream Partners L.P. acquired a new position in EVERTEC in the 2nd quarter valued at $8,143,000. American Century Companies Inc. grew its position 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 purchasing an additional 208,183 shares during the period. Victory Capital Management Inc. increased 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 purchasing an additional 189,637 shares during the last quarter. Finally, F M Investments LLC acquired a new position in EVERTEC in the second quarter valued at $5,672,000. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

EVERTEC Price Performance

EVERTEC stock opened at $33.20 on Friday. The firm has a fifty day moving average of $33.46 and a 200-day moving average of $35.07. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $42.21. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $2.14 billion, a P/E ratio of 33.54, a PEG ratio of 1.66 and a beta of 1.15.

EVERTEC (NYSE:EVTC) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.54 by $0.19. The firm 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%. As a group, analysts predict that EVERTEC, Inc. will post 2.53 EPS 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 given a $0.05 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. EVERTEC’s payout ratio is currently 20.20%.

Insider Activity

In related news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the business’s 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 transaction, the executive vice president now owns 39,370 shares in the company, valued at $1,381,887. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other 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 transaction of $1,263,600.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this link. 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 completion of the sale, the executive vice president now 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. Insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on EVTC shares. Susquehanna cut EVERTEC from a “neutral” rating to a “negative” rating and lowered their price target for the company from $38.00 to $28.00 in a report on Thursday, September 5th. Keefe, Bruyette & Woods lowered their price objective on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company 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 issued a buy rating to the company. Based on data from MarketBeat.com, EVERTEC presently has a consensus rating of “Hold” and an average target price of $34.33.

About EVERTEC

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.