Stifel Financial Corp Sells 32,665 Shares of EVERTEC, Inc. (NYSE:EVTC)

Stifel Financial Corp lowered its stake in shares of EVERTEC, Inc. (NYSE:EVTC) by 24.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 98,766 shares of the business services provider’s stock after selling 32,665 shares during the quarter. Stifel Financial Corp’s holdings in EVERTEC were worth $3,347,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in EVERTEC by 36.6% in the third quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock valued at $308,882,000 after acquiring an additional 2,440,680 shares during the last quarter. Edgestream Partners L.P. bought a new position in EVERTEC during the second quarter valued at $8,143,000. American Century Companies Inc. increased its position in 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 worth $145,318,000 after buying an additional 208,183 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of 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 during the period. Finally, F M Investments LLC purchased a new position in shares of EVERTEC during the 2nd quarter valued at $5,672,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Insider Activity

In other news, EVP Daniel Brignardello sold 3,842 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $36.00, for a total transaction of $138,312.00. Following the completion of the transaction, the executive vice president now owns 32,481 shares of the company’s stock, valued at approximately $1,169,316. The trade was a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $36.08, for a total transaction of $1,748,184.24. Following the completion of the sale, the chief financial officer now directly owns 54,998 shares in the company, valued at $1,984,327.84. This represents a 46.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EVTC. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $33.00 to $35.00 in a report on Thursday, November 21st. Susquehanna lowered shares of 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 research report on Thursday, September 5th.

EVERTEC Stock Performance

NYSE:EVTC opened at $35.19 on Tuesday. The business’s fifty day moving average is $34.41 and its 200 day moving average is $33.74. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 1.63 and a beta of 1.16. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $42.21.

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

EVERTEC Announces Dividend

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

EVERTEC Company 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.