Daniel Brignardello Sells 7,641 Shares of EVERTEC, Inc. (NYSE:EVTC) Stock

EVERTEC, Inc. (NYSE:EVTC) EVP Daniel Brignardello sold 7,641 shares of the firm’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $36.60, for a total transaction of $279,660.60. Following the completion of the transaction, the executive vice president now directly owns 31,277 shares of the company’s stock, valued at approximately $1,144,738.20. The trade was a 19.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

EVERTEC Trading Up 1.3%

NYSE:EVTC opened at $37.75 on Friday. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $38.32. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. The company’s 50-day simple moving average is $35.02 and its 200 day simple moving average is $34.56. The firm has a market capitalization of $2.42 billion, a P/E ratio of 29.49, a PEG ratio of 1.43 and a beta of 1.02.

EVERTEC (NYSE:EVTC) last issued its earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.06. The firm had revenue of $228.79 million for the quarter, compared to the consensus estimate of $217.97 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. As a group, analysts forecast that EVERTEC, Inc. will post 2.63 EPS for the current fiscal year.

EVERTEC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. EVERTEC’s dividend payout ratio (DPR) is 10.05%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVTC. FMR LLC boosted its stake in shares of EVERTEC by 4.7% during the 4th quarter. FMR LLC now owns 9,542,103 shares of the business services provider’s stock worth $329,489,000 after acquiring an additional 427,859 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in EVERTEC by 1.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,473,953 shares of the business services provider’s stock worth $127,737,000 after purchasing an additional 65,793 shares during the period. Dimensional Fund Advisors LP raised its holdings in EVERTEC by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,628,404 shares of the business services provider’s stock worth $56,229,000 after purchasing an additional 32,330 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in EVERTEC by 3.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,155,394 shares of the business services provider’s stock worth $42,484,000 after purchasing an additional 33,832 shares during the period. Finally, Northern Trust Corp raised its holdings in EVERTEC by 7.1% in the 1st quarter. Northern Trust Corp now owns 907,660 shares of the business services provider’s stock worth $33,375,000 after purchasing an additional 60,484 shares during the period. Institutional investors own 96.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a report on Thursday, February 27th. Raymond James lifted their price objective on shares of EVERTEC from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Keefe, Bruyette & Woods lifted their price objective on shares of EVERTEC from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Finally, Susquehanna raised shares of EVERTEC from a “negative” rating to a “neutral” rating and lifted their price objective for the stock from $28.00 to $30.00 in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.75.

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.