Insider Selling: Evertec (NYSE:EVTC) CEO Sells $5,041,650.00 in Stock

Evertec, Inc. (NYSE:EVTC) CEO Morgan Schuessler sold 145,000 shares of Evertec stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $34.77, for a total value of $5,041,650.00. Following the completion of the transaction, the chief executive officer owned 305,054 shares in the company, valued at $10,606,727.58. This represents a 32.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Evertec Stock Down 1.9%

Shares of EVTC traded down $0.66 during trading hours on Thursday, hitting $34.07. The company had a trading volume of 795,198 shares, compared to its average volume of 502,413. The company has a market capitalization of $2.04 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 0.89 and a beta of 0.71. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.89. Evertec, Inc. has a one year low of $21.81 and a one year high of $35.28. The company’s fifty day moving average price is $29.77 and its two-hundred day moving average price is $28.44.

Evertec (NYSE:EVTC) last issued its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. Evertec had a return on equity of 32.87% and a net margin of 9.00%. The firm had revenue of $282.99 million during the quarter, compared to analysts’ expectations of $272.94 million. During the same period in the prior year, the business posted $0.92 EPS. The firm’s quarterly revenue was up 23.8% on a year-over-year basis. As a group, equities analysts forecast that Evertec, Inc. will post 3.53 earnings per share for the current fiscal year.

Evertec Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Monday, November 9th will be issued a $0.05 dividend. The ex-dividend date is Monday, November 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. Evertec’s payout ratio is currently 13.16%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Evertec from $38.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday. Weiss Ratings raised shares of Evertec from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, October 21st. Wall Street Zen upgraded shares of Evertec from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Morgan Stanley set a $34.00 target price on shares of Evertec in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.50.

Institutional Trading of Evertec

A number of institutional investors have recently made changes to their positions in the business. Lido Advisors LLC grew its stake in shares of Evertec by 23.6% during the third quarter. Lido Advisors LLC now owns 17,389 shares of the business services provider’s stock worth $469,000 after acquiring an additional 3,319 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Evertec by 3.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,687 shares of the business services provider’s stock worth $375,000 after buying an additional 484 shares during the period. Paragon Advisors LLC acquired a new stake in shares of Evertec during the third quarter worth $237,000. Parallel Advisors LLC acquired a new stake in shares of Evertec during the third quarter worth $58,000. Finally, Bridge City Capital LLC grew its holdings in shares of Evertec by 21.5% during the third quarter. Bridge City Capital LLC now owns 85,466 shares of the business services provider’s stock valued at $2,303,000 after buying an additional 15,143 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

Evertec Company Profile

Evertec, Inc is a payment processing and financial technology company that provides transaction-processing services and business technology solutions to financial institutions, merchants, government agencies and other organizations. The company operates through businesses that support electronic payments, merchant acquiring, payment networks and related financial services.

Its products and services include debit and credit card processing, point-of-sale and e-commerce payment acceptance, automated teller machine processing, prepaid services, electronic bill payment and money transfer solutions.