EVERTEC, Inc. (NYSE:EVTC) CEO Sells 80,000 Shares of Stock

EVERTEC, Inc. (NYSE:EVTC) CEO Morgan M. Schuessler sold 80,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $37.45, for a total value of $2,996,000.00. Following the transaction, the chief executive officer now directly owns 282,172 shares of the company’s stock, valued at approximately $10,567,341.40. The trade was a 22.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

EVERTEC Trading Down 0.6 %

Shares of EVERTEC stock traded down $0.22 on Friday, reaching $37.24. The company had a trading volume of 368,392 shares, compared to its average volume of 331,232. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 1.43 and a beta of 1.15. 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 firm’s 50-day moving average price is $33.69 and its two-hundred day moving average price is $33.89. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $40.67.

EVERTEC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Monday, March 3rd. EVERTEC’s payout ratio is 11.56%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. 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 purchasing an additional 427,859 shares during the period. State Street Corp boosted its position in shares of EVERTEC by 1.4% during the third quarter. State Street Corp now owns 2,494,349 shares of the business services provider’s stock valued at $84,533,000 after buying an additional 34,410 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of EVERTEC by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,628,404 shares of the business services provider’s stock valued at $56,229,000 after buying an additional 32,330 shares during the last quarter. Northern Trust Corp raised its holdings in shares of EVERTEC by 0.8% in the fourth quarter. Northern Trust Corp now owns 847,176 shares of the business services provider’s stock worth $29,253,000 after buying an additional 7,073 shares during the period. Finally, North Star Asset Management Inc. lifted its stake in shares of EVERTEC by 3.6% during the 4th quarter. North Star Asset Management Inc. now owns 794,171 shares of the business services provider’s stock worth $27,423,000 after acquiring an additional 27,911 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.

Wall Street Analyst Weigh In

EVTC has been the topic of several recent research reports. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $33.00 to $35.00 in a report on Thursday, November 21st. Susquehanna raised shares of EVERTEC from a “negative” rating to a “neutral” rating and upped their price target for the company from $28.00 to $30.00 in a research note on Thursday, February 27th. Finally, William Blair reissued an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th.

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.