Insider Selling: EVERTEC, Inc. (NYSE:EVTC) CEO Sells $2,996,000.00 in Stock

EVERTEC, Inc. (NYSE:EVTC) CEO Morgan M. Schuessler sold 80,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $37.45, for a total transaction of $2,996,000.00. Following the sale, the chief executive officer now directly owns 282,172 shares of the company’s stock, valued at $10,567,341.40. The trade was a 22.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

EVERTEC Trading Down 0.6 %

EVERTEC stock opened at $37.24 on Monday. EVERTEC, Inc. has a 12-month low of $28.76 and a 12-month high of $40.67. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 1.43 and a beta of 1.11. The firm has a 50 day moving average of $33.74 and a 200 day moving average of $33.93. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors 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 dividend payout ratio (DPR) is presently 11.56%.

Institutional Investors Weigh In On EVERTEC

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in EVERTEC by 36.6% during 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 in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of EVERTEC during the 4th quarter valued at about $17,416,000. Norges Bank purchased a new position in shares of EVERTEC during the fourth quarter valued at about $6,568,000. Ameriprise Financial Inc. increased its holdings in shares of EVERTEC by 41.6% in the fourth quarter. Ameriprise Financial Inc. now owns 568,797 shares of the business services provider’s stock worth $19,641,000 after purchasing an additional 166,997 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of EVERTEC in the fourth quarter worth about $5,356,000. 96.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on EVTC. Susquehanna upgraded shares of EVERTEC from a “negative” rating to a “neutral” rating and boosted their target price for the company from $28.00 to $30.00 in a research report on Thursday, February 27th. William Blair reissued an “outperform” rating on shares of EVERTEC in a research report on Thursday, February 27th. Finally, Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $33.00 to $35.00 in a report on Thursday, November 21st.

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.