Dynamic Technology Lab Private Ltd bought a new stake in EVERTEC, Inc. (NYSE:EVTC – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,580 shares of the business services provider’s stock, valued at approximately $433,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of EVERTEC in the 4th quarter valued at about $19,626,000. Principal Financial Group Inc. raised its holdings in EVERTEC by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 403,652 shares of the business services provider’s stock valued at $16,526,000 after buying an additional 14,073 shares during the period. Dimensional Fund Advisors LP lifted its position in EVERTEC by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,668,011 shares of the business services provider’s stock valued at $68,289,000 after buying an additional 12,575 shares in the last quarter. Principal Securities Inc. purchased a new stake in EVERTEC during the fourth quarter worth approximately $36,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of EVERTEC by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 709,451 shares of the business services provider’s stock worth $29,045,000 after acquiring an additional 21,304 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.
EVERTEC Trading Up 0.7 %
NYSE EVTC opened at $35.28 on Friday. The company’s fifty day simple moving average is $37.73 and its 200-day simple moving average is $38.48. The stock has a market cap of $2.27 billion, a P/E ratio of 35.64, a PEG ratio of 1.99 and a beta of 1.19. EVERTEC, Inc. has a 52 week low of $31.56 and a 52 week high of $42.21. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.84.
EVERTEC (NYSE:EVTC – Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. The firm had revenue of $205.32 million for the quarter, compared to analyst estimates of $200.75 million. EVERTEC had a net margin of 8.87% and a return on equity of 29.86%. Equities research analysts predict that EVERTEC, Inc. will post 2.41 EPS for the current fiscal year.
EVERTEC Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Monday, April 29th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, April 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. EVERTEC’s dividend payout ratio (DPR) is presently 20.20%.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of EVERTEC from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Tuesday, February 27th. StockNews.com lowered EVERTEC from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $41.33.
Get Our Latest Stock Report on EVTC
Insiders Place Their Bets
In other news, CEO Morgan M. Schuessler sold 100,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the completion of the transaction, the chief executive officer now directly owns 347,941 shares in the company, valued at approximately $12,939,925.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Frank G. D’angelo sold 16,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $37.43, for a total value of $598,880.00. Following the completion of the sale, the director now directly owns 10,380 shares of the company’s stock, valued at $388,523.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Morgan M. Schuessler sold 100,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.19, for a total value of $3,719,000.00. Following the transaction, the chief executive officer now directly owns 347,941 shares in the company, valued at approximately $12,939,925.79. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.
EVERTEC Profile
(Free Report)
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.
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