Evertec Inc. (EVTC) Insider Miguel Vizcarrondo Sells 30,000 Shares of Stock
Evertec Inc. (NYSE:EVTC) insider Miguel Vizcarrondo sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $17.00, for a total value of $510,000.00. Following the completion of the transaction, the insider now owns 192,600 shares of the company’s stock, valued at approximately $3,274,200. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Evertec Inc. (NYSE:EVTC) opened at 17.55 on Monday. The stock has a market capitalization of $1.30 billion, a PE ratio of 16.23 and a beta of 1.17. Evertec Inc. has a one year low of $11.27 and a one year high of $17.66. The company’s 50 day moving average price is $15.60 and its 200-day moving average price is $15.99.
Evertec (NYSE:EVTC) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The company earned $94.47 million during the quarter, compared to analysts’ expectations of $95.29 million. Evertec had a return on equity of 120.29% and a net margin of 21.14%. Evertec’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 earnings per share. Analysts expect that Evertec Inc. will post $1.71 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Monday, November 14th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Wednesday, November 9th. Evertec’s payout ratio is 37.04%.
Separately, Zacks Investment Research upgraded Evertec from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Wednesday, September 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Evertec has an average rating of “Hold” and an average target price of $17.40.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Evertec by 5.6% in the second quarter. Vanguard Group Inc. now owns 4,602,128 shares of the company’s stock worth $71,517,000 after buying an additional 243,865 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Evertec by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,683,066 shares of the company’s stock worth $23,529,000 after buying an additional 6,464 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Evertec by 6.9% in the third quarter. BlackRock Fund Advisors now owns 1,622,467 shares of the company’s stock worth $27,225,000 after buying an additional 104,246 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Evertec by 4.0% in the first quarter. Wellington Management Group LLP now owns 917,703 shares of the company’s stock worth $12,829,000 after buying an additional 35,268 shares during the last quarter. Finally, North Star Asset Management Inc. boosted its stake in shares of Evertec by 0.6% in the third quarter. North Star Asset Management Inc. now owns 753,776 shares of the company’s stock worth $12,648,000 after buying an additional 4,180 shares during the last quarter. Institutional investors and hedge funds own 79.12% of the company’s stock.
EVERTEC, Inc is a service transaction processing business in Latin America. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. The Merchant Acquiring segment consists of services that allow merchants to accept electronic methods of payment. Its services include a discount fee and membership fees charged to merchants, debit network fees and rental fees from point-of-sale (POS) devices and other equipment, net of credit card interchange and assessment fees.
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