EVERTEC, Inc. (NYSE:EVTC) Shares Acquired by State of Tennessee Treasury Department

State of Tennessee Treasury Department increased its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 5.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,263 shares of the business services provider’s stock after purchasing an additional 2,343 shares during the quarter. State of Tennessee Treasury Department owned 0.06% of EVERTEC worth $1,647,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC increased its stake in EVERTEC by 9.6% during the 1st quarter. HighTower Advisors LLC now owns 24,726 shares of the business services provider’s stock worth $917,000 after buying an additional 2,159 shares during the period. Royce & Associates LP increased its position in shares of EVERTEC by 166.1% during the first quarter. Royce & Associates LP now owns 518,213 shares of the business services provider’s stock worth $19,288,000 after acquiring an additional 323,468 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of EVERTEC by 57.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 37,780 shares of the business services provider’s stock worth $1,406,000 after acquiring an additional 13,852 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of EVERTEC by 1.5% in the first quarter. Principal Financial Group Inc. now owns 510,815 shares of the business services provider’s stock worth $19,013,000 after acquiring an additional 7,625 shares in the last quarter. Finally, Boston Partners boosted its holdings in EVERTEC by 18.3% in the first quarter. Boston Partners now owns 4,442,094 shares of the business services provider’s stock valued at $165,527,000 after purchasing an additional 687,461 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

In related news, COO Philip E. Steurer sold 30,000 shares of the stock in a transaction that occurred on Monday, April 26th. The shares were sold at an average price of $39.99, for a total transaction of $1,199,700.00. Following the completion of the sale, the chief operating officer now directly owns 28,802 shares of the company’s stock, valued at $1,151,791.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Guillermo Rospigliosi sold 24,444 shares of the firm’s stock in a transaction that occurred on Thursday, March 18th. The stock was sold at an average price of $39.43, for a total transaction of $963,826.92. Following the sale, the executive vice president now owns 25,382 shares of the company’s stock, valued at $1,000,812.26. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Several equities analysts have recently commented on EVTC shares. Susquehanna Bancshares increased their target price on EVERTEC from $43.00 to $50.00 and gave the company a “positive” rating in a research note on Friday, April 30th. Zacks Investment Research raised shares of EVERTEC from a “sell” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday, May 4th. Susquehanna upped their target price on shares of EVERTEC from $43.00 to $50.00 and gave the company a “positive” rating in a research note on Friday, April 30th. Morgan Stanley lifted their price target on EVERTEC from $34.00 to $35.00 and gave the stock an “underweight” rating in a research note on Friday, April 30th. Finally, Raymond James upped their price objective on EVERTEC from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, March 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $42.14.

EVERTEC stock opened at $43.73 on Friday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 1.29. EVERTEC, Inc. has a one year low of $26.14 and a one year high of $44.50. The business’s 50-day moving average price is $41.83. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 27.16 and a beta of 1.00.

EVERTEC (NYSE:EVTC) last announced its earnings results on Thursday, April 29th. The business services provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.08. The firm had revenue of $139.53 million for the quarter, compared to analysts’ expectations of $132.41 million. EVERTEC had a return on equity of 47.06% and a net margin of 22.29%. As a group, research analysts expect that EVERTEC, Inc. will post 2.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 4th. Stockholders of record on Monday, May 3rd were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, April 30th. EVERTEC’s dividend payout ratio is presently 10.42%.

EVERTEC Profile

EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; 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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Institutional Ownership by Quarter for EVERTEC (NYSE:EVTC)

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