Evertec Inc. (EVTC) Insider Sells $510,000.00 in Stock
Evertec Inc. (NYSE:EVTC) insider Miguel Vizcarrondo sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $17.00, for a total transaction of $510,000.00. Following the transaction, the insider now directly owns 192,600 shares of the company’s stock, valued at approximately $3,274,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Evertec Inc. (NYSE:EVTC) opened at 18.00 on Wednesday. The stock has a market capitalization of $1.33 billion, a P/E ratio of 16.65 and a beta of 1.17. Evertec Inc. has a 1-year low of $11.27 and a 1-year high of $18.20. The firm’s 50-day moving average is $15.64 and its 200 day moving average is $16.06.
Evertec (NYSE:EVTC) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. The firm had revenue of $94.47 million for the quarter, compared to analyst estimates of $95.29 million. Evertec had a net margin of 21.14% and a return on equity of 120.29%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. On average, analysts expect that Evertec Inc. will post $1.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Monday, November 14th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.22%. The ex-dividend date is Wednesday, November 9th. Evertec’s payout ratio is presently 37.04%.
A number of institutional investors have recently modified their holdings of EVTC. Teachers Advisors Inc. raised its position in shares of Evertec by 4.7% in the first quarter. Teachers Advisors Inc. now owns 104,801 shares of the company’s stock valued at $1,465,000 after buying an additional 4,742 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position 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 valued at $23,529,000 after buying an additional 6,464 shares during the period. Wellington Management Group LLP increased its position 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 valued at $12,829,000 after buying an additional 35,268 shares during the period. Bank of Montreal Can bought a new position in shares of Evertec during the second quarter valued at approximately $1,271,000. Finally, Stoneridge Investment Partners LLC increased its position in shares of Evertec by 167.1% in the second quarter. Stoneridge Investment Partners LLC now owns 76,144 shares of the company’s stock valued at $1,183,000 after buying an additional 47,634 shares during the period. 79.12% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research raised shares of Evertec from a “sell” rating to a “hold” rating in a research report on Friday, November 4th. 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 company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.40.
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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