Mitsubishi UFJ Asset Management UK Ltd. Sells 3,000 Shares of EVERTEC, Inc. (NYSE:EVTC)

Mitsubishi UFJ Asset Management UK Ltd. cut its stake in shares of EVERTEC, Inc. (NYSE:EVTC) by 13.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,000 shares of the business services provider’s stock after selling 3,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in EVERTEC were worth $678,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Opal Wealth Advisors LLC acquired a new position in shares of EVERTEC in the second quarter worth approximately $28,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of EVERTEC by 113.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,642 shares of the business services provider’s stock worth $65,000 after purchasing an additional 873 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of EVERTEC by 866.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock valued at $81,000 after purchasing an additional 2,175 shares during the last quarter. EntryPoint Capital LLC increased its position in shares of EVERTEC by 48.9% during the first quarter. EntryPoint Capital LLC now owns 2,761 shares of the business services provider’s stock worth $110,000 after buying an additional 907 shares during the period. Finally, nVerses Capital LLC raised its stake in EVERTEC by 68.4% during the second quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock worth $106,000 after buying an additional 1,300 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Miguel Vizcarrondo sold 40,000 shares of EVERTEC stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the sale, the executive vice president now directly owns 129,928 shares in the company, valued at $4,431,844.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other EVERTEC news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $35.10, for a total transaction of $1,263,600.00. Following the completion of the transaction, the executive vice president now directly owns 39,370 shares of the company’s stock, valued at approximately $1,381,887. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total value of $1,364,400.00. Following the completion of the sale, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at $4,431,844.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Susquehanna lowered EVERTEC from a “neutral” rating to a “negative” rating and cut their target price for the company from $38.00 to $28.00 in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $34.33.

EVERTEC Stock Down 0.5 %

NYSE EVTC traded down $0.17 on Friday, hitting $33.28. 252,075 shares of the company were exchanged, compared to its average volume of 397,026. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.92. The company has a market cap of $2.14 billion, a PE ratio of 33.62, a PEG ratio of 1.64 and a beta of 1.15. The stock has a fifty day moving average of $33.31 and a 200-day moving average of $34.55. EVERTEC, Inc. has a 12 month low of $28.76 and a 12 month high of $42.21.

EVERTEC (NYSE:EVTC) last issued its earnings results on Wednesday, July 31st. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.19. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. The company had revenue of $211.98 million for the quarter, compared to analysts’ expectations of $209.40 million. As a group, analysts forecast that EVERTEC, Inc. will post 2.53 earnings per share for the current year.

EVERTEC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, October 28th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. EVERTEC’s dividend payout ratio (DPR) is currently 20.20%.

EVERTEC 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.