Insider Selling: EVERTEC, Inc. (NYSE:EVTC) CFO Sells 48,453 Shares of Stock

EVERTEC, Inc. (NYSE:EVTC) CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $36.08, for a total transaction of $1,748,184.24. Following the transaction, the chief financial officer now owns 54,998 shares in the company, valued at $1,984,327.84. The trade was a 46.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

EVERTEC Stock Performance

Shares of NYSE EVTC opened at $35.43 on Friday. The company has a 50 day simple moving average of $34.20 and a two-hundred day simple moving average of $33.76. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.61 and a beta of 1.16. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a 12 month low of $28.76 and a 12 month high of $42.21.

EVERTEC (NYSE:EVTC) last posted its earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The company had revenue of $211.80 million during the quarter, compared to the consensus estimate of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. As a group, analysts predict that EVERTEC, Inc. will post 2.55 earnings per share for the current year.

EVERTEC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, October 28th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.56%. The ex-dividend date was Monday, October 28th. EVERTEC’s dividend payout ratio is currently 15.63%.

Institutional Investors Weigh In On EVERTEC

Several hedge funds have recently bought and sold shares of the stock. Opal Wealth Advisors LLC purchased a new position in shares of EVERTEC during the 2nd quarter valued at approximately $28,000. Public Employees Retirement System of Ohio acquired a new stake in EVERTEC during the third quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in EVERTEC in the third quarter valued at $55,000. Northwestern Mutual Wealth Management Co. raised its position in shares of EVERTEC by 866.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock worth $81,000 after acquiring an additional 2,175 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of EVERTEC by 90.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock worth $104,000 after acquiring an additional 1,490 shares during the period. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Wall Street Analyst Weigh In

EVTC has been the topic of a number of research analyst reports. Susquehanna lowered shares of EVERTEC from a “neutral” rating to a “negative” rating and dropped their price objective for the company from $38.00 to $28.00 in a report on Thursday, September 5th. Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $33.00 to $35.00 in a research note on Thursday, November 21st.

About EVERTEC

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.