Willis Investment Counsel Raises Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Willis Investment Counsel raised its stake in EVERTEC, Inc. (NYSE:EVTC) by 37.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,602 shares of the business services provider’s stock after buying an additional 9,482 shares during the quarter. Willis Investment Counsel owned about 0.05% of EVERTEC worth $1,195,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Zacks Investment Management purchased a new position in EVERTEC during the 3rd quarter valued at about $1,258,000. Algert Global LLC grew its holdings in shares of EVERTEC by 1,285.8% in the third quarter. Algert Global LLC now owns 91,341 shares of the business services provider’s stock valued at $3,096,000 after purchasing an additional 84,750 shares in the last quarter. JPMorgan Chase & Co. increased its stake in EVERTEC by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider’s stock worth $11,447,000 after buying an additional 33,462 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. lifted its holdings in EVERTEC by 100.0% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 40,000 shares of the business services provider’s stock worth $1,381,000 after buying an additional 20,000 shares in the last quarter. Finally, Barclays PLC boosted its position in EVERTEC by 385.6% in the 3rd quarter. Barclays PLC now owns 115,398 shares of the business services provider’s stock valued at $3,910,000 after buying an additional 91,632 shares during the period. Hedge funds and other institutional investors own 96.80% of the company’s stock.

EVERTEC Trading Up 0.1 %

EVTC opened at $32.47 on Monday. The business’s 50-day simple moving average is $34.13 and its 200-day simple moving average is $33.80. The company has a market cap of $2.07 billion, a P/E ratio of 25.37, a PEG ratio of 1.38 and a beta of 1.16. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $42.21. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97.

EVERTEC (NYSE:EVTC) last released its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The company had revenue of $211.80 million for the quarter, compared to analysts’ expectations of $211.51 million. During the same quarter last year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. As a group, equities research analysts expect that EVERTEC, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity

In other news, EVP Daniel Brignardello sold 3,842 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $36.00, for a total transaction of $138,312.00. Following the transaction, the executive vice president now directly owns 32,481 shares in the company, valued at $1,169,316. The trade was a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Miguel Vizcarrondo sold 8,123 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $34.09, for a total transaction of $276,913.07. Following the completion of the sale, the executive vice president now owns 113,915 shares of the company’s stock, valued at approximately $3,883,362.35. The trade was a 6.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,308 shares of company stock valued at $2,440,112 in the last ninety days. 0.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $33.00 to $35.00 in a research report on Thursday, November 21st. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.00.

EVERTEC Company 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.