Evertec Inc (EVTC) Insider Sells $486,200.00 in Stock

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Evertec Inc (NYSE:EVTC) insider Miguel Vizcarrondo sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $24.31, for a total value of $486,200.00. Following the completion of the sale, the insider now directly owns 195,887 shares in the company, valued at approximately $4,762,012.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Miguel Vizcarrondo also recently made the following trade(s):

  • On Friday, September 7th, Miguel Vizcarrondo sold 30,000 shares of Evertec stock. The shares were sold at an average price of $23.76, for a total value of $712,800.00.

Shares of EVTC stock opened at $24.60 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 2.77. Evertec Inc has a 12 month low of $12.60 and a 12 month high of $25.55. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 16.47 and a beta of 1.23.

Evertec (NYSE:EVTC) last announced its quarterly earnings data on Tuesday, July 31st. The business services provider reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. Evertec had a return on equity of 64.95% and a net margin of 12.91%. The company had revenue of $113.35 million during the quarter, compared to the consensus estimate of $111.77 million. During the same quarter last year, the company earned $0.44 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. equities research analysts forecast that Evertec Inc will post 1.58 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Monday, August 6th were given a $0.05 dividend. The ex-dividend date was Friday, August 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.81%. Evertec’s dividend payout ratio is currently 13.61%.

A number of research firms have issued reports on EVTC. ValuEngine raised Evertec from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Morgan Stanley raised their target price on Evertec from $19.00 to $23.00 and gave the company a “$22.95” rating in a report on Thursday, July 19th. Zacks Investment Research lowered Evertec from a “buy” rating to a “hold” rating in a report on Monday, June 25th. Raymond James initiated coverage on Evertec in a research report on Friday, June 15th. They issued a “market perform” rating for the company. Finally, Deutsche Bank raised their price objective on Evertec from $20.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.33.

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of Evertec during the 2nd quarter worth approximately $2,762,000. Amalgamated Bank bought a new position in shares of Evertec during the 2nd quarter worth approximately $213,000. Sei Investments Co. lifted its position in shares of Evertec by 7.5% during the 2nd quarter. Sei Investments Co. now owns 101,496 shares of the business services provider’s stock worth $2,218,000 after buying an additional 7,066 shares during the period. Eqis Capital Management Inc. bought a new position in shares of Evertec during the 2nd quarter worth approximately $610,000. Finally, Bayesian Capital Management LP bought a new position in shares of Evertec during the 1st quarter worth approximately $221,000. Institutional investors own 79.12% of the company’s stock.

About Evertec

EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies 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.

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