Sherbrooke Park Advisers LLC Reduces Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Sherbrooke Park Advisers LLC cut its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 21.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,131 shares of the business services provider’s stock after selling 1,641 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in EVERTEC were worth $212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC increased its holdings in EVERTEC by 4.7% during the 4th quarter. FMR LLC now owns 9,542,103 shares of the business services provider’s stock worth $329,489,000 after purchasing an additional 427,859 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in EVERTEC by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,628,404 shares of the business services provider’s stock worth $56,229,000 after purchasing an additional 32,330 shares during the last quarter. Northern Trust Corp increased its holdings in EVERTEC by 0.8% during the 4th quarter. Northern Trust Corp now owns 847,176 shares of the business services provider’s stock worth $29,253,000 after purchasing an additional 7,073 shares during the last quarter. Sei Investments Co. grew its position in shares of EVERTEC by 13.4% in the 4th quarter. Sei Investments Co. now owns 575,261 shares of the business services provider’s stock worth $19,864,000 after acquiring an additional 67,956 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of EVERTEC by 41.6% in the 4th quarter. Ameriprise Financial Inc. now owns 568,797 shares of the business services provider’s stock worth $19,641,000 after acquiring an additional 166,997 shares in the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

EVERTEC Price Performance

Shares of EVTC opened at $38.35 on Wednesday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 1.43 and a beta of 1.02. The stock has a 50 day moving average of $35.13 and a 200-day moving average of $34.66. 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 52 week low of $28.76 and a 52 week high of $38.39.

EVERTEC (NYSE:EVTC) last released its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.06. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The business had revenue of $228.79 million during the quarter, compared to analyst estimates of $217.97 million. During the same quarter in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, analysts forecast that EVERTEC, Inc. will post 2.63 EPS for the current year.

EVERTEC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. EVERTEC’s dividend payout ratio is currently 10.05%.

Insider Activity at EVERTEC

In other EVERTEC news, EVP Daniel Brignardello sold 7,641 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $36.60, for a total transaction of $279,660.60. Following the completion of the transaction, the executive vice president now owns 31,277 shares in the company, valued at approximately $1,144,738.20. The trade was a 19.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paola Perez-Surillo sold 14,585 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $37.15, for a total value of $541,832.75. Following the transaction, the executive vice president now owns 35,203 shares of the company’s stock, valued at $1,307,791.45. This trade represents a 29.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 257,709 shares of company stock worth $9,560,936 in the last 90 days. 0.63% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EVTC shares. Susquehanna lifted their target price on EVERTEC from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday. Raymond James lifted their target price on EVERTEC from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Keefe, Bruyette & Woods lifted their target price on EVERTEC from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Finally, William Blair reiterated an “outperform” rating on shares of EVERTEC in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, EVERTEC has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

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.