Los Angeles Capital Management LLC Cuts Stake in EVERTEC, Inc. (NYSE:EVTC)

Los Angeles Capital Management LLC decreased its position in EVERTEC, Inc. (NYSE:EVTC) by 30.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 42,393 shares of the business services provider’s stock after selling 18,926 shares during the quarter. Los Angeles Capital Management LLC’s holdings in EVERTEC were worth $1,736,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EVTC. Federated Hermes Inc. bought a new position in shares of EVERTEC in the third quarter worth approximately $49,000. AlphaQ Advisors LLC purchased a new position in EVERTEC in the 4th quarter worth approximately $231,000. First Trust Direct Indexing L.P. purchased a new position in EVERTEC in the 3rd quarter worth approximately $215,000. Hennion & Walsh Asset Management Inc. purchased a new stake in EVERTEC during the 3rd quarter valued at $223,000. Finally, Jump Financial LLC purchased a new stake in EVERTEC during the 3rd quarter valued at $244,000. 96.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at EVERTEC

In related news, CEO Morgan M. Schuessler sold 100,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.19, for a total value of $3,719,000.00. Following the sale, the chief executive officer now owns 347,941 shares in the company, valued at $12,939,925.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Frank G. D’angelo sold 16,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $37.43, for a total transaction of $598,880.00. Following the sale, the director now owns 10,380 shares in the company, valued at approximately $388,523.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Morgan M. Schuessler sold 100,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the transaction, the chief executive officer now owns 347,941 shares in the company, valued at approximately $12,939,925.79. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EVTC. Morgan Stanley upped their price target on EVERTEC from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Tuesday, February 27th. StockNews.com downgraded shares of EVERTEC from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, EVERTEC currently has a consensus rating of “Hold” and a consensus price target of $41.33.

EVERTEC Trading Down 0.3 %

Shares of NYSE:EVTC opened at $37.16 on Wednesday. The stock has a 50 day moving average of $37.91 and a 200 day moving average of $38.24. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.84. The company has a market cap of $2.39 billion, a PE ratio of 37.54, a price-to-earnings-growth ratio of 2.13 and a beta of 1.19. EVERTEC, Inc. has a 12-month low of $31.56 and a 12-month high of $42.21.

EVERTEC (NYSE:EVTC) last issued its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The business had revenue of $194.62 million during the quarter, compared to analysts’ expectations of $179.86 million. EVERTEC had a return on equity of 29.86% and a net margin of 8.87%. As a group, equities research analysts expect that EVERTEC, Inc. will post 2.33 EPS for the current year.

EVERTEC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Monday, April 29th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, April 26th. This represents a $0.20 annualized dividend and a yield of 0.54%. EVERTEC’s payout ratio is 20.20%.

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.