Joaquin A. Castrillo-Salgado Sells 48,453 Shares of EVERTEC, Inc. (NYSE:EVTC) Stock

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

EVERTEC Price Performance

NYSE:EVTC opened at $35.08 on Friday. EVERTEC, Inc. has a 12-month low of $28.76 and a 12-month high of $42.21. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 1.61 and a beta of 1.16. The stock’s 50 day moving average price is $34.17 and its two-hundred day moving average price is $33.77. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84.

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

EVERTEC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, October 28th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Monday, October 28th. EVERTEC’s payout ratio is 15.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Morgan Stanley upgraded 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 note on Thursday, November 21st. Susquehanna downgraded shares of EVERTEC from a “neutral” rating to a “negative” rating and lowered their target price for the stock from $38.00 to $28.00 in a report on Thursday, September 5th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its position in EVERTEC by 36.6% during the third quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock worth $308,882,000 after acquiring an additional 2,440,680 shares during the last quarter. American Century Companies Inc. increased its stake in shares of EVERTEC by 5.0% during the second quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock worth $145,318,000 after purchasing an additional 208,183 shares during the period. State Street Corp lifted its holdings in EVERTEC by 1.4% during the 3rd quarter. State Street Corp now owns 2,494,349 shares of the business services provider’s stock worth $84,533,000 after purchasing an additional 34,410 shares during the last quarter. Victory Capital Management Inc. boosted its stake in EVERTEC by 9.0% in the 2nd quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider’s stock valued at $76,421,000 after purchasing an additional 189,637 shares during the period. Finally, River Road Asset Management LLC grew its holdings in EVERTEC by 0.3% in the 3rd quarter. River Road Asset Management LLC now owns 1,966,626 shares of the business services provider’s stock valued at $66,649,000 after buying an additional 5,899 shares in the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

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.