World Investment Advisors LLC Invests $594,000 in EVERTEC, Inc. (NYSE:EVTC)

World Investment Advisors LLC bought a new position in shares of EVERTEC, Inc. (NYSE:EVTC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 17,521 shares of the business services provider’s stock, valued at approximately $594,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its position in EVERTEC by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider’s stock worth $1,077,000 after buying an additional 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of EVERTEC by 21.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,468 shares of the business services provider’s stock worth $548,000 after acquiring an additional 2,924 shares during the last quarter. F M Investments LLC acquired a new position in shares of EVERTEC in the 2nd quarter valued at $5,672,000. nVerses Capital LLC boosted its stake in EVERTEC by 68.4% during the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock worth $106,000 after purchasing an additional 1,300 shares during the period. Finally, Aptus Capital Advisors LLC increased its stake in EVERTEC by 24.8% in the second quarter. Aptus Capital Advisors LLC now owns 88,055 shares of the business services provider’s stock valued at $2,928,000 after purchasing an additional 17,475 shares during the period. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Insider Activity

In other news, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $36.08, for a total transaction of $1,748,184.24. Following the transaction, the chief financial officer now owns 54,998 shares of the company’s stock, valued at approximately $1,984,327.84. This trade represents a 46.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel Brignardello sold 3,842 shares of EVERTEC stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $36.00, for a total value of $138,312.00. Following the completion of the transaction, the executive vice president now owns 32,481 shares of the company’s stock, valued at approximately $1,169,316. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

EVERTEC Stock Performance

EVERTEC stock opened at $35.19 on Tuesday. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $42.21. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 1.63 and a beta of 1.16. The stock has a fifty day moving average of $34.41 and a two-hundred day moving average of $33.74. 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 announced its earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) 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 firm had revenue of $211.80 million for the quarter, compared to analyst estimates of $211.51 million. During the same quarter last year, the business earned $0.72 earnings per share. EVERTEC’s revenue was up 22.3% compared to the same quarter last year. On average, analysts anticipate that EVERTEC, Inc. will post 2.55 EPS for the current fiscal year.

EVERTEC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, October 28th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Monday, October 28th. EVERTEC’s payout ratio is currently 15.63%.

Analyst Ratings Changes

Several equities analysts recently issued reports on EVTC shares. Susquehanna cut EVERTEC from a “neutral” rating to a “negative” rating and dropped their price target for the company from $38.00 to $28.00 in a research report on Thursday, September 5th. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $33.00 to $35.00 in a report on Thursday, November 21st.

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.