Allspring Global Investments Holdings LLC Decreases Holdings in EVERTEC, Inc. (NYSE:EVTC)

Allspring Global Investments Holdings LLC lowered its position in EVERTEC, Inc. (NYSE:EVTC) by 20.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,708 shares of the business services provider’s stock after selling 2,974 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in EVERTEC were worth $479,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in EVERTEC by 0.3% in the 3rd quarter. American Century Companies Inc. now owns 3,964,957 shares of the business services provider’s stock worth $147,417,000 after acquiring an additional 12,707 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in EVERTEC by 16.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,452,050 shares of the business services provider’s stock worth $53,987,000 after acquiring an additional 202,757 shares during the last quarter. FMR LLC increased its holdings in EVERTEC by 3,946.0% in the 3rd quarter. FMR LLC now owns 889,431 shares of the business services provider’s stock worth $33,069,000 after acquiring an additional 867,448 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in EVERTEC by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 688,147 shares of the business services provider’s stock worth $25,585,000 after acquiring an additional 22,324 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in EVERTEC by 5.8% in the 3rd quarter. Sei Investments Co. now owns 451,935 shares of the business services provider’s stock worth $16,803,000 after acquiring an additional 24,649 shares during the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Analyst Ratings Changes

EVTC has been the subject of several recent research reports. Morgan Stanley lifted their price objective on EVERTEC from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Tuesday, February 27th. StockNews.com downgraded EVERTEC from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $41.33.

Insider Activity

In other news, Director Frank G. D’angelo sold 16,000 shares of EVERTEC stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $37.43, for a total transaction of $598,880.00. Following the completion of the sale, the director now owns 10,380 shares in the company, valued at approximately $388,523.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Morgan M. Schuessler sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.19, for a total value of $3,719,000.00. Following the completion of the sale, the chief executive officer now owns 347,941 shares in the company, valued at approximately $12,939,925.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank G. D’angelo sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $37.43, for a total value of $598,880.00. Following the completion of the sale, the director now owns 10,380 shares of the company’s stock, valued at approximately $388,523.40. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

EVERTEC Stock Down 1.4 %

Shares of NYSE EVTC opened at $38.27 on Friday. EVERTEC, Inc. has a 52 week low of $31.55 and a 52 week high of $42.21. The business has a 50-day simple moving average of $38.63 and a two-hundred day simple moving average of $38.18. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.58. The company has a market cap of $2.46 billion, a P/E ratio of 31.63, a P/E/G ratio of 2.27 and a beta of 1.20.

EVERTEC (NYSE:EVTC) last issued its earnings results on Wednesday, February 28th. The business services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.06). The company had revenue of $194.62 million during the quarter, compared to the consensus estimate of $179.86 million. EVERTEC had a return on equity of 29.73% and a net margin of 11.48%. Research analysts anticipate that EVERTEC, Inc. will post 2.33 earnings per share for the current fiscal year.

EVERTEC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, April 29th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, April 26th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. EVERTEC’s dividend payout ratio (DPR) is presently 16.53%.

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.