EVERTEC, Inc. (NYSE:EVTC) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 17.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,535 shares of the business services provider’s stock after buying an additional 2,316 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in EVERTEC were worth $636,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of EVERTEC by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,682 shares of the business services provider’s stock valued at $546,000 after buying an additional 332 shares during the period. Willis Investment Counsel lifted its stake in EVERTEC by 1.0% during the fourth quarter. Willis Investment Counsel now owns 34,476 shares of the business services provider’s stock worth $1,411,000 after purchasing an additional 345 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of EVERTEC by 1.6% during the third quarter. HighTower Advisors LLC now owns 34,017 shares of the business services provider’s stock worth $1,271,000 after purchasing an additional 545 shares during the period. Meritage Portfolio Management raised its stake in EVERTEC by 5.4% during the third quarter. Meritage Portfolio Management now owns 13,501 shares of the business services provider’s stock worth $502,000 after acquiring an additional 691 shares during the period. Finally, Equitable Trust Co. raised its position in shares of EVERTEC by 7.1% during the 4th quarter. Equitable Trust Co. now owns 10,956 shares of the business services provider’s stock worth $449,000 after purchasing an additional 731 shares during the period. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EVTC has been the topic of several analyst reports. Morgan Stanley increased their target price on EVERTEC from $32.00 to $33.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 27th. StockNews.com lowered EVERTEC from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $41.33.

Insider Activity

In other EVERTEC news, CEO Morgan M. Schuessler sold 100,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following 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 SEC, which is available through this link. In other news, CEO Morgan M. Schuessler sold 100,000 shares of EVERTEC stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 347,941 shares of the company’s stock, valued at $12,939,925.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 shares were 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 disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.

EVERTEC Trading Up 0.2 %

Shares of EVTC stock opened at $37.62 on Thursday. The stock has a 50-day simple moving average of $38.27 and a 200 day simple moving average of $38.21. The stock has a market capitalization of $2.42 billion, a P/E ratio of 31.09, a P/E/G ratio of 2.26 and a beta of 1.20. EVERTEC, Inc. has a fifty-two week low of $31.56 and a fifty-two week high of $42.21. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.58.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings data on Wednesday, February 28th. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). The business had revenue of $194.62 million for the quarter, compared to the consensus estimate of $179.86 million. EVERTEC had a net margin of 11.48% and a return on equity of 29.73%. On average, sell-side analysts expect that EVERTEC, Inc. will post 2.33 earnings per share for the current fiscal year.

EVERTEC Dividend Announcement

The business also recently announced 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, April 26th. EVERTEC’s dividend payout ratio (DPR) is presently 16.53%.

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.