Los Angeles Capital Management LLC Sells 18,926 Shares of EVERTEC, Inc. (NYSE:EVTC)

Los Angeles Capital Management LLC lessened its holdings in EVERTEC, Inc. (NYSE:EVTC) by 30.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 owned 0.07% of EVERTEC worth $1,736,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in EVTC. Federated Hermes Inc. bought a new stake in shares of EVERTEC in the 3rd quarter worth about $49,000. First Trust Direct Indexing L.P. acquired a new position in shares of EVERTEC in the 3rd quarter worth approximately $215,000. Hennion & Walsh Asset Management Inc. bought a new stake in EVERTEC during the 3rd quarter worth approximately $223,000. AlphaQ Advisors LLC acquired a new stake in EVERTEC during the 4th quarter valued at $231,000. Finally, Jump Financial LLC acquired a new stake in EVERTEC during the 3rd quarter valued at $244,000. Institutional investors and hedge funds own 96.80% of the company’s stock.

Insider Transactions at EVERTEC

In related news, CEO Morgan M. Schuessler sold 100,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $12,939,925.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Morgan M. Schuessler sold 100,000 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 347,941 shares of the company’s stock, valued at approximately $12,939,925.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frank G. D’angelo sold 16,000 shares of EVERTEC stock in a transaction dated Monday, March 11th. The shares were 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 directly owns 10,380 shares in the company, valued at approximately $388,523.40. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

EVERTEC Trading Down 0.3 %

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

EVERTEC (NYSE:EVTC) last posted its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The company had revenue of $194.62 million during the quarter, compared to analyst estimates of $179.86 million. EVERTEC had a net margin of 8.87% and a return on equity of 29.86%. On average, sell-side analysts anticipate that EVERTEC, Inc. will post 2.33 earnings per share for the current year.

EVERTEC Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.