Insider Selling: EVERTEC, Inc. (NYSE:EVTC) EVP Sells 14,585 Shares of Stock

EVERTEC, Inc. (NYSE:EVTC - Get Free Report) EVP Paola Perez-Surillo sold 14,585 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $37.15, for a total value of $541,832.75. Following the completion of the sale, the executive vice president now owns 35,203 shares of the company's stock, valued at $1,307,791.45. This trade represents a 29.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Paola Perez-Surillo also recently made the following trade(s):

• On Friday, March 7th, Paola Perez-Surillo sold 14,585 shares of EVERTEC stock. The stock was sold at an average price of $37.15, for a total value of $541,832.75.

EVERTEC Trading Down 2.3 %

Shares of EVTC stock traded down $0.84 on Tuesday, hitting $36.06. The stock had a trading volume of 233,189 shares, compared to its average volume of 329,080. The company's 50 day moving average price is $33.79 and its 200-day moving average price is $33.96. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $40.67. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a market capitalization of $2.29 billion, a P/E ratio of 28.17, a P/E/G ratio of 1.43 and a beta of 1.11.

Remove Ads

EVERTEC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.05 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. EVERTEC's dividend payout ratio is presently 11.56%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management UK Ltd. boosted its position in EVERTEC by 100.0% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 40,000 shares of the business services provider's stock valued at $1,381,000 after buying an additional 20,000 shares during the period. Zacks Investment Management acquired a new position in EVERTEC during the 3rd quarter worth $1,258,000. Algert Global LLC increased its holdings in EVERTEC by 1,285.8% during the 3rd quarter. Algert Global LLC now owns 91,341 shares of the business services provider's stock worth $3,096,000 after purchasing an additional 84,750 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of EVERTEC by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider's stock valued at $11,447,000 after buying an additional 33,462 shares during the period. Finally, KBC Group NV boosted its stake in shares of EVERTEC by 34.8% in the 4th quarter. KBC Group NV now owns 3,188 shares of the business services provider's stock valued at $110,000 after buying an additional 823 shares during the period. Hedge funds and other institutional investors own 96.80% of the company's stock.

Analysts Set New Price Targets

EVTC has been the subject of several analyst reports. Morgan Stanley upgraded EVERTEC from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $33.00 to $35.00 in a research report on Thursday, November 21st. William Blair reiterated an "outperform" rating on shares of EVERTEC in a research report on Thursday, February 27th. Finally, Susquehanna upgraded shares of EVERTEC from a "negative" rating to a "neutral" rating and upped their price objective for the stock from $28.00 to $30.00 in a report on Thursday, February 27th.

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.