JPMorgan Chase & Co. Buys 33,462 Shares of EVERTEC, Inc. (NYSE:EVTC)

JPMorgan Chase & Co. raised its stake in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 11.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 337,776 shares of the business services provider's stock after acquiring an additional 33,462 shares during the period. JPMorgan Chase & Co. owned 0.53% of EVERTEC worth $11,447,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC increased its position in EVERTEC by 36.6% in the third quarter. FMR LLC now owns 9,114,244 shares of the business services provider's stock worth $308,882,000 after buying an additional 2,440,680 shares during the period. State Street Corp raised its holdings in shares of EVERTEC by 1.4% during the third quarter. State Street Corp now owns 2,494,349 shares of the business services provider's stock valued at $84,533,000 after buying an additional 34,410 shares during the last quarter. River Road Asset Management LLC boosted its position in shares of EVERTEC by 0.3% during the third quarter. River Road Asset Management LLC now owns 1,966,626 shares of the business services provider's stock worth $66,649,000 after buying an additional 5,899 shares during the period. Natixis Advisors LLC grew its holdings in EVERTEC by 9.9% in the 3rd quarter. Natixis Advisors LLC now owns 582,608 shares of the business services provider's stock worth $19,745,000 after buying an additional 52,586 shares in the last quarter. Finally, Sei Investments Co. increased its position in EVERTEC by 7.9% in the 2nd quarter. Sei Investments Co. now owns 480,616 shares of the business services provider's stock valued at $15,981,000 after acquiring an additional 35,118 shares during the period. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EVTC has been the topic of a number of recent analyst reports. William Blair restated an "outperform" rating on shares of EVERTEC in a research note on Wednesday, December 18th. Morgan Stanley raised EVERTEC from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $33.00 to $35.00 in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $35.00.

Insider Transactions at EVERTEC

In other news, EVP Daniel Brignardello sold 3,842 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $36.00, for a total value of $138,312.00. Following the completion of the sale, the executive vice president now directly owns 32,481 shares in the company, valued at approximately $1,169,316. The trade was a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 54,998 shares in the company, valued at $1,984,327.84. The trade was a 46.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,308 shares of company stock valued at $2,440,112 over the last quarter. Company insiders own 0.83% of the company's stock.

EVERTEC Price Performance

Shares of NYSE:EVTC opened at $31.58 on Monday. The stock has a fifty day moving average of $34.86 and a 200-day moving average of $33.83. The company has a market capitalization of $2.01 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 1.60 and a beta of 1.16. 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, Inc. has a one year low of $28.76 and a one year high of $42.21.

EVERTEC (NYSE:EVTC - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.13. The firm had revenue of $211.80 million for the quarter, compared to the consensus estimate of $211.51 million. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. As a group, equities analysts anticipate that EVERTEC, Inc. will post 2.55 EPS for the current fiscal year.

EVERTEC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, October 28th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.63%. The ex-dividend date was Monday, October 28th. EVERTEC's dividend payout ratio (DPR) is currently 15.63%.

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.