EVERTEC, Inc. (NYSE:EVTC) CEO Morgan M. Schuessler Sells 80,000 Shares

EVERTEC, Inc. (NYSE:EVTC - Get Free Report) CEO Morgan M. Schuessler sold 80,000 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $37.45, for a total value of $2,996,000.00. Following the completion of the transaction, the chief executive officer now directly owns 282,172 shares of the company's stock, valued at approximately $10,567,341.40. This trade represents a 22.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

EVERTEC Trading Down 2.3 %

NYSE EVTC traded down $0.84 during trading on Tuesday, reaching $36.06. 233,189 shares of the stock traded hands, compared to its average volume of 329,080. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $40.67. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. The stock's 50-day moving average price is $33.79 and its 200 day moving average price is $33.96.

EVERTEC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 3rd will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, March 3rd. EVERTEC's dividend payout ratio is currently 11.56%.

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Institutional Trading of EVERTEC

Several hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its holdings in shares of EVERTEC by 4,525.0% during the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock worth $26,000 after acquiring an additional 724 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of EVERTEC during the third quarter worth about $28,000. Fifth Third Bancorp grew its holdings in shares of EVERTEC by 52.1% during the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider's stock worth $41,000 after buying an additional 402 shares in the last quarter. Smartleaf Asset Management LLC raised its position in EVERTEC by 199.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider's stock valued at $41,000 after buying an additional 794 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in EVERTEC in the 4th quarter valued at approximately $54,000. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EVTC. Susquehanna raised shares of EVERTEC from a "negative" rating to a "neutral" rating and raised their price objective for the stock from $28.00 to $30.00 in a report on Thursday, February 27th. 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. Finally, William Blair reaffirmed an "outperform" rating on shares of EVERTEC in a report on Thursday, February 27th.

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.