EVERTEC, Inc. (NYSE:EVTC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 13.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 303,182 shares of the business services provider's stock after selling 47,667 shares during the period. Principal Financial Group Inc. owned 0.47% of EVERTEC worth $10,275,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EVTC. Bank of Montreal Can grew its stake in shares of EVERTEC by 1.1% in the 2nd quarter. Bank of Montreal Can now owns 35,084 shares of the business services provider's stock valued at $1,191,000 after buying an additional 381 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of EVERTEC by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider's stock valued at $1,077,000 after buying an additional 400 shares during the period. nVerses Capital LLC boosted its position in shares of EVERTEC by 12.5% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the business services provider's stock worth $122,000 after purchasing an additional 400 shares during the period. Arizona State Retirement System boosted its position in shares of EVERTEC by 3.2% during the 2nd quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider's stock worth $609,000 after purchasing an additional 561 shares during the period. Finally, Blair William & Co. IL boosted its position in shares of EVERTEC by 2.2% during the 2nd quarter. Blair William & Co. IL now owns 31,918 shares of the business services provider's stock worth $1,061,000 after purchasing an additional 679 shares during the period. Hedge funds and other institutional investors own 96.80% of the company's stock.

Insider Activity

In other news, EVP Miguel Vizcarrondo sold 40,000 shares of the firm's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $34.11, for a total value of $1,364,400.00. Following the sale, the executive vice president now directly owns 129,928 shares in the company, valued at approximately $4,431,844.08. This trade represents a 23.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.83% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Susquehanna cut shares of EVERTEC from a "neutral" rating to a "negative" rating and lowered their price objective for the stock from $38.00 to $28.00 in a research report on Thursday, September 5th.

EVERTEC Stock Up 2.3 %

EVERTEC stock traded up $0.79 during mid-day trading on Tuesday, reaching $35.68. 518,781 shares of the company's stock were exchanged, compared to its average volume of 395,041. The company has a market cap of $2.27 billion, a P/E ratio of 27.87, a P/E/G ratio of 1.58 and a beta of 1.15. EVERTEC, Inc. has a twelve month low of $28.76 and a twelve month high of $42.21. 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 company has a fifty day moving average of $33.60 and a 200-day moving average of $33.85.

EVERTEC (NYSE:EVTC - Get Free Report) last released its earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.13. The company had revenue of $211.80 million for the quarter, compared to analyst estimates of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The firm's quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. Sell-side analysts expect that EVERTEC, Inc. will post 2.55 EPS for the current year.

EVERTEC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, October 28th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. EVERTEC's dividend payout ratio (DPR) is presently 15.63%.

EVERTEC 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.