State Street Corp Has $84.53 Million Position in EVERTEC, Inc. (NYSE:EVTC)

State Street Corp boosted its stake in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 1.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,494,349 shares of the business services provider's stock after purchasing an additional 34,410 shares during the quarter. State Street Corp owned approximately 3.92% of EVERTEC worth $84,533,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of EVERTEC during the third quarter valued at about $55,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of EVERTEC by 866.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider's stock valued at $81,000 after acquiring an additional 2,175 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of EVERTEC by 90.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider's stock worth $104,000 after buying an additional 1,490 shares during the period. nVerses Capital LLC boosted its position in EVERTEC by 68.4% during the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider's stock worth $106,000 after acquiring an additional 1,300 shares during the period. Finally, Algert Global LLC purchased a new position in EVERTEC during the second quarter valued at approximately $219,000. 96.80% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 54,998 shares of the company's stock, valued at $1,984,327.84. The trade was a 46.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Daniel Brignardello sold 3,842 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $36.00, for a total value of $138,312.00. Following the completion of the transaction, the executive vice president now owns 32,481 shares in the company, valued at $1,169,316. This represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley upgraded EVERTEC from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $33.00 to $35.00 in a research note on Thursday, November 21st. Susquehanna lowered EVERTEC from a "neutral" rating to a "negative" rating and lowered their target price for the company from $38.00 to $28.00 in a report on Thursday, September 5th.

EVERTEC Stock Performance

Shares of EVTC traded down $0.35 on Tuesday, reaching $34.85. 245,556 shares of the stock traded hands, compared to its average volume of 384,146. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 1.63 and a beta of 1.16. 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 stock's 50-day moving average price is $34.41 and its 200-day moving average price is $33.74. EVERTEC, Inc. has a 12 month low of $28.76 and a 12 month high of $42.21.

EVERTEC (NYSE:EVTC - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 33.01% and a net margin of 10.20%. The company's revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. Equities analysts forecast that EVERTEC, Inc. will post 2.55 EPS for the current fiscal year.

EVERTEC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, October 28th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. EVERTEC's dividend payout ratio is 15.63%.

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.