Victory Capital Management Inc. Has $72.76 Million Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Victory Capital Management Inc. trimmed its position in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 6.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,146,829 shares of the business services provider's stock after selling 151,544 shares during the period. Victory Capital Management Inc. owned approximately 3.36% of EVERTEC worth $72,756,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in EVTC. American Century Companies Inc. grew its holdings in EVERTEC by 5.0% in the 2nd quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider's stock valued at $145,318,000 after buying an additional 208,183 shares during the last quarter. Capital International Investors grew its stake in shares of EVERTEC by 0.3% in the first quarter. Capital International Investors now owns 3,141,051 shares of the business services provider's stock worth $125,328,000 after acquiring an additional 9,110 shares during the last quarter. River Road Asset Management LLC increased its position in 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 acquiring an additional 5,899 shares during the period. North Star Asset Management Inc. raised its stake in EVERTEC by 0.7% during the 2nd quarter. North Star Asset Management Inc. now owns 740,234 shares of the business services provider's stock valued at $24,613,000 after purchasing an additional 5,475 shares during the last quarter. Finally, Capital Group Private Client Services Inc. boosted its holdings in EVERTEC by 12.8% in the 1st quarter. Capital Group Private Client Services Inc. now owns 494,836 shares of the business services provider's stock valued at $19,744,000 after purchasing an additional 56,097 shares during the period. 96.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Susquehanna cut shares of EVERTEC from a "neutral" rating to a "negative" rating and reduced their target price for the company from $38.00 to $28.00 in a research note on Thursday, September 5th.

Insiders Place Their Bets

In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of the company's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the sale, the executive vice president now directly owns 129,928 shares of the company's stock, valued at approximately $4,431,844.08. This represents a 23.54 % 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 link. Corporate insiders own 0.83% of the company's stock.

EVERTEC Price Performance

Shares of EVTC stock traded down $0.62 during mid-day trading on Thursday, reaching $34.45. The company's stock had a trading volume of 248,543 shares, compared to its average volume of 394,952. The firm's 50-day moving average is $33.38 and its two-hundred day moving average is $33.94. The company has a market cap of $2.19 billion, a P/E ratio of 26.91, a PEG ratio of 1.63 and a beta of 1.15. EVERTEC, Inc. has a 1-year low of $28.76 and a 1-year high of $42.21. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.82 and a current ratio of 1.97.

EVERTEC (NYSE:EVTC - Get Free Report) last posted its quarterly earnings results 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 during 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 company's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 earnings per share. On average, research analysts predict that EVERTEC, Inc. will post 2.55 earnings per share for the current year.

EVERTEC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, October 28th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Monday, October 28th. EVERTEC's dividend payout ratio (DPR) is 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.