Willis Investment Counsel Purchases 9,482 Shares of EVERTEC, Inc. (NYSE:EVTC)

Willis Investment Counsel raised its stake in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 37.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,602 shares of the business services provider's stock after buying an additional 9,482 shares during the period. Willis Investment Counsel owned approximately 0.05% of EVERTEC worth $1,195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in EVERTEC during the third quarter valued at about $28,000. Fifth Third Bancorp lifted its holdings in EVERTEC by 52.1% in the 4th quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider's stock valued at $41,000 after acquiring an additional 402 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of EVERTEC during the 3rd quarter valued at about $55,000. Blue Trust Inc. grew its stake in shares of EVERTEC by 55.2% in the 4th quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider's stock worth $73,000 after purchasing an additional 764 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings 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 worth $81,000 after purchasing an additional 2,175 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on EVTC. Morgan Stanley upgraded shares of EVERTEC from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $33.00 to $35.00 in a research report on Thursday, November 21st. William Blair reissued an "outperform" rating on shares of EVERTEC in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $35.00.

EVERTEC Trading Down 0.3 %

Shares of EVTC stock traded down $0.09 during trading hours on Thursday, reaching $32.69. 245,633 shares of the stock traded hands, compared to its average volume of 257,185. EVERTEC, Inc. has a 1-year low of $28.76 and a 1-year high of $42.21. The business has a fifty day moving average price of $33.91 and a 200 day moving average price of $33.76. 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 capitalization of $2.08 billion, a PE ratio of 25.54, a PEG ratio of 1.40 and a beta of 1.15.

EVERTEC (NYSE:EVTC - Get Free Report) last announced its earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) 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 the consensus estimate of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The company's revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 EPS. On average, equities research analysts forecast that EVERTEC, Inc. will post 2.63 EPS for the current year.

Insider Activity

In other news, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $36.08, for a total value of $1,748,184.24. Following the transaction, the chief financial officer now directly owns 54,998 shares of the company's stock, valued at approximately $1,984,327.84. This represents a 46.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Daniel Brignardello sold 3,842 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 32,481 shares in the company, valued at $1,169,316. This trade represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,308 shares of company stock worth $2,440,112. 0.83% of the stock is owned by corporate insiders.

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.