Willis Investment Counsel Sells 9,168 Shares of EVERTEC, Inc. (NYSE:EVTC)

Willis Investment Counsel lowered its position in EVERTEC, Inc. (NYSE:EVTC) by 26.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,120 shares of the business services provider’s stock after selling 9,168 shares during the period. Willis Investment Counsel’s holdings in EVERTEC were worth $851,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB lifted its position in shares of EVERTEC by 29.2% in the first quarter. Nordea Investment Management AB now owns 217,123 shares of the business services provider’s stock valued at $8,770,000 after acquiring an additional 49,115 shares in the last quarter. Edgestream Partners L.P. purchased a new position in EVERTEC in the 2nd quarter worth approximately $8,143,000. Aptus Capital Advisors LLC boosted its stake in EVERTEC by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 88,055 shares of the business services provider’s stock worth $2,928,000 after purchasing an additional 17,475 shares during the period. Invenomic Capital Management LP purchased a new stake in EVERTEC during the 1st quarter valued at approximately $2,407,000. Finally, ProShare Advisors LLC raised its position in shares of EVERTEC by 7.2% during the first quarter. ProShare Advisors LLC now owns 13,163 shares of the business services provider’s stock valued at $525,000 after buying an additional 882 shares during the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

EVERTEC Trading Up 0.6 %

EVTC stock opened at $33.16 on Monday. The firm has a market cap of $2.14 billion, a PE ratio of 33.49, a price-to-earnings-growth ratio of 1.64 and a beta of 1.15. The firm has a fifty day moving average price of $33.24 and a 200 day moving average price of $34.69. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.82 and a current ratio of 1.82. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $42.21.

EVERTEC (NYSE:EVTC) last announced its earnings results on Wednesday, July 31st. The business services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.19. EVERTEC had a net margin of 8.84% and a return on equity of 32.08%. The firm had revenue of $211.98 million for the quarter, compared to analysts’ expectations of $209.40 million. Sell-side analysts anticipate that EVERTEC, Inc. will post 2.53 earnings per share for the current fiscal year.

EVERTEC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, July 29th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Monday, July 29th. EVERTEC’s payout ratio is 20.20%.

Insider Transactions at EVERTEC

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the stock in a transaction on Thursday, August 29th. The stock was 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 owns 129,928 shares in the company, valued at approximately $4,431,844.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $35.10, for a total transaction of $1,263,600.00. Following the transaction, the executive vice president now owns 39,370 shares of the company’s stock, valued at approximately $1,381,887. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was 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 of the company’s stock, valued at $4,431,844.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Susquehanna downgraded shares of EVERTEC from a “neutral” rating to a “negative” rating and dropped their price objective for the company from $38.00 to $28.00 in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, EVERTEC presently has a consensus rating of “Hold” and an average price target of $34.33.

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.