EMC Capital Management Trims Stock Position in EVERTEC, Inc. (NYSE:EVTC)

EMC Capital Management reduced its stake in EVERTEC, Inc. (NYSE:EVTC) by 30.7% during the 4th quarter, HoldingsChannel reports. The firm owned 6,102 shares of the business services provider’s stock after selling 2,698 shares during the period. EMC Capital Management’s holdings in EVERTEC were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of EVTC. Bank of Montreal Can increased its stake in shares of EVERTEC by 1.1% during the second quarter. Bank of Montreal Can now owns 35,084 shares of the business services provider’s stock worth $1,191,000 after acquiring an additional 381 shares during the period. The Manufacturers Life Insurance Company increased its position in EVERTEC by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,625 shares of the business services provider’s stock worth $1,052,000 after purchasing an additional 882 shares during the period. Algert Global LLC purchased a new position in shares of EVERTEC during the 2nd quarter worth approximately $219,000. Northwestern Mutual Wealth Management Co. lifted 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 valued at $81,000 after buying an additional 2,175 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of EVERTEC in the 3rd quarter valued at approximately $931,000. Institutional investors and hedge funds own 96.80% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Daniel Brignardello sold 3,842 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $36.00, for a total transaction of $138,312.00. Following the completion of the sale, the executive vice president now owns 32,481 shares of the company’s stock, valued at approximately $1,169,316. This trade represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Miguel Vizcarrondo sold 8,123 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.09, for a total transaction of $276,913.07. Following the sale, the executive vice president now owns 113,915 shares of the company’s stock, valued at approximately $3,883,362.35. The trade was a 6.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,308 shares of company stock valued at $2,440,112. Insiders own 0.83% of the company’s stock.

EVERTEC Stock Performance

NYSE EVTC opened at $32.44 on Friday. The business has a 50 day moving average price of $34.20 and a 200 day moving average price of $33.81. The company has a market capitalization of $2.06 billion, a P/E ratio of 25.35, a PEG ratio of 1.38 and a beta of 1.16. 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 current ratio of 1.97 and a quick ratio of 1.97.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The business had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $211.51 million. During the same quarter last year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. Sell-side analysts expect that EVERTEC, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EVTC shares. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $33.00 to $35.00 in a report on Thursday, November 21st. William Blair reiterated an “outperform” rating on shares of EVERTEC in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, EVERTEC has an average rating of “Hold” and an average price target of $35.00.

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.