Everence Capital Management Inc. Purchases Shares of 10,810 EVERTEC, Inc. (NYSE:EVTC)


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Everence Capital Management Inc. purchased a new stake in EVERTEC, Inc. (NYSE:EVTC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,810 shares of the business services provider’s stock, valued at approximately $402,000.

A number of other institutional investors have also made changes to their positions in EVTC. Vantage Consulting Group Inc bought a new stake in EVERTEC in the 4th quarter valued at $32,000. Lazard Asset Management LLC grew its holdings in shares of EVERTEC by 351.5% in the 4th quarter. Lazard Asset Management LLC now owns 1,174 shares of the business services provider’s stock worth $46,000 after purchasing an additional 914 shares during the last quarter. Veriti Management LLC bought a new stake in shares of EVERTEC in the 4th quarter worth about $79,000. SG Americas Securities LLC bought a new stake in shares of EVERTEC in the 4th quarter worth about $176,000. Finally, Blair William & Co. IL bought a new stake in shares of EVERTEC in the 4th quarter worth about $201,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on EVTC. Raymond James upped their target price on shares of EVERTEC from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, March 8th. Zacks Investment Research lowered shares of EVERTEC from a “hold” rating to a “sell” rating in a report on Thursday, March 4th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $34.00 target price on shares of EVERTEC in a report on Monday, March 15th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. EVERTEC has an average rating of “Hold” and a consensus target price of $37.67.

In related news, CEO Morgan M. Schuessler sold 11,101 shares of the stock in a transaction that occurred on Thursday, March 11th. The stock was sold at an average price of $37.13, for a total transaction of $412,180.13. Following the completion of the sale, the chief executive officer now directly owns 325,991 shares of the company’s stock, valued at approximately $12,104,045.83. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Guillermo Rospigliosi sold 24,444 shares of the firm’s stock in a transaction that occurred on Thursday, March 18th. The stock was sold at an average price of $39.43, for a total transaction of $963,826.92. Following the transaction, the executive vice president now directly owns 25,382 shares of the company’s stock, valued at $1,000,812.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 176,889 shares of company stock valued at $6,620,565. 0.80% of the stock is owned by company insiders.

EVERTEC stock opened at $39.81 on Tuesday. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 1.56. EVERTEC, Inc. has a 1 year low of $22.02 and a 1 year high of $42.35. The company has a market cap of $2.87 billion, a PE ratio of 30.16 and a beta of 1.14. The company’s 50-day moving average is $37.78 and its two-hundred day moving average is $37.47.

EVERTEC (NYSE:EVTC) last released its earnings results on Sunday, February 28th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. EVERTEC had a net margin of 19.30% and a return on equity of 47.02%. The company had revenue of $134.20 million for the quarter, compared to the consensus estimate of $133.45 million. During the same period in the prior year, the company posted $0.48 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. Research analysts forecast that EVERTEC, Inc. will post 1.88 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 26th. Investors of record on Monday, March 1st were paid a dividend of $0.05 per share. The ex-dividend date was Friday, February 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.50%. EVERTEC’s payout ratio is 11.05%.

About EVERTEC

EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; 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.

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Institutional Ownership by Quarter for EVERTEC (NYSE:EVTC)

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