Bailard Inc. Acquires New Holdings in EVERTEC, Inc. (NYSE:EVTC)

Bailard Inc. acquired a new stake in shares of EVERTEC, Inc. (NYSE:EVTC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,900 shares of the business services provider’s stock, valued at approximately $610,000.

Other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System purchased a new position in EVERTEC during the fourth quarter valued at approximately $1,347,000. Envestnet Asset Management Inc. increased its holdings in EVERTEC by 73.1% during the third quarter. Envestnet Asset Management Inc. now owns 409,002 shares of the business services provider’s stock valued at $15,207,000 after buying an additional 172,692 shares during the period. Pathstone Family Office LLC grew its holdings in EVERTEC by 5.8% in the third quarter. Pathstone Family Office LLC now owns 319,935 shares of the business services provider’s stock worth $11,895,000 after purchasing an additional 17,467 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in EVERTEC by 50.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 92,800 shares of the business services provider’s stock worth $3,450,000 after purchasing an additional 31,300 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in EVERTEC by 16.2% in the third quarter. Loomis Sayles & Co. L P now owns 1,452,050 shares of the business services provider’s stock worth $53,987,000 after purchasing an additional 202,757 shares during the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on EVTC shares. StockNews.com lowered shares of EVERTEC from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Morgan Stanley lifted their price target on shares of EVERTEC from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, EVERTEC presently has a consensus rating of “Hold” and an average target price of $41.33.

Insider Activity

In other news, Director Frank G. D’angelo sold 16,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $37.43, for a total transaction of $598,880.00. Following the sale, the director now directly owns 10,380 shares of the company’s stock, valued at $388,523.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Frank G. D’angelo sold 16,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $37.43, for a total transaction of $598,880.00. Following the completion of the transaction, the director now directly owns 10,380 shares in the company, valued at $388,523.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Morgan M. Schuessler sold 100,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the transaction, the chief executive officer now owns 347,941 shares of the company’s stock, valued at $12,939,925.79. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

EVERTEC Price Performance

Shares of EVTC opened at $38.43 on Friday. The firm has a market capitalization of $2.48 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 2.26 and a beta of 1.20. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.88 and a quick ratio of 1.88. EVERTEC, Inc. has a 1-year low of $31.56 and a 1-year high of $42.21. The company’s fifty day moving average price is $38.49 and its 200-day moving average price is $38.19.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings data on Wednesday, February 28th. The business services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The company had revenue of $194.62 million for the quarter, compared to analysts’ expectations of $179.86 million. EVERTEC had a net margin of 11.48% and a return on equity of 29.73%. On average, equities research analysts predict that EVERTEC, Inc. will post 2.33 EPS for the current year.

EVERTEC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, April 29th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Friday, April 26th. EVERTEC’s dividend payout ratio (DPR) is presently 16.53%.

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.