Texas Permanent School Fund Corp Sells 4,340 Shares of EVERTEC, Inc. (NYSE:EVTC)

Texas Permanent School Fund Corp cut its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 7.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,224 shares of the business services provider’s stock after selling 4,340 shares during the period. Texas Permanent School Fund Corp owned about 0.08% of EVERTEC worth $1,736,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of EVTC. Opal Wealth Advisors LLC bought a new stake in EVERTEC in the second quarter valued at approximately $28,000. Principal Securities Inc. bought a new stake in EVERTEC during the fourth quarter worth $36,000. Benjamin F. Edwards & Company Inc. lifted its stake in EVERTEC by 113.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,642 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 873 shares during the last quarter. EntryPoint Capital LLC boosted its stake in shares of EVERTEC by 48.9% during the 1st quarter. EntryPoint Capital LLC now owns 2,761 shares of the business services provider’s stock worth $110,000 after acquiring an additional 907 shares during the period. Finally, nVerses Capital LLC boosted its stake in EVERTEC by 68.4% in the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 1,300 shares during the period. Institutional investors own 96.80% of the company’s stock.

Analyst Upgrades and Downgrades

EVTC has been the subject of several recent analyst reports. Susquehanna downgraded EVERTEC from a “neutral” rating to a “negative” rating and dropped their price objective for the stock from $38.00 to $28.00 in a research report on Thursday, September 5th. Keefe, Bruyette & Woods cut their target price on EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $34.33.

EVERTEC Price Performance

Shares of EVERTEC stock opened at $33.98 on Thursday. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 34.32, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. The company has a fifty day moving average of $33.48 and a 200-day moving average of $35.22. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $42.21. 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 (NYSE:EVTC) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.19. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. The business had revenue of $211.98 million during the quarter, compared to analysts’ expectations of $209.40 million. Equities research analysts expect that EVERTEC, Inc. will post 2.53 EPS for the current year.

EVERTEC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Monday, July 29th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $0.20 annualized dividend and a yield of 0.59%. EVERTEC’s dividend payout ratio (DPR) is presently 20.20%.

Insider Buying and Selling

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at approximately $4,431,844.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $35.10, for a total value of $1,263,600.00. Following the completion of the transaction, the executive vice president now directly owns 39,370 shares of the company’s stock, valued at approximately $1,381,887. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the sale, the executive vice president now owns 129,928 shares in the company, valued at $4,431,844.08. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate insiders.

EVERTEC Company 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.