Renaissance Technologies LLC Sells 151,900 Shares of EVERTEC, Inc. (NYSE:EVTC)

Renaissance Technologies LLC lessened its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 22.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 513,526 shares of the business services provider’s stock after selling 151,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.80% of EVERTEC worth $17,075,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in EVERTEC by 29.2% during 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. Norges Bank bought a new position in EVERTEC during the fourth quarter valued at approximately $19,626,000. Aptus Capital Advisors LLC raised its position in EVERTEC by 24.8% during the second quarter. Aptus Capital Advisors LLC now owns 88,055 shares of the business services provider’s stock valued at $2,928,000 after acquiring an additional 17,475 shares in the last quarter. Invenomic Capital Management LP bought a new position in shares of EVERTEC in the first quarter valued at approximately $2,407,000. Finally, ProShare Advisors LLC raised its position in shares of EVERTEC by 7.2% in the first quarter. ProShare Advisors LLC now owns 13,163 shares of the business services provider’s stock valued at $525,000 after purchasing an additional 882 shares during the period. Institutional investors own 96.80% of the company’s stock.

Insider Transactions at EVERTEC

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

Analysts Set New Price Targets

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

EVERTEC Trading Down 2.7 %

Shares of EVERTEC stock opened at $33.02 on Friday. The company’s fifty day simple moving average is $33.52 and its 200-day simple moving average is $35.17. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 33.35, a PEG ratio of 1.63 and a beta of 1.15. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.92. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $42.21.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.19. The business had revenue of $211.98 million for the quarter, compared to the consensus estimate of $209.40 million. EVERTEC had a net margin of 8.84% and a return on equity of 32.08%. As a group, sell-side analysts expect that EVERTEC, Inc. will post 2.53 EPS for the current 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. The ex-dividend date was Monday, July 29th. This represents a $0.20 annualized dividend and a dividend yield of 0.61%. EVERTEC’s payout ratio is 20.20%.

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.