Millennium Management LLC Trims Holdings in EVERTEC, Inc. (NYSE:EVTC)

Millennium Management LLC lessened its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 51.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,217 shares of the business services provider’s stock after selling 183,638 shares during the period. Millennium Management LLC owned about 0.27% of EVERTEC worth $5,759,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can grew its holdings in shares of EVERTEC by 1.1% during the 2nd 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. Public Sector Pension Investment Board boosted its position in shares of EVERTEC by 7.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 141,710 shares of the business services provider’s stock worth $4,712,000 after purchasing an additional 9,229 shares in the last quarter. Sei Investments Co. boosted its position in shares of EVERTEC by 7.9% in the 2nd quarter. Sei Investments Co. now owns 480,616 shares of the business services provider’s stock worth $15,981,000 after purchasing an additional 35,118 shares in the last quarter. Bridges Investment Management Inc. bought a new stake in shares of EVERTEC in the 2nd quarter worth approximately $280,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of EVERTEC by 90.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock worth $104,000 after purchasing an additional 1,490 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Insider Transactions at EVERTEC

In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of the 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 completion of the sale, the executive vice president now owns 129,928 shares in the company, valued at approximately $4,431,844.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of the 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 completion of the sale, the executive vice president now owns 129,928 shares in the company, valued at approximately $4,431,844.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the 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 sale, the executive vice president now owns 39,370 shares of the company’s stock, valued at $1,381,887. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.

EVERTEC Price Performance

NYSE EVTC opened at $33.17 on Friday. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.64 and a beta of 1.15. EVERTEC, Inc. has a 1-year low of $28.76 and a 1-year high of $42.21. The business’s fifty day moving average price is $33.24 and its 200-day moving average price is $34.75.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.54 by $0.19. The firm had revenue of $211.98 million during the quarter, compared to analyst estimates of $209.40 million. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. On average, equities analysts predict that EVERTEC, Inc. will post 2.53 earnings per share 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 0.60%. EVERTEC’s dividend payout ratio (DPR) is 19.05%.

Analysts Set New Price Targets

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

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.