HighTower Advisors LLC Reduces Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

HighTower Advisors LLC reduced its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,443 shares of the business services provider’s stock after selling 551 shares during the period. HighTower Advisors LLC owned approximately 0.05% of EVERTEC worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of EVERTEC during the third quarter valued at $55,000. Northwestern Mutual Wealth Management Co. lifted its position in EVERTEC by 866.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock worth $81,000 after acquiring an additional 2,175 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in EVERTEC by 90.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 1,490 shares during the last quarter. nVerses Capital LLC increased its holdings in shares of EVERTEC by 68.4% in the second 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. Finally, Algert Global LLC acquired a new position in shares of EVERTEC in the second quarter valued at about $219,000. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $33.00 to $35.00 in a report on Thursday, November 21st. Susquehanna cut shares of EVERTEC from a “neutral” rating to a “negative” rating and decreased their price objective for the company from $38.00 to $28.00 in a research note on Thursday, September 5th.

EVERTEC Stock Performance

Shares of EVTC stock opened at $34.85 on Wednesday. The stock has a market cap of $2.22 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $42.21. The business has a 50-day simple moving average of $34.41 and a 200-day simple moving average of $33.74. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The company had revenue of $211.80 million during the quarter, compared to the consensus estimate of $211.51 million. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. EVERTEC’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. On average, equities analysts expect that EVERTEC, Inc. will post 2.55 EPS for the current year.

EVERTEC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, October 28th were given a dividend of $0.05 per share. The ex-dividend date was Monday, October 28th. This represents a $0.20 annualized dividend and a yield of 0.57%. EVERTEC’s dividend payout ratio is presently 15.63%.

Insider Buying and Selling at EVERTEC

In related news, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of EVERTEC stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $36.08, for a total value of $1,748,184.24. Following the sale, the chief financial officer now owns 54,998 shares of the company’s stock, valued at approximately $1,984,327.84. This trade represents a 46.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Brignardello sold 3,842 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $36.00, for a total transaction of $138,312.00. Following the transaction, the executive vice president now owns 32,481 shares of the company’s stock, valued at $1,169,316. This represents a 10.58 % decrease in their ownership of the stock. 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.