EVERTEC, Inc. (NYSE:EVTC) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 11.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 337,776 shares of the business services provider’s stock after purchasing an additional 33,462 shares during the quarter. JPMorgan Chase & Co. owned 0.53% of EVERTEC worth $11,447,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Bank of Montreal Can lifted its stake in shares of EVERTEC by 1.1% in the 2nd quarter. Bank of Montreal Can now owns 35,084 shares of the business services provider’s stock valued at $1,191,000 after purchasing an additional 381 shares during the period. nVerses Capital LLC lifted its stake in EVERTEC by 12.5% in the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the business services provider’s stock valued at $122,000 after buying an additional 400 shares in the last quarter. Arizona State Retirement System boosted its holdings in EVERTEC by 3.2% in the 2nd quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider’s stock worth $609,000 after buying an additional 561 shares during the last quarter. Blair William & Co. IL increased its stake in EVERTEC by 2.2% during the 2nd quarter. Blair William & Co. IL now owns 31,918 shares of the business services provider’s stock worth $1,061,000 after buying an additional 679 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of EVERTEC by 0.4% in the second quarter. Rhumbline Advisers now owns 178,806 shares of the business services provider’s stock valued at $5,945,000 after acquiring an additional 761 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on EVTC shares. Morgan Stanley upgraded shares of EVERTEC from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $33.00 to $35.00 in a research report on Thursday, November 21st. William Blair reiterated an “outperform” rating on shares of EVERTEC in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, EVERTEC currently has a consensus rating of “Hold” and an average price target of $35.00.

Insiders Place Their Bets

In other EVERTEC news, EVP Miguel Vizcarrondo sold 8,123 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $34.09, for a total transaction of $276,913.07. Following the sale, the executive vice president now directly owns 113,915 shares of the company’s stock, valued at $3,883,362.35. This trade represents a 6.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $36.08, for a total transaction of $1,748,184.24. Following the transaction, the chief financial officer now directly owns 54,998 shares in the company, valued at $1,984,327.84. The trade was a 46.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,308 shares of company stock worth $2,440,112. 0.83% of the stock is owned by company insiders.

EVERTEC Price Performance

Shares of EVTC opened at $31.89 on Monday. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 1.60 and a beta of 1.16. The firm’s fifty day simple moving average is $34.86 and its 200-day simple moving average is $33.83. EVERTEC, Inc. has a twelve month low of $28.76 and a twelve month high of $42.21. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84.

EVERTEC (NYSE:EVTC) last issued its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.13. The company had revenue of $211.80 million for the quarter, compared to analyst estimates of $211.51 million. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 earnings per share. Equities analysts forecast that EVERTEC, Inc. will post 2.55 EPS for the current fiscal year.

EVERTEC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, October 28th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. EVERTEC’s payout ratio is currently 15.63%.

About EVERTEC

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.