Morgan M. Schuessler Sells 80,000 Shares of EVERTEC, Inc. (NYSE:EVTC) Stock

EVERTEC, Inc. (NYSE:EVTC) CEO Morgan M. Schuessler sold 80,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $37.45, for a total value of $2,996,000.00. Following the transaction, the chief executive officer now owns 282,172 shares of the company’s stock, valued at approximately $10,567,341.40. The trade was a 22.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

EVERTEC Stock Down 0.6 %

Shares of EVTC opened at $37.24 on Friday. 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, Inc. has a 12 month low of $28.76 and a 12 month high of $40.67. The stock’s 50 day moving average is $33.74 and its two-hundred day moving average is $33.92. The firm has a market cap of $2.37 billion, a P/E ratio of 29.09, a PEG ratio of 1.43 and a beta of 1.11.

EVERTEC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 3rd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Monday, March 3rd. EVERTEC’s payout ratio is currently 11.56%.

Institutional Trading of EVERTEC

A number of institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in EVERTEC by 4,525.0% during the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock worth $26,000 after buying an additional 724 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of EVERTEC in the 3rd quarter valued at $28,000. Fifth Third Bancorp raised its holdings in shares of EVERTEC by 52.1% in the 4th quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock valued at $41,000 after buying an additional 402 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of EVERTEC by 199.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock valued at $41,000 after buying an additional 794 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in shares of EVERTEC in the 4th quarter valued at $54,000. 96.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EVTC shares. Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $33.00 to $35.00 in a report on Thursday, November 21st. William Blair reissued an “outperform” rating on shares of EVERTEC in a report on Thursday, February 27th. Finally, Susquehanna raised EVERTEC from a “negative” rating to a “neutral” rating and increased their price objective for the company from $28.00 to $30.00 in a report on Thursday, February 27th.

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.