Aristides Capital LLC Purchases 12,100 Shares of EVERTEC, Inc. (NYSE:EVTC)

Aristides Capital LLC raised its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 39.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 42,419 shares of the business services provider’s stock after acquiring an additional 12,100 shares during the period. Aristides Capital LLC owned approximately 0.07% of EVERTEC worth $1,410,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of EVERTEC by 866.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock valued at $81,000 after buying an additional 2,175 shares during the period. Algert Global LLC bought a new stake in EVERTEC during the 2nd quarter worth approximately $219,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of EVERTEC in the second quarter valued at approximately $2,762,000. The Manufacturers Life Insurance Company raised its holdings in shares of EVERTEC by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 31,625 shares of the business services provider’s stock worth $1,052,000 after acquiring an additional 882 shares during the period. Finally, Bank of Montreal Can lifted its position in 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 acquiring an additional 381 shares in the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Miguel Vizcarrondo sold 40,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $34.11, for a total value of $1,364,400.00. Following the transaction, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at $4,431,844.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Miguel Vizcarrondo sold 40,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 129,928 shares of the company’s stock, valued at $4,431,844.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of EVERTEC stock in a transaction that occurred 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 sale, the executive vice president now directly owns 39,370 shares of the company’s stock, valued at $1,381,887. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on EVTC. Susquehanna downgraded EVERTEC from a “neutral” rating to a “negative” rating and decreased their price objective for the stock from $38.00 to $28.00 in a report on Thursday, September 5th. Keefe, Bruyette & Woods cut their price objective 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 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. Based on data from MarketBeat.com, EVERTEC currently has an average rating of “Hold” and an average target price of $34.33.

EVERTEC Price Performance

NYSE:EVTC opened at $33.90 on Tuesday. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 34.24, a price-to-earnings-growth ratio of 1.66 and a beta of 1.15. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.92. EVERTEC, Inc. has a twelve month low of $28.76 and a twelve month high of $42.21. The stock’s 50 day moving average price is $33.42 and its two-hundred day moving average price is $34.98.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.19. The business had revenue of $211.98 million during the quarter, compared to analysts’ expectations of $209.40 million. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. Equities research analysts expect that EVERTEC, Inc. will post 2.53 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, July 29th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.59%. The ex-dividend date was Monday, July 29th. EVERTEC’s dividend 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.