EVERTEC, Inc. (NYSE:EVTC) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its stake in EVERTEC, Inc. (NYSE:EVTC) by 22.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,339 shares of the business services provider’s stock after selling 3,831 shares during the period. Truist Financial Corp’s holdings in EVERTEC were worth $444,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in EVTC. Nordea Investment Management AB grew its holdings in shares of EVERTEC by 29.2% in the 1st quarter. Nordea Investment Management AB now owns 217,123 shares of the business services provider’s stock worth $8,770,000 after acquiring an additional 49,115 shares during the last quarter. Edgestream Partners L.P. bought a new stake in EVERTEC during the 2nd quarter worth approximately $8,143,000. Aptus Capital Advisors LLC grew its position in EVERTEC by 24.8% during the 2nd quarter. Aptus Capital Advisors LLC now owns 88,055 shares of the business services provider’s stock worth $2,928,000 after acquiring an additional 17,475 shares during the last quarter. Invenomic Capital Management LP bought a new position in EVERTEC in the 1st quarter valued at $2,407,000. Finally, ProShare Advisors LLC boosted its position in EVERTEC by 7.2% in the 1st quarter. ProShare Advisors LLC now owns 13,163 shares of the business services provider’s stock valued at $525,000 after buying an additional 882 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.

EVERTEC Trading Up 0.3 %

EVERTEC stock opened at $33.46 on Thursday. EVERTEC, Inc. has a 52 week low of $28.76 and a 52 week high of $42.21. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a market capitalization of $2.16 billion, a P/E ratio of 33.81, a PEG ratio of 1.64 and a beta of 1.15. The stock has a 50-day simple moving average of $33.27 and a 200 day simple moving average of $34.60.

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

Insider Activity

In other news, EVP Miguel Vizcarrondo sold 40,000 shares of EVERTEC stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 129,928 shares in the company, valued at approximately $4,431,844.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the transaction, the executive vice president now directly owns 129,928 shares in the company, valued at $4,431,844.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $35.10, for a total transaction of $1,263,600.00. Following the transaction, the executive vice president now owns 39,370 shares of the company’s stock, valued at $1,381,887. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on EVTC shares. Susquehanna lowered EVERTEC from a “neutral” rating to a “negative” rating and reduced their price target for the stock from $38.00 to $28.00 in a research report on Thursday, September 5th. Keefe, Bruyette & Woods decreased their price objective on EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.