EVERTEC, Inc. (NYSE:EVTC) Holdings Lowered by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in shares of EVERTEC, Inc. (NYSE:EVTC) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,154 shares of the business services provider’s stock after selling 356 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of EVERTEC worth $1,248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EVTC. FMR LLC raised its position in shares of EVERTEC by 36.6% during the 3rd quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock worth $308,882,000 after buying an additional 2,440,680 shares in the last quarter. DF Dent & Co. Inc. grew its stake in shares of EVERTEC by 27.5% in the 3rd quarter. DF Dent & Co. Inc. now owns 455,454 shares of the business services provider’s stock worth $15,435,000 after purchasing an additional 98,341 shares during the last quarter. Barclays PLC grew its stake in shares of EVERTEC by 385.6% in the 3rd quarter. Barclays PLC now owns 115,398 shares of the business services provider’s stock worth $3,910,000 after purchasing an additional 91,632 shares during the last quarter. Algert Global LLC grew its stake in shares of EVERTEC by 1,285.8% in the 3rd quarter. Algert Global LLC now owns 91,341 shares of the business services provider’s stock worth $3,096,000 after purchasing an additional 84,750 shares during the last quarter. Finally, Natixis Advisors LLC grew its stake in shares of EVERTEC by 9.9% in the 3rd quarter. Natixis Advisors LLC now owns 582,608 shares of the business services provider’s stock worth $19,745,000 after purchasing an additional 52,586 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors.

EVERTEC Stock Performance

EVERTEC stock opened at $33.01 on Thursday. The firm’s 50 day simple moving average is $33.63 and its 200-day simple moving average is $33.71. The company has a market cap of $2.10 billion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 1.40 and a beta of 1.15. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $42.21.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EVTC shares. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a research note on Wednesday, December 18th. Morgan Stanley raised shares of EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $33.00 to $35.00 in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.00.

Insider Transactions at EVERTEC

In other news, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of EVERTEC stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 54,998 shares of the company’s stock, valued at $1,984,327.84. This trade represents a 46.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Daniel Brignardello sold 3,842 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 32,481 shares of the company’s stock, valued at approximately $1,169,316. This represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,308 shares of company stock valued at $2,440,112 over the last ninety days. Corporate insiders own 0.83% of the company’s stock.

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.