Natixis Advisors L.P. Sells 14,401 Shares of EVERTEC, Inc. (NYSE:EVTC)

Natixis Advisors L.P. cut its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 608,559 shares of the business services provider’s stock after selling 14,401 shares during the quarter. Natixis Advisors L.P. owned approximately 0.94% of EVERTEC worth $24,914,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in EVTC. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in EVERTEC by 20.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,219 shares of the business services provider’s stock valued at $491,000 after purchasing an additional 2,210 shares during the period. Strs Ohio purchased a new position in shares of EVERTEC in the third quarter worth $431,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of EVERTEC by 8.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,023 shares of the business services provider’s stock worth $1,116,000 after buying an additional 2,377 shares in the last quarter. Assetmark Inc. grew its stake in EVERTEC by 17.4% during the third quarter. Assetmark Inc. now owns 26,688 shares of the business services provider’s stock valued at $992,000 after acquiring an additional 3,965 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in EVERTEC by 2.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,682 shares of the business services provider’s stock valued at $546,000 after acquiring an additional 332 shares during the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on EVTC. StockNews.com downgraded shares of EVERTEC from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Morgan Stanley increased their price target on EVERTEC from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $41.33.

Insider Buying and Selling at EVERTEC

In other news, Director Frank G. D’angelo sold 16,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $37.43, for a total value of $598,880.00. Following the completion of the sale, the director now owns 10,380 shares in the company, valued at approximately $388,523.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Frank G. D’angelo sold 16,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $37.43, for a total value of $598,880.00. Following the sale, the director now directly owns 10,380 shares in the company, valued at $388,523.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Morgan M. Schuessler sold 100,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.19, for a total value of $3,719,000.00. Following the transaction, the chief executive officer now owns 347,941 shares of the company’s stock, valued at approximately $12,939,925.79. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.

EVERTEC Stock Performance

Shares of NYSE:EVTC opened at $36.35 on Friday. The firm has a fifty day simple moving average of $38.07 and a two-hundred day simple moving average of $38.20. EVERTEC, Inc. has a 52 week low of $31.56 and a 52 week high of $42.21. The company has a quick ratio of 1.88, a current ratio of 1.59 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $2.34 billion, a P/E ratio of 36.72, a PEG ratio of 2.14 and a beta of 1.19.

EVERTEC (NYSE:EVTC) last released its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.06). EVERTEC had a return on equity of 29.86% and a net margin of 8.87%. The company had revenue of $194.62 million during the quarter, compared to analysts’ expectations of $179.86 million. On average, analysts expect that EVERTEC, Inc. will post 2.33 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Monday, April 29th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Friday, April 26th. EVERTEC’s payout ratio is 20.20%.

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.