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

EVERTEC, Inc. (NYSE:EVTC) CEO Morgan M. Schuessler sold 80,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 282,172 shares of the company’s stock, valued at $10,567,341.40. This represents a 22.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

EVERTEC Stock Down 0.6 %

Shares of NYSE:EVTC opened at $37.24 on Friday. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $40.67. The firm has a market capitalization of $2.37 billion, a P/E ratio of 29.09, a P/E/G ratio of 1.43 and a beta of 1.15. The stock has a 50 day moving average price of $33.69 and a 200-day moving average price of $33.89. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97.

EVERTEC Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp increased its position in EVERTEC by 52.1% during 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 in the last quarter. Summit Investment Advisors Inc. increased its position in EVERTEC by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,747 shares of the business services provider’s stock valued at $233,000 after buying an additional 429 shares in the last quarter. Bridge City Capital LLC increased its position in EVERTEC by 0.9% during the 4th quarter. Bridge City Capital LLC now owns 68,784 shares of the business services provider’s stock valued at $2,375,000 after buying an additional 601 shares in the last quarter. Cetera Investment Advisers increased its position in EVERTEC by 6.9% during the 4th quarter. Cetera Investment Advisers now owns 10,645 shares of the business services provider’s stock valued at $368,000 after buying an additional 690 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in EVERTEC by 4,525.0% during the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock valued at $26,000 after buying an additional 724 shares in the last quarter. Institutional investors own 96.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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