Smith Group Asset Management LLC Purchases 2,114 Shares of EVERTEC, Inc. (NYSE:EVTC)

Smith Group Asset Management LLC raised its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 23.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,012 shares of the business services provider’s stock after acquiring an additional 2,114 shares during the quarter. Smith Group Asset Management LLC’s holdings in EVERTEC were worth $373,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bleakley Financial Group LLC lifted its holdings in shares of EVERTEC by 1.5% in the first quarter. Bleakley Financial Group LLC now owns 20,589 shares of the business services provider’s stock worth $822,000 after buying an additional 302 shares in the last quarter. Bank of Montreal Can lifted its stake 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 worth $1,191,000 after purchasing an additional 381 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of EVERTEC by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider’s stock valued at $1,077,000 after purchasing an additional 400 shares during the last quarter. nVerses Capital LLC grew its position in shares of EVERTEC by 12.5% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the business services provider’s stock valued at $122,000 after purchasing an additional 400 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of EVERTEC by 3.2% in the second quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider’s stock worth $609,000 after purchasing an additional 561 shares during the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of EVERTEC stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $35.10, for a total transaction of $1,263,600.00. Following the completion of the transaction, the executive vice president now directly owns 39,370 shares of the company’s stock, valued at approximately $1,381,887. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 129,928 shares in the company, valued at $4,431,844.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of EVERTEC stock in a transaction 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 owns 39,370 shares of the company’s stock, valued at approximately $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. Insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EVTC. Keefe, Bruyette & Woods dropped their price target on EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Susquehanna downgraded EVERTEC from a “neutral” rating to a “negative” rating and lowered their target price for the company from $38.00 to $28.00 in a research report on Thursday, September 5th.

EVERTEC Trading Down 1.8 %

EVTC opened at $32.23 on Wednesday. The stock has a 50-day moving average of $33.29 and a 200 day moving average of $34.25. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.92. EVERTEC, Inc. has a 12 month low of $28.76 and a 12 month high of $42.21. The firm has a market cap of $2.08 billion, a P/E ratio of 32.55, a P/E/G ratio of 1.62 and a beta of 1.15.

EVERTEC (NYSE:EVTC) last announced its 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. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. The firm had revenue of $211.98 million during the quarter, compared to analysts’ expectations of $209.40 million. As a group, research analysts forecast that EVERTEC, Inc. will post 2.53 EPS for the current year.

EVERTEC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, October 28th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Monday, October 28th. EVERTEC’s dividend payout ratio (DPR) is 20.20%.

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.