North Star Asset Management Inc. Has $24.61 Million Stock Position in EVERTEC, Inc. (NYSE:EVTC)

North Star Asset Management Inc. boosted its stake in EVERTEC, Inc. (NYSE:EVTC) by 0.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 740,234 shares of the business services provider’s stock after buying an additional 5,475 shares during the period. EVERTEC makes up 1.2% of North Star Asset Management Inc.’s portfolio, making the stock its 29th largest holding. North Star Asset Management Inc.’s holdings in EVERTEC were worth $24,613,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Bleakley Financial Group LLC lifted its holdings in shares of EVERTEC by 1.5% during the 1st quarter. Bleakley Financial Group LLC now owns 20,589 shares of the business services provider’s stock worth $822,000 after acquiring an additional 302 shares during the period. Louisiana State Employees Retirement System increased its position in EVERTEC by 1.3% in 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 acquiring an additional 400 shares during the period. Bridge City Capital LLC increased its position in EVERTEC by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 58,286 shares of the business services provider’s stock valued at $2,326,000 after acquiring an additional 438 shares during the period. Arizona State Retirement System increased its position in EVERTEC by 3.2% in the 2nd quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider’s stock valued at $609,000 after acquiring an additional 561 shares during the period. Finally, Rhumbline Advisers increased its position in EVERTEC by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 178,806 shares of the business services provider’s stock valued at $5,945,000 after acquiring an additional 761 shares during the period. Institutional investors own 96.80% of the company’s stock.

Insider Transactions at EVERTEC

In other 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 value of $1,263,600.00. Following the completion of the transaction, the executive vice president now owns 39,370 shares in the company, valued at $1,381,887. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other EVERTEC 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 transaction 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 $4,431,844.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of EVERTEC stock in a transaction that occurred on 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 sale, the executive vice president now owns 39,370 shares of the company’s stock, valued at $1,381,887. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

EVTC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Susquehanna cut shares of EVERTEC from a “neutral” rating to a “negative” rating and decreased their price objective for the stock from $38.00 to $28.00 in a research report on Thursday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $34.33.

EVERTEC Stock Down 0.9 %

EVTC opened at $31.65 on Friday. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.82 and a quick ratio of 1.82. The company’s 50-day moving average is $33.32 and its 200 day moving average is $35.63. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $42.21. The firm has a market capitalization of $2.04 billion, a P/E ratio of 31.97, a PEG ratio of 1.70 and a beta of 1.13.

EVERTEC (NYSE:EVTC) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.19. EVERTEC had a net margin of 8.84% and a return on equity of 32.08%. Research analysts expect that EVERTEC, Inc. will post 2.53 earnings per share for the current fiscal year.

EVERTEC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, July 29th were paid a $0.05 dividend. The ex-dividend date was Monday, July 29th. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. EVERTEC’s payout ratio is 20.20%.

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.