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

EVERTEC, Inc. (NYSE:EVTC) CEO Morgan M. Schuessler sold 80,000 shares of EVERTEC stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $37.45, for a total transaction of $2,996,000.00. Following the completion of the transaction, the chief executive officer now directly owns 282,172 shares of the company’s stock, valued at $10,567,341.40. The trade was a 22.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

EVERTEC Stock Performance

Shares of NYSE:EVTC opened at $37.24 on Monday. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a 12 month low of $28.76 and a 12 month high of $40.67. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 1.43 and a beta of 1.11. The firm’s 50-day moving average is $33.74 and its 200 day moving average is $33.93.

EVERTEC Dividend Announcement

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On EVERTEC

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its position in EVERTEC by 4.7% in the 4th quarter. FMR LLC now owns 9,542,103 shares of the business services provider’s stock valued at $329,489,000 after acquiring an additional 427,859 shares during the last quarter. State Street Corp boosted its stake in shares of EVERTEC by 1.4% during the third quarter. State Street Corp now owns 2,494,349 shares of the business services provider’s stock valued at $84,533,000 after purchasing an additional 34,410 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of EVERTEC by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,628,404 shares of the business services provider’s stock worth $56,229,000 after purchasing an additional 32,330 shares during the last quarter. Northern Trust Corp increased its stake in EVERTEC by 0.8% in the 4th quarter. Northern Trust Corp now owns 847,176 shares of the business services provider’s stock worth $29,253,000 after buying an additional 7,073 shares during the period. Finally, North Star Asset Management Inc. lifted its holdings in EVERTEC by 3.6% during the 4th quarter. North Star Asset Management Inc. now owns 794,171 shares of the business services provider’s stock valued at $27,423,000 after buying an additional 27,911 shares in the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

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.