Deutsche Bank AG Lowers Stake in Evertec Inc (EVTC)

Deutsche Bank AG lessened its holdings in Evertec Inc (NYSE:EVTC) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 357,143 shares of the business services provider’s stock after selling 8,974 shares during the period. Deutsche Bank AG owned about 0.49% of Evertec worth $10,249,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in EVTC. Nkcfo LLC purchased a new stake in shares of Evertec in the 4th quarter worth approximately $29,000. Quantamental Technologies LLC purchased a new stake in shares of Evertec in the 4th quarter worth approximately $46,000. Massey Quick Simon & CO. LLC lifted its position in shares of Evertec by 20.0% in the 4th quarter. Massey Quick Simon & CO. LLC now owns 3,226 shares of the business services provider’s stock worth $93,000 after purchasing an additional 537 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of Evertec in the 4th quarter worth approximately $95,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Evertec by 19.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,169 shares of the business services provider’s stock worth $120,000 after purchasing an additional 665 shares during the period. 81.14% of the stock is owned by hedge funds and other institutional investors.

NYSE EVTC opened at $30.03 on Thursday. The company has a debt-to-equity ratio of 2.43, a current ratio of 1.58 and a quick ratio of 1.58. The company has a market cap of $2.17 billion, a P/E ratio of 17.66 and a beta of 0.66. Evertec Inc has a 52 week low of $17.55 and a 52 week high of $31.10.

Evertec (NYSE:EVTC) last posted its quarterly earnings data on Wednesday, February 20th. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The firm had revenue of $118.20 million during the quarter, compared to analyst estimates of $114.72 million. Evertec had a net margin of 19.01% and a return on equity of 64.03%. Evertec’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 EPS. Research analysts forecast that Evertec Inc will post 1.71 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, February 26th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, February 25th. This represents a $0.20 annualized dividend and a dividend yield of 0.67%. Evertec’s dividend payout ratio (DPR) is presently 11.76%.

In other Evertec news, insider Diana I. Rivera-Ramirez sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $27.10, for a total transaction of $81,300.00. Following the transaction, the insider now owns 25,637 shares in the company, valued at approximately $694,762.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Philip E. Steurer sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $26.27, for a total transaction of $656,750.00. Following the transaction, the chief operating officer now owns 152,202 shares in the company, valued at approximately $3,998,346.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,721 shares of company stock valued at $5,173,689. 0.76% of the stock is currently owned by company insiders.

Separately, Zacks Investment Research cut shares of Evertec from a “buy” rating to a “hold” rating in a research report on Tuesday, January 1st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $29.00.

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Evertec Company Profile

EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.

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Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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