EVERTEC, Inc. (NYSE:EVTC) Short Interest Update

EVERTEC, Inc. (NYSE:EVTC) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 1,820,000 shares, a growth of 25.5% from the March 15th total of 1,450,000 shares. Based on an average daily volume of 316,000 shares, the short-interest ratio is currently 5.8 days. Approximately 2.8% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EVTC shares. Morgan Stanley lifted their target price on EVERTEC from $32.00 to $33.00 and gave the stock an “underweight” rating in a report on Tuesday, February 27th. StockNews.com cut EVERTEC from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $41.33.

EVERTEC Stock Up 0.6 %

Shares of NYSE EVTC traded up $0.21 during midday trading on Monday, reaching $37.58. The company’s stock had a trading volume of 391,611 shares, compared to its average volume of 322,157. The stock has a 50 day simple moving average of $39.05 and a 200-day simple moving average of $38.16. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 2.20 and a beta of 1.20. EVERTEC has a fifty-two week low of $31.55 and a fifty-two week high of $42.21.

EVERTEC (NYSE:EVTC) last issued its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). EVERTEC had a net margin of 11.48% and a return on equity of 29.73%. The business had revenue of $194.62 million during the quarter, compared to analyst estimates of $179.86 million. Equities research analysts predict that EVERTEC will post 2.33 earnings per share for the current year.

EVERTEC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, February 26th. EVERTEC’s dividend payout ratio (DPR) is presently 16.53%.

Insider Transactions at EVERTEC

In other EVERTEC news, CEO Morgan M. Schuessler sold 100,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the transaction, the chief executive officer now owns 347,941 shares of the company’s stock, valued at approximately $12,939,925.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Frank G. D’angelo sold 16,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $37.43, for a total value of $598,880.00. Following the transaction, the director now owns 10,380 shares of the company’s stock, valued at approximately $388,523.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Morgan M. Schuessler sold 100,000 shares of EVERTEC stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.19, for a total value of $3,719,000.00. Following the sale, the chief executive officer now directly owns 347,941 shares of the company’s stock, valued at $12,939,925.79. The disclosure for this sale can be found here. 0.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EVTC. Victory Capital Management Inc. boosted its holdings in shares of EVERTEC by 386.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,296,315 shares of the business services provider’s stock worth $53,071,000 after acquiring an additional 1,029,827 shares during the period. FMR LLC lifted its holdings in shares of EVERTEC by 3,946.0% during the third quarter. FMR LLC now owns 889,431 shares of the business services provider’s stock worth $33,069,000 after buying an additional 867,448 shares in the last quarter. Norges Bank bought a new stake in shares of EVERTEC in the fourth quarter valued at about $19,676,000. Goldman Sachs Group Inc. grew its stake in shares of EVERTEC by 592.1% in the first quarter. Goldman Sachs Group Inc. now owns 638,644 shares of the business services provider’s stock valued at $26,139,000 after acquiring an additional 546,369 shares in the last quarter. Finally, Pathstone Holdings LLC bought a new position in EVERTEC during the fourth quarter worth about $13,225,000. 96.80% of the stock is owned by institutional investors and hedge funds.

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.