Stifel Financial Corp Sells 32,665 Shares of EVERTEC, Inc. (NYSE:EVTC)

Stifel Financial Corp lessened its stake in EVERTEC, Inc. (NYSE:EVTC) by 24.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 98,766 shares of the business services provider’s stock after selling 32,665 shares during the period. Stifel Financial Corp owned about 0.16% of EVERTEC worth $3,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EVTC. Bank of Montreal Can lifted its stake in shares of EVERTEC by 1.1% in the second quarter. Bank of Montreal Can now owns 35,084 shares of the business services provider’s stock worth $1,191,000 after acquiring an additional 381 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of 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 worth $1,077,000 after purchasing an additional 400 shares during the period. nVerses Capital LLC boosted its stake in shares of EVERTEC by 12.5% in the 3rd 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 during the last quarter. Arizona State Retirement System increased its position in shares of EVERTEC by 3.2% during the second quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider’s stock worth $609,000 after buying an additional 561 shares during the period. Finally, Blair William & Co. IL increased its position in shares of EVERTEC by 2.2% during the second quarter. Blair William & Co. IL now owns 31,918 shares of the business services provider’s stock worth $1,061,000 after buying an additional 679 shares during the period. Institutional investors and hedge funds own 96.80% of the company’s stock.

Insider Buying and Selling at EVERTEC

In related news, EVP Daniel Brignardello sold 3,842 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $36.00, for a total value of $138,312.00. Following the transaction, the executive vice president now owns 32,481 shares of the company’s stock, valued at approximately $1,169,316. This trade represents a 10.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $36.08, for a total value of $1,748,184.24. Following the sale, the chief financial officer now owns 54,998 shares of the company’s stock, valued at $1,984,327.84. This trade represents a 46.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Morgan Stanley raised shares of EVERTEC from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $33.00 to $35.00 in a research report on Thursday, November 21st. Susquehanna lowered EVERTEC from a “neutral” rating to a “negative” rating and cut their target price for the company from $38.00 to $28.00 in a research report on Thursday, September 5th.

EVERTEC Stock Up 0.1 %

EVERTEC stock opened at $35.19 on Tuesday. The company has a market capitalization of $2.24 billion, a PE ratio of 27.49, a PEG ratio of 1.63 and a beta of 1.16. EVERTEC, Inc. has a 12-month low of $28.76 and a 12-month high of $42.21. The firm’s fifty day moving average is $34.41 and its 200 day moving average is $33.74. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.13. The firm had revenue of $211.80 million for the quarter, compared to analyst estimates of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. As a group, sell-side analysts predict that EVERTEC, Inc. will post 2.55 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, October 28th were paid a $0.05 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. EVERTEC’s dividend payout ratio (DPR) is presently 15.63%.

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.