Meritage Portfolio Management Acquires 744 Shares of EVERTEC, Inc. (NYSE:EVTC)

Meritage Portfolio Management increased its holdings in EVERTEC, Inc. (NYSE:EVTC) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,245 shares of the business services provider’s stock after purchasing an additional 744 shares during the period. Meritage Portfolio Management’s holdings in EVERTEC were worth $583,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. FMR LLC increased its position in EVERTEC by 3,946.0% during the third quarter. FMR LLC now owns 889,431 shares of the business services provider’s stock valued at $33,069,000 after acquiring an additional 867,448 shares during the last quarter. Loomis Sayles & Co. L P increased its position in EVERTEC by 16.2% during the third quarter. Loomis Sayles & Co. L P now owns 1,452,050 shares of the business services provider’s stock valued at $53,987,000 after acquiring an additional 202,757 shares during the last quarter. Envestnet Asset Management Inc. increased its position in EVERTEC by 73.1% during the third quarter. Envestnet Asset Management Inc. now owns 409,002 shares of the business services provider’s stock valued at $15,207,000 after acquiring an additional 172,692 shares during the last quarter. Redwood Investments LLC increased its position in EVERTEC by 68.9% during the third quarter. Redwood Investments LLC now owns 416,639 shares of the business services provider’s stock valued at $15,491,000 after acquiring an additional 169,980 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in EVERTEC by 159.4% during the third quarter. Qube Research & Technologies Ltd now owns 70,556 shares of the business services provider’s stock valued at $2,623,000 after acquiring an additional 43,360 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.

Insider Buying and Selling at EVERTEC

In other news, CEO Morgan M. Schuessler sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the sale, the chief executive officer now owns 347,941 shares of the company’s stock, valued at approximately $12,939,925.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Frank G. D’angelo sold 16,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $37.43, for a total transaction of $598,880.00. Following the transaction, the director now owns 10,380 shares in the company, valued at approximately $388,523.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Morgan M. Schuessler sold 100,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.19, for a total value of $3,719,000.00. Following the transaction, the chief executive officer now owns 347,941 shares in the company, valued at approximately $12,939,925.79. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

EVTC has been the subject of a number of recent analyst reports. StockNews.com lowered shares of EVERTEC from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Morgan Stanley boosted their target price on shares of EVERTEC from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.33.

EVERTEC Stock Up 1.0 %

NYSE:EVTC traded up $0.37 during mid-day trading on Friday, reaching $38.59. The company’s stock had a trading volume of 110,739 shares, compared to its average volume of 315,248. EVERTEC, Inc. has a 1 year low of $31.56 and a 1 year high of $42.21. The stock has a fifty day moving average of $38.55 and a 200-day moving average of $38.18. The firm has a market capitalization of $2.49 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 2.29 and a beta of 1.20. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.58.

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

EVERTEC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Monday, April 29th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, April 26th. EVERTEC’s payout ratio is 16.53%.

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.