Evertec Inc (EVTC) Shares Sold by Pzena Investment Management LLC

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Pzena Investment Management LLC lowered its position in shares of Evertec Inc (NYSE:EVTC) by 88.9% during the fourth quarter, Holdings Channel reports. The fund owned 82,520 shares of the business services provider’s stock after selling 663,473 shares during the quarter. Pzena Investment Management LLC’s holdings in Evertec were worth $2,368,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Nkcfo LLC bought a new position in Evertec in the 4th quarter worth approximately $29,000. Quantamental Technologies LLC bought a new position in Evertec in the 4th quarter worth approximately $46,000. Massey Quick Simon & CO. LLC boosted its holdings in 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 buying an additional 537 shares during the period. Penserra Capital Management LLC bought a new position in Evertec in the 4th quarter worth approximately $95,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in 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 buying an additional 665 shares during the period. 80.27% of the stock is currently owned by institutional investors and hedge funds.

NYSE EVTC opened at $28.75 on Tuesday. Evertec Inc has a 1 year low of $15.85 and a 1 year high of $31.10. The company has a debt-to-equity ratio of 2.43, a quick ratio of 1.73 and a current ratio of 1.58. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 16.91 and a beta of 0.65.

Evertec (NYSE:EVTC) last posted its earnings results on Wednesday, February 20th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.03. Evertec had a net margin of 19.01% and a return on equity of 64.03%. The business had revenue of $118.20 million for the quarter, compared to analysts’ expectations of $114.72 million. During the same period in the prior year, the company posted $0.24 EPS. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, research analysts forecast that Evertec Inc will post 1.69 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Tuesday, February 26th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Monday, February 25th. Evertec’s dividend payout ratio (DPR) is currently 11.76%.

EVTC has been the subject of several analyst reports. Raymond James raised shares of Evertec from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 31st. Zacks Investment Research raised shares of Evertec from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Friday, November 2nd. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Evertec in a report on Thursday, December 6th. They issued an “outperform” rating and a $32.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $27.17.

In other news, Director Tere Loubriel sold 2,900 shares of the firm’s stock in a transaction on Thursday, December 20th. The shares were sold at an average price of $27.04, for a total transaction of $78,416.00. Following the sale, the director now owns 18,879 shares in the company, valued at approximately $510,488.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Carlos J. Ramirez sold 44,378 shares of the firm’s stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $26.34, for a total transaction of $1,168,916.52. Following the sale, the insider now owns 67,409 shares in the company, valued at approximately $1,775,553.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,278 shares of company stock worth $3,279,283. Corporate insiders own 0.76% of the company’s stock.

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Evertec 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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