Charles Schwab Investment Management Inc. Raises Position in EVERTEC, Inc. (NYSE:EVTC)

Charles Schwab Investment Management Inc. grew its stake in EVERTEC, Inc. (NYSE:EVTC) by 3.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 709,451 shares of the business services provider’s stock after purchasing an additional 21,304 shares during the period. Charles Schwab Investment Management Inc.’s holdings in EVERTEC were worth $29,045,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EVTC. American Century Companies Inc. lifted its position in EVERTEC by 0.3% in the third quarter. American Century Companies Inc. now owns 3,964,957 shares of the business services provider’s stock worth $147,417,000 after buying an additional 12,707 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of EVERTEC by 16.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,452,050 shares of the business services provider’s stock worth $53,987,000 after acquiring an additional 202,757 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of EVERTEC by 386.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,296,315 shares of the business services provider’s stock worth $53,071,000 after purchasing an additional 1,029,827 shares during the period. FMR LLC grew its holdings in EVERTEC by 3,946.0% during the 3rd quarter. FMR LLC now owns 889,431 shares of the business services provider’s stock valued at $33,069,000 after purchasing an additional 867,448 shares during the last quarter. Finally, Sei Investments Co. raised its position in EVERTEC by 5.8% in the 3rd quarter. Sei Investments Co. now owns 451,935 shares of the business services provider’s stock worth $16,803,000 after purchasing an additional 24,649 shares during the period. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Insider Transactions at EVERTEC

In related news, Director Frank G. D’angelo sold 16,000 shares of EVERTEC stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $37.43, for a total value of $598,880.00. Following the completion of the sale, the director now directly owns 10,380 shares in the company, valued at $388,523.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Frank G. D’angelo sold 16,000 shares of EVERTEC stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $37.43, for a total transaction of $598,880.00. Following the transaction, the director now directly owns 10,380 shares of the company’s stock, valued at $388,523.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Morgan M. Schuessler sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 347,941 shares of the company’s stock, valued at approximately $12,939,925.79. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

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

EVERTEC Trading Down 2.7 %

Shares of EVTC opened at $35.68 on Thursday. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 2.09 and a beta of 1.19. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.59 and a quick ratio of 1.59. EVERTEC, Inc. has a 1-year low of $31.56 and a 1-year high of $42.21. The company has a 50-day moving average of $37.83 and a 200 day moving average of $38.49.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.09. The firm had revenue of $205.32 million during the quarter, compared to the consensus estimate of $200.75 million. EVERTEC had a net margin of 8.87% and a return on equity of 29.86%. On average, research analysts expect that EVERTEC, Inc. will post 2.41 EPS for the current year.

EVERTEC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Monday, April 29th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, April 26th. EVERTEC’s dividend payout ratio is 20.20%.

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.