EVERTEC, Inc. (NYSE:EVTC) Plans $0.05 Quarterly Dividend

EVERTEC, Inc. (NYSE:EVTC) announced a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Investors of record on Monday, April 29th will be given a dividend of 0.05 per share by the business services provider on Friday, June 7th. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Friday, April 26th.

EVERTEC Stock Performance

Shares of EVTC opened at $37.79 on Friday. The firm has a market cap of $2.43 billion, a P/E ratio of 31.23, a PEG ratio of 2.19 and a beta of 1.20. EVERTEC has a twelve month low of $31.55 and a twelve month high of $42.21. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.88 and a current ratio of 1.88. The firm’s 50 day moving average price is $38.78 and its two-hundred day moving average price is $38.15.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on EVTC. Morgan Stanley raised their price target on shares of EVERTEC from $32.00 to $33.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 27th. StockNews.com downgraded shares of EVERTEC from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. One equities 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 company. According to data from MarketBeat.com, EVERTEC currently has a consensus rating of “Hold” and an average price target of $41.33.

Insider Activity at EVERTEC

In other EVERTEC news, 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Morgan M. Schuessler sold 100,000 shares of the stock in a transaction that occurred 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 completion of the sale, 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 legal filing with the SEC, which is available at this link. Also, Director Frank G. D’angelo sold 16,000 shares of the business’s stock in a transaction 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 $388,523.40. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On EVERTEC

Hedge funds have recently bought and sold shares of the company. Caxton Associates LP bought a new stake in EVERTEC in the second quarter valued at approximately $266,000. LPL Financial LLC acquired a new position in shares of EVERTEC during the 3rd quarter worth approximately $249,000. Lazard Asset Management LLC raised its stake in EVERTEC by 18,211.1% in the 2nd quarter. Lazard Asset Management LLC now owns 6,592 shares of the business services provider’s stock valued at $242,000 after acquiring an additional 6,556 shares during the period. Pearl River Capital LLC acquired a new stake in EVERTEC during the 1st quarter valued at $236,000. Finally, Point72 Middle East FZE bought a new position in EVERTEC during the fourth quarter worth $235,000. 96.80% of the stock is currently 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.