Victory Capital Management Inc. Has $72.76 Million Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Victory Capital Management Inc. lessened its stake in shares of EVERTEC, Inc. (NYSE:EVTC) by 6.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,146,829 shares of the business services provider’s stock after selling 151,544 shares during the quarter. Victory Capital Management Inc.’s holdings in EVERTEC were worth $72,756,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in EVERTEC during the second quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. grew its holdings in EVERTEC by 866.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock valued at $81,000 after purchasing an additional 2,175 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in EVERTEC by 90.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 1,490 shares during the last quarter. nVerses Capital LLC boosted its position in shares of EVERTEC by 68.4% in the second quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 1,300 shares during the period. Finally, EntryPoint Capital LLC boosted its position in shares of EVERTEC by 48.9% in the first quarter. EntryPoint Capital LLC now owns 2,761 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 907 shares during the period. Institutional investors and hedge funds own 96.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Susquehanna cut EVERTEC from a “neutral” rating to a “negative” rating and reduced their price objective for the company from $38.00 to $28.00 in a research report on Thursday, September 5th.

Insider Buying and Selling

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total value of $1,364,400.00. Following the completion of the transaction, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at $4,431,844.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is owned by company insiders.

EVERTEC Stock Down 2.0 %

EVTC opened at $35.06 on Thursday. EVERTEC, Inc. has a 1-year low of $28.76 and a 1-year high of $42.21. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 1.63 and a beta of 1.15. The business has a 50 day moving average of $33.38 and a 200-day moving average of $33.94.

EVERTEC (NYSE:EVTC) last posted 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. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The company had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $211.51 million. During the same period in the prior year, the business earned $0.72 earnings per share. EVERTEC’s revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that EVERTEC, Inc. will post 2.55 earnings per share for the current year.

EVERTEC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, October 28th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.20 annualized dividend and a yield of 0.57%. EVERTEC’s dividend payout ratio (DPR) is currently 15.63%.

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.