EVERTEC, Inc. (NYSE:EVTC) Shares Bought by Smith Group Asset Management LLC

Smith Group Asset Management LLC raised its holdings in EVERTEC, Inc. (NYSE:EVTC) by 40.1% during the 4th quarter, Holdings Channel reports. The firm owned 15,428 shares of the business services provider’s stock after buying an additional 4,416 shares during the quarter. Smith Group Asset Management LLC’s holdings in EVERTEC were worth $533,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in EVTC. Zacks Investment Management acquired a new position in shares of EVERTEC during the third quarter valued at approximately $1,258,000. Algert Global LLC increased its position in shares of EVERTEC by 1,285.8% during the third quarter. Algert Global LLC now owns 91,341 shares of the business services provider’s stock worth $3,096,000 after purchasing an additional 84,750 shares in the last quarter. JPMorgan Chase & Co. raised its stake in EVERTEC by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider’s stock valued at $11,447,000 after purchasing an additional 33,462 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. lifted its holdings in EVERTEC by 100.0% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 40,000 shares of the business services provider’s stock valued at $1,381,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Clifford Capital Partners LLC boosted its stake in EVERTEC by 20.5% during the 2nd quarter. Clifford Capital Partners LLC now owns 459,830 shares of the business services provider’s stock worth $15,289,000 after purchasing an additional 78,301 shares during the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other EVERTEC news, EVP Daniel Brignardello sold 3,842 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $36.00, for a total value of $138,312.00. Following the sale, the executive vice president now owns 32,481 shares of the company’s stock, valued at $1,169,316. The trade was a 10.58 % 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 link. Also, EVP Miguel Vizcarrondo sold 8,123 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.09, for a total value of $276,913.07. Following the transaction, the executive vice president now owns 113,915 shares of the company’s stock, valued at approximately $3,883,362.35. This represents a 6.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,308 shares of company stock valued at $2,440,112 over the last quarter. 0.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EVTC. Morgan Stanley raised shares of EVERTEC from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $33.00 to $35.00 in a research note on Thursday, November 21st. William Blair reissued an “outperform” rating on shares of EVERTEC in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.00.

EVERTEC Stock Down 0.9 %

NYSE EVTC opened at $32.23 on Thursday. The business’s fifty day simple moving average is $34.28 and its 200-day simple moving average is $33.82. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. The firm has a market cap of $2.05 billion, a PE ratio of 25.18, a P/E/G ratio of 1.38 and a beta of 1.16. EVERTEC, Inc. has a 52 week low of $28.76 and a 52 week high of $42.21.

EVERTEC (NYSE:EVTC) last issued its earnings results on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The company had revenue of $211.80 million for the quarter, compared to the consensus estimate of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. EVERTEC’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 earnings per share. As a group, equities analysts anticipate that EVERTEC, Inc. will post 2.63 earnings per share for the current year.

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.