EVERTEC, Inc. (NYSE:EVTC) Shares Sold by Amalgamated Bank

Posted by Defense World Staff on Jun 7th, 2023

Amalgamated Bank decreased its holdings in EVERTEC, Inc. (NYSE:EVTC – Get Rating) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,247 shares of the business services provider’s stock after selling 299 shares during the quarter. Amalgamated Bank’s holdings in EVERTEC were worth $1,012,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Sei Investments Co. boosted its stake in shares of EVERTEC by 2.4% during the 4th quarter. Sei Investments Co. now owns 447,852 shares of the business services provider’s stock worth $14,501,000 after acquiring an additional 10,372 shares in the last quarter. SYSTM Wealth Solutions LLC purchased a new position in EVERTEC in the 4th quarter worth about $476,000. Assetmark Inc. raised its holdings in EVERTEC by 13.4% during the 4th quarter. Assetmark Inc. now owns 13,267 shares of the business services provider’s stock worth $430,000 after buying an additional 1,572 shares during the period. Victory Capital Management Inc. lifted its stake in EVERTEC by 30.5% during the fourth quarter. Victory Capital Management Inc. now owns 248,481 shares of the business services provider’s stock valued at $8,046,000 after buying an additional 58,024 shares in the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in EVERTEC during the fourth quarter valued at about $5,885,000. Institutional investors own 97.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of EVERTEC from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Raymond James boosted their target price on shares of EVERTEC from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, February 23rd.

Insider Buying and Selling at EVERTEC

In other news, EVP Paola Perez-Surillo sold 15,335 shares of the firm’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $33.62, for a total transaction of $515,562.70. Following the completion of the sale, the executive vice president now directly owns 35,392 shares of the company’s stock, valued at approximately $1,189,879.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Joaquin A. Castrillo-Salgado sold 15,000 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $36.18, for a total transaction of $542,700.00. Following the transaction, the chief financial officer now owns 59,489 shares in the company, valued at approximately $2,152,312.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paola Perez-Surillo sold 15,335 shares of the company’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $33.62, for a total transaction of $515,562.70. Following the completion of the sale, the executive vice president now owns 35,392 shares of the company’s stock, valued at $1,189,879.04. The disclosure for this sale can be found here. Insiders have sold 97,142 shares of company stock worth $3,409,682 over the last 90 days. 0.44% of the stock is currently owned by corporate insiders.

EVERTEC Price Performance

NYSE EVTC opened at $36.17 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 2.01. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 10.55 and a beta of 0.95. The company has a 50 day simple moving average of $34.06 and a 200-day simple moving average of $34.12. EVERTEC, Inc. has a 52-week low of $30.17 and a 52-week high of $40.29.

EVERTEC (NYSE:EVTC – Get Rating) last released its earnings results on Wednesday, April 26th. The business services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $159.81 million during the quarter, compared to the consensus estimate of $152.17 million. EVERTEC had a net margin of 36.65% and a return on equity of 29.70%. Equities research analysts predict that EVERTEC, Inc. will post 2.4 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Monday, May 1st were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, April 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. EVERTEC’s payout ratio is 5.83%.

About EVERTEC

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EVERTEC, Inc engages in the provision of transaction services. It operates through the following segments: Payment Services-Puerto Rico and Caribbean, Payment Services-Latin America, Merchant Acquiring, Business Solutions, and Corporate and Other. The Payment Services segment is involved in the authorization, processing, management and recording of automated teller machines (ATM) and point of sales transactions, and ATM management and monitoring.