State Board of Administration of Florida Retirement System Reduces Holdings in EVERTEC, Inc. (NYSE:EVTC)

Posted by Defense World Staff on Sep 20th, 2023

State Board of Administration of Florida Retirement System lowered its position in shares of EVERTEC, Inc. (NYSE:EVTC – Free Report) by 2.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,754 shares of the business services provider’s stock after selling 1,905 shares during the period. State Board of Administration of Florida Retirement System owned about 0.11% of EVERTEC worth $2,422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EVTC. GPS Wealth Strategies Group LLC acquired a new position in EVERTEC during the first quarter worth approximately $33,000. Tower Research Capital LLC TRC increased its holdings in shares of EVERTEC by 274.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,132 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 830 shares during the period. FMR LLC raised its position in EVERTEC by 36.1% in the 1st quarter. FMR LLC now owns 1,838 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 488 shares during the last quarter. AXS Investments LLC purchased a new stake in EVERTEC in the 1st quarter valued at $149,000. Finally, Penserra Capital Management LLC acquired a new stake in EVERTEC during the 1st quarter worth $154,000. 96.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at EVERTEC

In other news, COO Diego Viglianco sold 1,128 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $39.79, for a total transaction of $44,883.12. Following the transaction, the chief operating officer now directly owns 36,765 shares of the company’s stock, valued at approximately $1,462,879.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Diego Viglianco sold 1,128 shares of EVERTEC stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $39.79, for a total transaction of $44,883.12. Following the completion of the sale, the chief operating officer now directly owns 36,765 shares in the company, valued at approximately $1,462,879.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Paola Perez-Surillo sold 3,253 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $39.11, for a total value of $127,224.83. Following the sale, the executive vice president now directly owns 32,139 shares in the company, valued at approximately $1,256,956.29. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EVTC has been the topic of a number of recent research reports. Susquehanna lifted their price objective on shares of EVERTEC from $36.00 to $43.00 in a research note on Thursday, July 27th. StockNews.com began coverage on EVERTEC in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Raymond James lifted their target price on EVERTEC from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, July 24th.

Get Our Latest Report on EVTC

EVERTEC Trading Down 1.3 %

Shares of EVERTEC stock opened at $37.31 on Wednesday. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 1.36 and a beta of 0.95. EVERTEC, Inc. has a 52-week low of $30.17 and a 52-week high of $42.03. The company’s 50-day simple moving average is $39.43 and its 200-day simple moving average is $36.36. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.71.

EVERTEC (NYSE:EVTC – Get Free Report) last released its earnings results on Wednesday, July 26th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.61. The company had revenue of $167.08 million for the quarter, compared to analysts’ expectations of $164.43 million. EVERTEC had a return on equity of 28.71% and a net margin of 35.42%. As a group, equities research analysts anticipate that EVERTEC, Inc. will post 2.4 earnings per share for the current year.

EVERTEC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, July 31st were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Friday, July 28th. EVERTEC’s payout ratio is 5.90%.

About EVERTEC

(Free Report)

EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; and Business Solutions segments. 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.