North Star Asset Management Inc. Has $24.61 Million Stock Position in EVERTEC, Inc. (NYSE:EVTC)

North Star Asset Management Inc. lifted its stake in EVERTEC, Inc. (NYSE:EVTC) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 740,234 shares of the business services provider’s stock after purchasing an additional 5,475 shares during the period. EVERTEC accounts for approximately 1.2% of North Star Asset Management Inc.’s holdings, making the stock its 29th largest holding. North Star Asset Management Inc. owned about 1.15% of EVERTEC worth $24,613,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EVTC. Arizona State Retirement System grew its holdings in EVERTEC by 3.2% during the second quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider’s stock valued at $609,000 after purchasing an additional 561 shares during the period. Victory Capital Management Inc. boosted its position in shares of EVERTEC by 9.0% during the second quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider’s stock worth $76,421,000 after purchasing an additional 189,637 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of EVERTEC by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 178,806 shares of the business services provider’s stock valued at $5,945,000 after buying an additional 761 shares during the period. Aptus Capital Advisors LLC grew its holdings in shares of EVERTEC by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 88,055 shares of the business services provider’s stock valued at $2,928,000 after buying an additional 17,475 shares during the period. Finally, nVerses Capital LLC increased its position in shares of EVERTEC by 68.4% in the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock valued at $106,000 after buying an additional 1,300 shares in the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.

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 shares were 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 owns 129,928 shares of the company’s stock, valued at $4,431,844.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $35.10, for a total value of $1,263,600.00. Following the completion of the transaction, the executive vice president now owns 39,370 shares of the company’s stock, valued at $1,381,887. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction 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 approximately $4,431,844.08. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Susquehanna cut EVERTEC from a “neutral” rating to a “negative” rating and decreased their target price for the company from $38.00 to $28.00 in a research note on Thursday. Keefe, Bruyette & Woods decreased their price objective on EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, EVERTEC has a consensus rating of “Hold” and a consensus target price of $34.33.

EVERTEC Stock Performance

EVTC opened at $31.65 on Friday. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 31.97, a P/E/G ratio of 1.70 and a beta of 1.13. The business’s 50-day moving average price is $33.32 and its two-hundred day moving average price is $35.63. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $42.21. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.82 and a quick ratio of 1.82.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.19. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. Equities analysts expect that EVERTEC, Inc. will post 2.53 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, July 29th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Monday, July 29th. EVERTEC’s dividend payout ratio is presently 20.20%.

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.