Meritage Portfolio Management Has $583,000 Holdings in EVERTEC, Inc. (NYSE:EVTC)

Meritage Portfolio Management raised its holdings in EVERTEC, Inc. (NYSE:EVTC) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,245 shares of the business services provider’s stock after buying an additional 744 shares during the quarter. Meritage Portfolio Management’s holdings in EVERTEC were worth $583,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bailard Inc. acquired a new position in shares of EVERTEC during the fourth quarter worth approximately $610,000. Yousif Capital Management LLC raised its position in shares of EVERTEC by 1.6% during the fourth quarter. Yousif Capital Management LLC now owns 32,464 shares of the business services provider’s stock worth $1,329,000 after purchasing an additional 500 shares during the period. Federated Hermes Inc. raised its position in shares of EVERTEC by 851.1% during the fourth quarter. Federated Hermes Inc. now owns 12,659 shares of the business services provider’s stock worth $518,000 after purchasing an additional 11,328 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of EVERTEC by 17.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,535 shares of the business services provider’s stock worth $636,000 after purchasing an additional 2,316 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new position in shares of EVERTEC during the fourth quarter worth approximately $1,347,000. 96.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Frank G. D’angelo sold 16,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $37.43, for a total transaction of $598,880.00. Following the sale, the director now owns 10,380 shares of the company’s stock, valued at approximately $388,523.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other EVERTEC news, Director Frank G. D’angelo sold 16,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $37.43, for a total value of $598,880.00. Following the sale, the director now owns 10,380 shares of the company’s stock, valued at approximately $388,523.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Morgan M. Schuessler sold 100,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.19, for a total value of $3,719,000.00. Following the completion of the sale, the chief executive officer now directly owns 347,941 shares in the company, valued at approximately $12,939,925.79. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EVTC. StockNews.com downgraded EVERTEC from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Morgan Stanley upped their price objective on EVERTEC from $32.00 to $33.00 and gave the company an “underweight” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $41.33.

EVERTEC Stock Performance

Shares of EVTC stock traded up $0.37 on Friday, hitting $38.59. 110,739 shares of the stock were exchanged, compared to its average volume of 315,248. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $2.49 billion, a PE ratio of 31.63, a P/E/G ratio of 2.29 and a beta of 1.20. EVERTEC, Inc. has a one year low of $31.56 and a one year high of $42.21. The firm’s 50 day moving average is $38.55 and its two-hundred day moving average is $38.18.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). The firm had revenue of $194.62 million for the quarter, compared to the consensus estimate of $179.86 million. EVERTEC had a return on equity of 29.73% and a net margin of 11.48%. Sell-side analysts expect that EVERTEC, Inc. will post 2.33 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Monday, April 29th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. EVERTEC’s dividend payout ratio (DPR) is 16.53%.

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.