Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Cuts Holdings in Evertec Inc (EVTC)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp trimmed its stake in Evertec Inc (NYSE:EVTC) by 23.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,900 shares of the business services provider’s stock after selling 16,900 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned approximately 0.08% of Evertec worth $1,604,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Nkcfo LLC acquired a new position in Evertec in the fourth quarter valued at $29,000. Quantamental Technologies LLC acquired a new position in Evertec in the fourth quarter valued at $46,000. Massey Quick Simon & CO. LLC grew its position in Evertec by 20.0% during the fourth quarter. Massey Quick Simon & CO. LLC now owns 3,226 shares of the business services provider’s stock valued at $93,000 after acquiring an additional 537 shares during the period. Penserra Capital Management LLC purchased a new stake in Evertec during the fourth quarter valued at about $95,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Evertec by 19.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,169 shares of the business services provider’s stock valued at $120,000 after acquiring an additional 665 shares during the period. Hedge funds and other institutional investors own 81.21% of the company’s stock.

In other news, COO Philip E. Steurer sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $26.27, for a total value of $656,750.00. Following the completion of the sale, the chief operating officer now owns 152,202 shares of the company’s stock, valued at $3,998,346.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Diana I. Rivera-Ramirez sold 1,500 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $28.10, for a total value of $42,150.00. Following the completion of the sale, the insider now directly owns 24,137 shares of the company’s stock, valued at approximately $678,249.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,721 shares of company stock valued at $5,173,689. 0.76% of the stock is owned by company insiders.

EVTC stock traded up $0.09 during trading on Monday, reaching $29.08. 377,800 shares of the stock traded hands, compared to its average volume of 519,468. Evertec Inc has a 52-week low of $17.45 and a 52-week high of $31.10. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 2.43. The company has a market cap of $2.10 billion, a PE ratio of 17.11 and a beta of 0.66.

Evertec (NYSE:EVTC) last posted its quarterly earnings results on Wednesday, February 20th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.03. Evertec had a return on equity of 64.03% and a net margin of 19.01%. The firm had revenue of $118.20 million during the quarter, compared to the consensus estimate of $114.72 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. Equities analysts forecast that Evertec Inc will post 1.71 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, February 26th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Monday, February 25th. Evertec’s dividend payout ratio (DPR) is presently 11.76%.

Separately, Zacks Investment Research downgraded Evertec from a “buy” rating to a “hold” rating in a research report on Tuesday, January 1st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $29.00.

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Evertec Company Profile

EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.

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Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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