Balyasny Asset Management L.P. Invests $955,000 in EVERTEC, Inc. (NYSE:EVTC)

Balyasny Asset Management L.P. acquired a new stake in EVERTEC, Inc. (NYSE:EVTC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,662 shares of the business services provider’s stock, valued at approximately $955,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its holdings in EVERTEC by 4,525.0% in the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock valued at $26,000 after buying an additional 724 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in EVERTEC by 199.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock valued at $41,000 after buying an additional 794 shares during the last quarter. Fifth Third Bancorp increased its holdings in EVERTEC by 52.1% in the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock valued at $41,000 after buying an additional 402 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in EVERTEC in the fourth quarter valued at about $54,000. Finally, Blue Trust Inc. increased its holdings in EVERTEC by 55.2% in the fourth quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider’s stock valued at $73,000 after buying an additional 764 shares during the last quarter. 96.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EVTC has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their target price on EVERTEC from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Raymond James lifted their target price on EVERTEC from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Susquehanna upgraded EVERTEC from a “negative” rating to a “neutral” rating and lifted their target price for the company from $28.00 to $30.00 in a research note on Thursday, February 27th. Finally, William Blair restated an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.75.

Insider Transactions at EVERTEC

In other EVERTEC news, EVP Luis A. Rodriguez-Gonzalez sold 18,898 shares of the company’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $35.69, for a total value of $674,469.62. Following the transaction, the executive vice president now owns 35,203 shares of the company’s stock, valued at approximately $1,256,395.07. This represents a 34.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Karla Cruz sold 2,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $36.77, for a total value of $73,540.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,065 shares in the company, valued at $664,250.05. This represents a 9.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 250,068 shares of company stock worth $9,281,275. Company insiders own 0.63% of the company’s stock.

EVERTEC Stock Performance

Shares of EVTC stock opened at $36.90 on Thursday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. The business has a 50 day moving average of $34.98 and a two-hundred day moving average of $34.49. EVERTEC, Inc. has a 52 week low of $28.76 and a 52 week high of $38.32. The company has a market cap of $2.36 billion, a P/E ratio of 28.83, a PEG ratio of 1.43 and a beta of 1.02.

EVERTEC (NYSE:EVTC) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.06. The business had revenue of $228.79 million during the quarter, compared to the consensus estimate of $217.97 million. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. As a group, analysts anticipate that EVERTEC, Inc. will post 2.63 EPS for the current year.

EVERTEC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. EVERTEC’s dividend payout ratio is presently 10.05%.

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.