Evertec Target of Unusually Large Options Trading (EVTC)
Evertec Inc (NYSE:EVTC) saw unusually large options trading activity on Wednesday. Traders bought 1,715 call options on the stock. This is an increase of 2,666% compared to the average daily volume of 62 call options.
In related news, COO Philip E. Steurer sold 25,000 shares of the company’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $26.27, for a total transaction of $656,750.00. Following the completion of the sale, the chief operating officer now directly owns 152,202 shares of the company’s stock, valued at approximately $3,998,346.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Carlos J. Ramirez sold 44,378 shares of the company’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $26.34, for a total transaction of $1,168,916.52. Following the sale, the insider now directly owns 67,409 shares of the company’s stock, valued at $1,775,553.06. The disclosure for this sale can be found here. Insiders sold 112,278 shares of company stock valued at $2,997,283 over the last three months. Insiders own 0.76% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in EVTC. Nkcfo LLC acquired a new position in shares of Evertec in the 4th quarter valued at $29,000. Quantamental Technologies LLC acquired a new position in shares of Evertec in the 4th quarter valued at $46,000. Massey Quick Simon & CO. LLC raised its stake in shares of Evertec by 20.0% in the 4th quarter. Massey Quick Simon & CO. LLC now owns 3,226 shares of the business services provider’s stock valued at $93,000 after buying an additional 537 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Evertec in the 4th quarter valued at $95,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Evertec by 19.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,169 shares of the business services provider’s stock worth $120,000 after purchasing an additional 665 shares in the last quarter. Hedge funds and other institutional investors own 80.27% of the company’s stock.
Evertec (NYSE:EVTC) last released its earnings results on Wednesday, February 20th. The business services provider reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The firm had revenue of $118.20 million during the quarter, compared to analysts’ expectations of $114.72 million. Evertec had a net margin of 16.52% and a return on equity of 62.09%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. As a group, analysts forecast that Evertec will post 1.66 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Tuesday, February 26th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Monday, February 25th. Evertec’s payout ratio is currently 13.61%.
EVTC has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Evertec from a “buy” rating to a “hold” rating in a report on Tuesday, January 1st. Raymond James upped their price objective on shares of Evertec from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, November 12th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Evertec in a report on Thursday, December 6th. They set an “outperform” rating and a $32.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Evertec has a consensus rating of “Hold” and an average target price of $26.14.
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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