Joaquin A. Castrillo-Salgado, the Executive Vice President and Chief Financial Officer of EVERTEC, Inc. (NYSE:EVTC), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Castrillo-Salgado sold 48,453 shares of common stock on December 2, 2024. The shares were sold at an average price of $36.075, with the total transaction amounting to approximately $1.75 million. The transaction comes as EVERTEC demonstrates solid financial performance, with a healthy gross profit margin of 51.3% and strong liquidity position, as indicated by a current ratio of 1.97.
Following this transaction, Castrillo-Salgado retains ownership of 54,998 shares in EVERTEC. The sales were executed at prices ranging from $36.00 to $36.15 per share. This transaction marks a notable activity by a high-ranking executive within the company, providing insight into insider actions at EVERTEC. According to InvestingPro analysis, EVERTEC appears undervalued at current levels, with the company maintaining dividend payments for 12 consecutive years and showing expected net income growth. For deeper insights into EVERTEC's valuation and financial health, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, EVERTEC has been the focus of several significant developments. Morgan Stanley (NYSE:MS) recently upgraded EVERTEC's stock from Underweight to Equalweight, citing improvements in the company's market position and strategic moves. The acquisition of Sinqia has diversified EVERTEC's revenue sources, reducing its dependency on Puerto Rico's economy and expanding into faster-growing Latin American markets.
Furthermore, EVERTEC reported strong third-quarter results in 2024, with all business segments experiencing growth and margins surpassing expectations. The company's Puerto Rico operations demonstrated notable performance, and significant organic growth was observed in the Latin America region, further bolstered by the Sinqia acquisition.
These recent developments highlight EVERTEC's robust financial health and growth trajectory. The company's operations in Puerto Rico and Latin America show promising growth, and the strategic acquisition of Sinqia is expected to further enhance this growth. EVERTEC's leadership anticipates continued growth across all operations, signaling a positive future outlook.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.