SAN JUAN, Puerto Rico—Viglianco Diego, the Executive Vice President and Chief Operating Officer of EVERTEC, Inc. (NYSE:EVTC), recently sold 18,581 shares of the company’s common stock. The shares were sold at an average price of approximately $34.50, yielding a total transaction value of $641,025.
Following this sale, Diego retains ownership of 41,820 shares. The shares were sold at prices ranging from $34.3950 to $34.6300 per share, according to the filing with the Securities and Exchange Commission.
EVERTEC, Inc., a leading provider of transaction processing services, is headquartered in San Juan, Puerto Rico.
In other recent news, EVERTEC reported a robust third quarter in 2024, with all segments witnessing growth and margins surpassing expectations. The company's operations in Puerto Rico showed strength, while significant organic growth was observed in the Latin America region. This growth was further boosted by the recent acquisition of Sinqia. EVERTEC anticipates sustained growth across its operations, with the integration of Sinqia expected to enhance its performance in the Latin American market. No negative financial details or outlooks were discussed during the earnings call. The company's third-quarter performance and successful expansion in the Latin American market, including the Sinqia acquisition, are seen as positive indicators for its future growth prospects. These are the recent developments for EVERTEC.
InvestingPro Insights
The recent stock sale by EVERTEC's Executive Vice President and Chief Operating Officer comes at a time when the company's financial metrics paint an interesting picture. According to InvestingPro data, EVERTEC's market capitalization stands at $2.28 billion, with a P/E ratio of 27.42. This valuation metric is particularly noteworthy given the company's recent performance.
EVERTEC has shown robust revenue growth, with a 24.45% increase in the last twelve months as of Q3 2024, reaching $823.71 million. This growth is complemented by a healthy gross profit margin of 51.31% and an operating income margin of 16.93% for the same period. These figures suggest that EVERTEC has been effective in translating its revenue growth into profitability.
InvestingPro Tips highlight that EVERTEC has maintained dividend payments for 12 consecutive years, which may be attractive to income-focused investors. Additionally, the company's liquid assets exceed short-term obligations, indicating a strong financial position. However, it's trading at a high Price / Book multiple of 4.52, which investors should consider when evaluating the stock's current valuation.
It's worth noting that while net income is expected to grow this year, 5 analysts have revised their earnings downwards for the upcoming period. This mixed outlook could explain the executive's decision to sell shares, although it's important to remember that insider sales can occur for various personal reasons unrelated to company performance.
For readers interested in a deeper dive into EVERTEC's financials and future prospects, InvestingPro offers 7 additional tips that could provide valuable insights for investment decisions.
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