Sei Investments Co. Raises Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Sei Investments Co. increased its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 13.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 575,261 shares of the business services provider’s stock after purchasing an additional 67,956 shares during the period. Sei Investments Co.’s holdings in EVERTEC were worth $19,864,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in EVTC. Mitsubishi UFJ Asset Management UK Ltd. lifted its stake in shares of EVERTEC by 100.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 40,000 shares of the business services provider’s stock worth $1,381,000 after purchasing an additional 20,000 shares in the last quarter. Zacks Investment Management acquired a new position in EVERTEC during the 3rd quarter worth approximately $1,258,000. JPMorgan Chase & Co. lifted its position in EVERTEC by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider’s stock worth $11,447,000 after acquiring an additional 33,462 shares in the last quarter. KBC Group NV boosted its holdings in EVERTEC by 34.8% in the 4th quarter. KBC Group NV now owns 3,188 shares of the business services provider’s stock worth $110,000 after acquiring an additional 823 shares during the period. Finally, New York State Common Retirement Fund grew its position in EVERTEC by 43.4% in the fourth quarter. New York State Common Retirement Fund now owns 129,235 shares of the business services provider’s stock valued at $4,462,000 after acquiring an additional 39,139 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EVTC. Susquehanna upgraded shares of EVERTEC from a “negative” rating to a “neutral” rating and upped their target price for the company from $28.00 to $30.00 in a research note on Thursday, February 27th. William Blair reiterated an “outperform” rating on shares of EVERTEC in a report on Thursday, February 27th.

Insider Buying and Selling at EVERTEC

In other EVERTEC news, EVP Paola Perez-Surillo sold 14,585 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $37.15, for a total transaction of $541,832.75. Following the sale, the executive vice president now owns 35,203 shares in the company, valued at $1,307,791.45. This represents a 29.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Morgan M. Schuessler sold 80,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $37.45, for a total value of $2,996,000.00. Following the transaction, the chief executive officer now directly owns 282,172 shares in the company, valued at approximately $10,567,341.40. This represents a 22.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,170 shares of company stock worth $7,149,206 in the last ninety days. 0.83% of the stock is owned by insiders.

EVERTEC Price Performance

EVTC stock opened at $37.34 on Friday. The company has a market capitalization of $2.38 billion, a PE ratio of 29.17, a P/E/G ratio of 1.43 and a beta of 1.11. 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 stock’s 50 day moving average is $34.65 and its two-hundred day moving average is $34.26. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $40.67.

EVERTEC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 3rd were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.20 annualized dividend and a yield of 0.54%. EVERTEC’s dividend payout ratio is presently 11.56%.

About EVERTEC

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.