EVERTEC, Inc. (NYSE:EVTC) Stock Position Raised by Zacks Investment Management

Zacks Investment Management lifted its position in EVERTEC, Inc. (NYSE:EVTC) by 2.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 37,979 shares of the business services provider’s stock after buying an additional 858 shares during the quarter. Zacks Investment Management’s holdings in EVERTEC were worth $1,311,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EVTC. Mitsubishi UFJ Asset Management UK Ltd. boosted its position in 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 during the period. JPMorgan Chase & Co. grew its stake in EVERTEC by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider’s stock valued at $11,447,000 after buying an additional 33,462 shares during the last quarter. KBC Group NV raised 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. New York State Common Retirement Fund boosted its holdings in EVERTEC by 43.4% during 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 during the period. Finally, Amundi grew its position in shares of EVERTEC by 83.0% in the fourth quarter. Amundi now owns 43,416 shares of the business services provider’s stock valued at $1,459,000 after purchasing an additional 19,693 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EVTC. Susquehanna raised EVERTEC from a “negative” rating to a “neutral” rating and boosted their price objective for the stock from $28.00 to $30.00 in a research report on Thursday, February 27th. William Blair reissued an “outperform” rating on shares of EVERTEC in a research report on Thursday, February 27th.

EVERTEC Stock Performance

EVTC opened at $32.78 on Friday. The stock has a market cap of $2.10 billion, a PE ratio of 25.61, a P/E/G ratio of 1.43 and a beta of 1.00. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $38.87. The stock’s 50 day simple moving average is $35.22 and its 200-day simple moving average is $34.36. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84.

EVERTEC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 3rd were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.61%. EVERTEC’s dividend payout ratio (DPR) is currently 11.56%.

Insider Activity at EVERTEC

In other EVERTEC news, CAO Karla Cruz sold 2,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $36.77, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paola Perez-Surillo sold 14,585 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $37.15, for a total transaction of $541,832.75. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 191,170 shares of company stock valued at $7,149,206 over the last quarter. 0.83% of the stock is owned by company insiders.

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.