Intech Investment Management LLC Boosts Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Intech Investment Management LLC lifted its position in EVERTEC, Inc. (NYSE:EVTC) by 589.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 125,559 shares of the business services provider’s stock after buying an additional 107,349 shares during the quarter. Intech Investment Management LLC’s holdings in EVERTEC were worth $4,336,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of EVERTEC in the 3rd quarter valued at $28,000. Fifth Third Bancorp raised its holdings in shares of EVERTEC by 52.1% in the 4th quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock valued at $41,000 after buying an additional 402 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of EVERTEC by 199.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock valued at $41,000 after buying an additional 794 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in EVERTEC during the 3rd quarter worth about $55,000. Finally, Blue Trust Inc. increased its holdings in EVERTEC by 55.2% during the 4th quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider’s stock worth $73,000 after purchasing an additional 764 shares during the period. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EVTC shares. Susquehanna upgraded EVERTEC from a “negative” rating to a “neutral” rating and upped their price target for the stock from $28.00 to $30.00 in a report on Thursday, February 27th. William Blair restated an “outperform” rating on shares of EVERTEC in a report on Thursday, February 27th. Finally, Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $33.00 to $35.00 in a report on Thursday, November 21st.

EVERTEC Trading Down 0.2 %

NYSE:EVTC opened at $36.83 on Wednesday. The stock has a 50-day simple moving average of $34.01 and a 200-day simple moving average of $34.07. The stock has a market cap of $2.34 billion, a P/E ratio of 28.77, a P/E/G ratio of 1.43 and a beta of 1.11. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $40.67. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97.

EVERTEC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. EVERTEC’s dividend payout ratio is currently 11.56%.

Insider Transactions at EVERTEC

In other news, CAO Karla Cruz sold 2,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $664,250.05. This represents a 9.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Miguel Vizcarrondo sold 8,123 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.09, for a total value of $276,913.07. Following the transaction, the executive vice president now directly owns 113,915 shares of the company’s stock, valued at approximately $3,883,362.35. This represents a 6.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 199,293 shares of company stock valued at $7,426,119. 0.83% of the stock is currently owned by corporate 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.