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

Intech Investment Management LLC grew its holdings in EVERTEC, Inc. (NYSE:EVTC) by 589.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 owned 0.20% of EVERTEC worth $4,336,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of EVERTEC in the third quarter valued at approximately $28,000. Fifth Third Bancorp increased its position in shares of EVERTEC by 52.1% in the fourth 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 in the last quarter. Smartleaf Asset Management LLC increased its position in shares of EVERTEC by 199.0% in the fourth 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of EVERTEC in the third quarter valued at approximately $55,000. Finally, Blue Trust Inc. boosted its stake in shares of EVERTEC by 55.2% in the fourth quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider’s stock worth $73,000 after acquiring an additional 764 shares during the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other EVERTEC news, EVP Paola Perez-Surillo sold 14,585 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 35,203 shares of the company’s stock, valued at approximately $1,307,791.45. The trade was a 29.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Miguel Vizcarrondo sold 8,123 shares of EVERTEC stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.09, for a total value of $276,913.07. Following the completion of the sale, the executive vice president now owns 113,915 shares in the company, valued at $3,883,362.35. This represents a 6.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 199,293 shares of company stock valued at $7,426,119. Insiders own 0.83% of the company’s stock.

EVERTEC Stock Performance

NYSE EVTC opened at $36.83 on Wednesday. The stock’s fifty day moving average is $34.01 and its two-hundred day moving average is $34.07. The firm has a market capitalization of $2.34 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. 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, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $40.67.

EVERTEC Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $33.00 to $35.00 in a research note on Thursday, November 21st. Susquehanna raised EVERTEC from a “negative” rating to a “neutral” rating and lifted their price target for the stock from $28.00 to $30.00 in a research note on Thursday, February 27th. Finally, William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th.

EVERTEC 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.