EVERTEC, Inc. (NYSE:EVTC) Shares Sold by Vestcor Inc

Vestcor Inc cut its holdings in EVERTEC, Inc. (NYSE:EVTC) by 54.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,755 shares of the business services provider’s stock after selling 5,790 shares during the period. Vestcor Inc’s holdings in EVERTEC were worth $164,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management UK Ltd. grew its holdings 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 during the last quarter. Zacks Investment Management purchased a new position in shares of EVERTEC during the third quarter worth about $1,258,000. Algert Global LLC grew its holdings in shares of EVERTEC by 1,285.8% during the third quarter. Algert Global LLC now owns 91,341 shares of the business services provider’s stock worth $3,096,000 after purchasing an additional 84,750 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of EVERTEC by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider’s stock worth $11,447,000 after purchasing an additional 33,462 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of EVERTEC by 34.8% during the fourth quarter. KBC Group NV now owns 3,188 shares of the business services provider’s stock worth $110,000 after purchasing an additional 823 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other EVERTEC news, EVP Paola Perez-Surillo sold 14,585 shares of EVERTEC stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $37.15, for a total value of $541,832.75. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Morgan M. Schuessler sold 80,000 shares of EVERTEC stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $37.45, for a total value of $2,996,000.00. Following the completion of the sale, the chief executive officer now directly owns 282,172 shares in the company, valued at $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 a total of 199,293 shares of company stock valued at $7,426,119 over the last quarter. 0.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

EVERTEC Stock Performance

NYSE EVTC opened at $36.83 on Wednesday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $40.67. The business’s 50-day moving average price is $34.01 and its 200 day moving average price is $34.07. The firm 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 Announces Dividend

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

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.