Canada Pension Plan Investment Board Buys Shares of 504,370 EVERTEC, Inc. (NYSE:EVTC)

Canada Pension Plan Investment Board purchased a new position in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 504,370 shares of the business services provider's stock, valued at approximately $17,416,000. Canada Pension Plan Investment Board owned 0.79% of EVERTEC as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Zacks Investment Management boosted its position in shares of EVERTEC by 2.3% in the 4th quarter. Zacks Investment Management now owns 37,979 shares of the business services provider's stock worth $1,311,000 after buying an additional 858 shares in the last quarter. Keeley Teton Advisors LLC increased its stake in EVERTEC by 4.6% during the fourth quarter. Keeley Teton Advisors LLC now owns 146,584 shares of the business services provider's stock worth $5,062,000 after acquiring an additional 6,512 shares during the last quarter. Jump Financial LLC raised its holdings in EVERTEC by 4.2% in the fourth quarter. Jump Financial LLC now owns 34,409 shares of the business services provider's stock valued at $1,188,000 after buying an additional 1,384 shares during the period. Barclays PLC lifted its holdings in shares of EVERTEC by 3.0% during the 4th quarter. Barclays PLC now owns 118,831 shares of the business services provider's stock valued at $4,103,000 after acquiring an additional 3,433 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its position in shares of EVERTEC by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,747 shares of the business services provider's stock worth $233,000 after buying an additional 429 shares during the period. 96.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at EVERTEC

In other news, CEO Morgan M. Schuessler sold 80,000 shares of the 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 of the company's stock, valued at $10,567,341.40. This represents a 22.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Karla Cruz sold 2,000 shares of EVERTEC stock in a transaction on Friday, March 7th. The shares were sold at an average price of $36.77, for a total transaction of $73,540.00. Following the sale, the chief accounting officer now directly owns 18,065 shares of the company's stock, valued at $664,250.05. This trade represents a 9.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,170 shares of company stock valued at $7,149,206 over the last 90 days. 0.63% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on EVTC shares. William Blair reiterated an "outperform" rating on shares of EVERTEC in a research note on Thursday, February 27th. Susquehanna raised shares of EVERTEC from a "negative" rating to a "neutral" rating and raised their target price for the stock from $28.00 to $30.00 in a report on Thursday, February 27th.

EVERTEC Stock Performance

Shares of NYSE:EVTC traded up $0.09 on Wednesday, hitting $32.93. The company's stock had a trading volume of 312,871 shares, compared to its average volume of 383,879. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 1.43 and a beta of 1.00. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. The stock's 50-day moving average is $35.15 and its two-hundred day moving average is $34.33. EVERTEC, Inc. has a 12 month low of $28.76 and a 12 month high of $38.87.

EVERTEC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 3rd were given a $0.05 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.20 dividend on an annualized basis and a yield of 0.61%. EVERTEC's dividend payout ratio (DPR) is 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.