Envestnet Asset Management Inc. Sells 26,470 Shares of EVERTEC, Inc. (NYSE:EVTC)

Envestnet Asset Management Inc. lowered its stake in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 329,682 shares of the business services provider's stock after selling 26,470 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.52% of EVERTEC worth $11,384,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. 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 purchasing an additional 402 shares during the period. Bridge City Capital LLC increased its position in EVERTEC by 0.9% during the fourth quarter. Bridge City Capital LLC now owns 68,784 shares of the business services provider's stock worth $2,375,000 after buying an additional 601 shares during the last quarter. Blue Trust Inc. raised its stake in EVERTEC by 55.2% in the fourth quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider's stock valued at $73,000 after buying an additional 764 shares during the period. Smartleaf Asset Management LLC lifted 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 during the last quarter. Finally, KBC Group NV boosted its stake in shares of EVERTEC by 34.8% during 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. Institutional investors own 96.80% of the company's stock.

EVERTEC Stock Performance

Shares of EVTC traded up $0.71 during midday trading on Wednesday, reaching $33.55. 39,301 shares of the stock were exchanged, compared to its average volume of 311,714. The stock's 50 day simple moving average is $35.17 and its 200 day simple moving average is $34.34. The company has a market cap of $2.15 billion, a P/E ratio of 26.21, a PEG ratio of 1.43 and a beta of 1.00. EVERTEC, Inc. has a twelve month low of $28.76 and a twelve month high of $38.87. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 3rd were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Monday, March 3rd. EVERTEC's dividend payout ratio is currently 11.56%.

Insiders Place Their Bets

In related news, CAO Karla Cruz sold 2,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $36.77, for a total value of $73,540.00. Following the completion of the transaction, the chief accounting officer now owns 18,065 shares of the company's stock, valued at $664,250.05. The trade was a 9.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Paola Perez-Surillo sold 14,585 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $37.15, for a total transaction of $541,832.75. Following the sale, the executive vice president now directly owns 35,203 shares of the company's stock, 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 worth $7,149,206 in the last quarter. Corporate insiders own 0.63% of the company's stock.

Analyst Ratings Changes

EVTC has been the subject of several research reports. William Blair reaffirmed an "outperform" rating on shares of EVERTEC in a report on Thursday, February 27th. Susquehanna upgraded shares of EVERTEC from a "negative" rating to a "neutral" rating and raised their price objective for the stock from $28.00 to $30.00 in a research report on Thursday, February 27th.

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.