Loomis Sayles & Co. L P Cuts Stake in EVERTEC, Inc. (NYSE:EVTC)

Loomis Sayles & Co. L P lowered its stake in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,246,057 shares of the business services provider's stock after selling 36,405 shares during the quarter. Loomis Sayles & Co. L P owned 1.96% of EVERTEC worth $43,027,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new stake in EVERTEC during the 3rd quarter valued at $28,000. Fifth Third Bancorp raised its stake in shares of EVERTEC by 52.1% during the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider's stock valued at $41,000 after acquiring an additional 402 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of EVERTEC by 199.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider's stock worth $41,000 after purchasing an additional 794 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of EVERTEC in the third 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 valued at $73,000 after purchasing an additional 764 shares during the period. Institutional investors own 96.80% of the company's stock.

EVERTEC Stock Up 0.2 %

EVTC traded up $0.07 on Tuesday, hitting $36.84. The company had a trading volume of 34,945 shares, compared to its average volume of 386,680. The stock has a fifty day simple moving average of $34.81 and a 200-day simple moving average of $34.34. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a market capitalization of $2.34 billion, a P/E ratio of 28.79, a P/E/G ratio of 1.43 and a beta of 1.11. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $39.98.

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EVERTEC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 3rd were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, March 3rd. EVERTEC's payout ratio is presently 11.56%.

Insider Buying and Selling

In related news, CAO Karla Cruz sold 2,000 shares of the business's stock in a transaction dated 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 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 legal filing with the SEC, which is available at this link. Also, CEO Morgan M. Schuessler sold 80,000 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $37.45, for a total transaction of $2,996,000.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 191,170 shares of company stock valued at $7,149,206 over the last ninety days. Company insiders own 0.83% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on EVTC. Susquehanna upgraded EVERTEC from a "negative" rating to a "neutral" rating and increased their price objective for the stock from $28.00 to $30.00 in a report on Thursday, February 27th. William Blair reiterated an "outperform" rating on shares of EVERTEC in a report on Thursday, February 27th.

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.