EVERTEC, Inc. (NYSE:EVTC) Short Interest Down 15.3% in February

EVERTEC, Inc. (NYSE:EVTC - Get Free Report) was the target of a large decline in short interest in February. As of February 15th, there was short interest totalling 1,820,000 shares, a decline of 15.3% from the January 31st total of 2,150,000 shares. Currently, 2.9% of the shares of the stock are short sold. Based on an average daily volume of 293,400 shares, the days-to-cover ratio is currently 6.2 days.

EVERTEC Stock Down 0.6 %

EVTC traded down $0.22 on Friday, reaching $37.24. 368,392 shares of the company traded hands, compared to its average volume of 331,232. The stock's 50 day moving average price is $33.74 and its 200-day moving average price is $33.92. EVERTEC has a 52-week low of $28.76 and a 52-week high of $40.67. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 1.43 and a beta of 1.11. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97.

EVERTEC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 3rd will be given 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 payout ratio is presently 11.56%.

Insider Buying and Selling

In other news, CAO Karla Cruz sold 2,000 shares of EVERTEC stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $36.77, for a total value of $73,540.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $541,832.75. Following the completion of the transaction, the executive vice president now directly owns 35,203 shares in the company, valued at approximately $1,307,791.45. This trade represents a 29.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 207,183 shares of company stock worth $7,702,821 in the last ninety days. 0.83% of the stock is currently owned by corporate insiders.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVTC. Quadrant Capital Group LLC grew its position in EVERTEC by 4,525.0% during the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock valued at $26,000 after purchasing an additional 724 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in EVERTEC in the third quarter valued at approximately $28,000. Fifth Third Bancorp lifted its stake in 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 acquiring an additional 402 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in 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 acquiring an additional 794 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in EVERTEC in the fourth quarter valued at approximately $54,000. 96.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EVTC has been the topic of several analyst reports. Morgan Stanley raised shares of EVERTEC from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $33.00 to $35.00 in a research report on Thursday, November 21st. William Blair reissued an "outperform" rating on shares of EVERTEC in a research report on Thursday, February 27th. Finally, Susquehanna raised shares of EVERTEC from a "negative" rating to a "neutral" rating and lifted their target price for the stock from $28.00 to $30.00 in a research 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.