Bridgewater Associates LP Has $223,000 Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Bridgewater Associates LP lowered its position in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 90.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,459 shares of the business services provider's stock after selling 61,410 shares during the period. Bridgewater Associates LP's holdings in EVERTEC were worth $223,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC raised its position in shares of EVERTEC by 4,525.0% during the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock valued at $26,000 after acquiring an additional 724 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in EVERTEC during the third quarter worth about $28,000. Fifth Third Bancorp raised its stake in EVERTEC by 52.1% during the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider's stock worth $41,000 after acquiring an additional 402 shares during the period. Smartleaf Asset Management LLC lifted its holdings 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 worth $41,000 after acquiring an additional 794 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of EVERTEC by 55.2% in the 4th quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider's stock worth $73,000 after purchasing an additional 764 shares during the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

EVERTEC Price Performance

NYSE:EVTC traded up $0.38 during midday trading on Thursday, hitting $33.26. 240,184 shares of the stock were exchanged, compared to its average volume of 383,306. The business has a 50-day moving average price of $35.14 and a two-hundred day moving average price of $34.32. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 1.43 and a beta of 1.00. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $38.87.

EVERTEC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Monday, March 3rd. EVERTEC's dividend payout ratio is 11.56%.

Wall Street Analysts Forecast Growth

EVTC has been the topic of a number of recent research reports. Susquehanna upgraded EVERTEC from a "negative" rating to a "neutral" rating and raised their target price for the company from $28.00 to $30.00 in a research note on Thursday, February 27th. William Blair reaffirmed an "outperform" rating on shares of EVERTEC in a research note on Thursday, February 27th.

Insiders Place Their Bets

In related news, 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 owns 282,172 shares of the company's stock, valued at approximately $10,567,341.40. This trade represents a 22.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $73,540.00. Following the completion of the sale, the chief accounting officer now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 191,170 shares of company stock worth $7,149,206. 0.63% of the stock is currently owned by company insiders.

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.