Prudential Financial Inc. Sells 10,380 Shares of EVERTEC, Inc. (NYSE:EVTC)

Prudential Financial Inc. trimmed its holdings in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 13.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,377 shares of the business services provider's stock after selling 10,380 shares during the period. Prudential Financial Inc. owned approximately 0.10% of EVERTEC worth $2,224,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of EVERTEC during the 4th quarter valued at $5,356,000. Intech Investment Management LLC increased its position in shares of EVERTEC by 589.5% during the fourth quarter. Intech Investment Management LLC now owns 125,559 shares of the business services provider's stock valued at $4,336,000 after buying an additional 107,349 shares during the period. DF Dent & Co. Inc. increased its position in shares of EVERTEC by 27.5% during the third quarter. DF Dent & Co. Inc. now owns 455,454 shares of the business services provider's stock valued at $15,435,000 after buying an additional 98,341 shares during the period. Barclays PLC lifted its holdings in shares of EVERTEC by 385.6% in the third quarter. Barclays PLC now owns 115,398 shares of the business services provider's stock worth $3,910,000 after buying an additional 91,632 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of EVERTEC by 13.4% in the fourth quarter. Sei Investments Co. now owns 575,261 shares of the business services provider's stock valued at $19,864,000 after acquiring an additional 67,956 shares during the period. Hedge funds and other institutional investors own 96.80% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Transactions at EVERTEC

In other news, EVP Paola Perez-Surillo sold 14,585 shares of the 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 transaction, the executive vice president now directly owns 35,203 shares in the company, valued at approximately $1,307,791.45. This represents a 29.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Morgan M. Schuessler sold 80,000 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was 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 owns 282,172 shares of the company's stock, valued at $10,567,341.40. The trade was a 22.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,170 shares of company stock valued at $7,149,206. Insiders own 0.83% of the company's stock.

EVERTEC Price Performance

EVTC traded down $1.00 on Tuesday, reaching $31.80. The company had a trading volume of 298,482 shares, compared to its average volume of 386,211. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $39.50. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 24.84, a P/E/G 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 business has a 50 day simple moving average of $35.08 and a 200 day simple moving average of $34.37.

EVERTEC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 3rd were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Monday, March 3rd. EVERTEC's dividend payout ratio (DPR) is currently 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.