Quantbot Technologies LP Has $249,000 Position in EVERTEC, Inc. (NYSE:EVTC)

Quantbot Technologies LP lessened its position in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 85.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,222 shares of the business services provider's stock after selling 42,193 shares during the quarter. Quantbot Technologies LP's holdings in EVERTEC were worth $249,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management UK Ltd. boosted its position in EVERTEC by 100.0% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 40,000 shares of the business services provider's stock worth $1,381,000 after acquiring an additional 20,000 shares during the period. Zacks Investment Management acquired a new stake in shares of EVERTEC during the third quarter worth approximately $1,258,000. JPMorgan Chase & Co. grew its position in EVERTEC by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider's stock valued at $11,447,000 after purchasing an additional 33,462 shares in the last quarter. KBC Group NV increased its stake in EVERTEC by 34.8% in the 4th quarter. KBC Group NV now owns 3,188 shares of the business services provider's stock valued at $110,000 after buying an additional 823 shares during the period. Finally, New York State Common Retirement Fund lifted its position in EVERTEC by 43.4% in the 4th quarter. New York State Common Retirement Fund now owns 129,235 shares of the business services provider's stock worth $4,462,000 after buying an additional 39,139 shares in the last quarter. Institutional investors and hedge funds own 96.80% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EVTC shares. William Blair restated an "outperform" rating on shares of EVERTEC in a report on Thursday, February 27th. Susquehanna upgraded EVERTEC from a "negative" rating to a "neutral" rating and boosted their target price for the company from $28.00 to $30.00 in a research note on Thursday, February 27th.

Insiders Place Their Bets

In other news, CAO Karla Cruz sold 2,000 shares of the firm'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 sale, the chief accounting officer now directly owns 18,065 shares of the company's stock, valued at approximately $664,250.05. This trade represents a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Morgan M. Schuessler sold 80,000 shares of the company'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 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 disclosure for this sale can be found here. Insiders have sold 191,170 shares of company stock valued at $7,149,206 over the last three months. 0.83% of the stock is currently owned by insiders.

EVERTEC Stock Up 1.1 %

EVTC stock traded up $0.39 during trading hours on Wednesday, hitting $37.41. The company's stock had a trading volume of 226,159 shares, compared to its average volume of 386,850. The stock has a 50 day moving average price of $35.01 and a two-hundred day moving average price of $34.39. EVERTEC, Inc. has a 12 month low of $28.76 and a 12 month high of $39.50. The company has a market capitalization of $2.38 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. 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. Investors 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 0.53%. The ex-dividend date of this dividend was Monday, March 3rd. EVERTEC's dividend payout ratio is presently 11.56%.

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.