Kayne Anderson Rudnick Investment Management LLC Sells 96,189 Shares of EVERTEC, Inc. (NYSE:EVTC)

Kayne Anderson Rudnick Investment Management LLC cut its stake in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,408,160 shares of the business services provider's stock after selling 96,189 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 5.36% of EVERTEC worth $117,684,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of EVTC. Fifth Third Bancorp lifted its holdings in EVERTEC by 52.1% during the 4th quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider's stock worth $41,000 after buying an additional 402 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of EVERTEC by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,747 shares of the business services provider's stock valued at $233,000 after acquiring an additional 429 shares during the period. Bridge City Capital LLC boosted its holdings in EVERTEC by 0.9% in the fourth quarter. Bridge City Capital LLC now owns 68,784 shares of the business services provider's stock valued at $2,375,000 after acquiring an additional 601 shares during the last quarter. Quadrant Capital Group LLC increased its position in EVERTEC by 4,525.0% in the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock worth $26,000 after purchasing an additional 724 shares during the period. Finally, Blue Trust Inc. raised 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 worth $73,000 after purchasing an additional 764 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Karla Cruz sold 2,000 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $36.77, for a total transaction of $73,540.00. Following the completion of the transaction, the chief accounting officer now owns 18,065 shares of the company's stock, valued at approximately $664,250.05. The trade was a 9.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paola Perez-Surillo sold 14,585 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $37.15, for a total value of $541,832.75. Following the transaction, the executive vice president now directly owns 35,203 shares of the company's stock, valued at approximately $1,307,791.45. The trade was a 29.29 % 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 worth $7,149,206 in the last quarter. Corporate insiders own 0.63% of the company's stock.

Analyst Ratings Changes

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

EVERTEC Stock Performance

EVTC traded up $0.09 on Wednesday, reaching $32.93. The company had a trading volume of 312,871 shares, compared to its average volume of 383,879. The stock has a market cap of $2.11 billion, a P/E ratio of 25.73, 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. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $38.87. The company's fifty day moving average is $35.15 and its 200 day moving average is $34.33.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 3rd were given a dividend of $0.05 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.61%. EVERTEC's 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.