F M Investments LLC Sells 121,054 Shares of EVERTEC, Inc. (NYSE:EVTC)

F M Investments LLC lessened its position in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 63.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,219 shares of the business services provider's stock after selling 121,054 shares during the quarter. F M Investments LLC owned 0.11% of EVERTEC worth $2,459,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of EVTC. Quadrant Capital Group LLC lifted its holdings 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 purchased a new position in shares of EVERTEC in the 3rd quarter valued at about $28,000. Fifth Third Bancorp lifted its position in shares of 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 purchasing an additional 402 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of EVERTEC by 199.0% during the 4th 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 in the last quarter. Finally, Blue Trust Inc. lifted its position in EVERTEC by 55.2% in the fourth quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider's stock valued at $73,000 after acquiring an additional 764 shares during the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

EVERTEC Stock Performance

Shares of NYSE EVTC traded down $0.20 during midday trading on Wednesday, hitting $33.44. 32,419 shares of the company's stock were exchanged, compared to its average volume of 381,148. EVERTEC, Inc. has a twelve month low of $28.76 and a twelve month high of $38.87. The firm has a market cap of $2.14 billion, a P/E ratio of 26.13, a PEG ratio of 1.43 and a beta of 1.00. The stock's 50 day moving average price is $35.23 and its 200-day moving average price is $34.38. 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 Announces Dividend

The company also recently declared 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. The ex-dividend date was Monday, March 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.60%. EVERTEC's dividend payout ratio is currently 11.56%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EVTC. Susquehanna raised EVERTEC from a "negative" rating to a "neutral" rating and increased their price objective for the stock from $28.00 to $30.00 in a research report on Thursday, February 27th. William Blair reissued an "outperform" rating on shares of EVERTEC in a research note on Thursday, February 27th.

Insider Buying and Selling

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 stock was sold at an average price of $37.45, for a total transaction of $2,996,000.00. Following the completion of the transaction, the chief executive officer now owns 282,172 shares in the company, valued at $10,567,341.40. This trade represents a 22.09 % decrease in their position. The transaction was disclosed in a 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 transaction, 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 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. Corporate insiders own 0.83% of the company's stock.

EVERTEC 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.