Fmr LLC Increases Holdings in EVERTEC, Inc. (NYSE:EVTC)

FMR LLC raised its stake in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 4.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,542,103 shares of the business services provider's stock after purchasing an additional 427,859 shares during the period. FMR LLC owned 15.00% of EVERTEC worth $329,489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EVTC. Norges Bank purchased a new position in shares of EVERTEC in the fourth quarter valued at about $6,568,000. Raymond James Financial Inc. bought a new stake in shares of EVERTEC during the fourth quarter valued at approximately $5,356,000. JPMorgan Chase & Co. lifted its holdings in shares of EVERTEC by 42.7% in the fourth quarter. JPMorgan Chase & Co. now owns 482,112 shares of the business services provider's stock worth $16,647,000 after buying an additional 144,336 shares in the last quarter. Intech Investment Management LLC boosted 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 worth $4,336,000 after acquiring an additional 107,349 shares during the last quarter. Finally, Barclays PLC grew its stake in EVERTEC by 385.6% during the third quarter. Barclays PLC now owns 115,398 shares of the business services provider's stock valued at $3,910,000 after acquiring an additional 91,632 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company's stock.

EVERTEC Price Performance

Shares of NYSE EVTC traded down $0.13 during mid-day trading on Wednesday, hitting $33.51. 24,377 shares of the company's stock traded hands, compared to its average volume of 311,456. 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, Inc. has a 1 year low of $28.76 and a 1 year high of $38.87. The company's 50-day moving average is $35.23 and its two-hundred day moving average is $34.38. The company has a market capitalization of $2.15 billion, a P/E ratio of 26.18, a PEG ratio of 1.43 and a beta of 1.00.

EVERTEC Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at EVERTEC

In other news, EVP Paola Perez-Surillo sold 14,585 shares of the company's stock in a transaction that occurred on 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 owns 35,203 shares of the company's stock, valued at approximately $1,307,791.45. This represents a 29.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $2,996,000.00. Following the sale, the chief executive officer now directly owns 282,172 shares of the company's stock, valued at $10,567,341.40. This 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 worth $7,149,206 over the last quarter. Insiders own 0.83% of the company's stock.

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.