Intech Investment Management LLC Buys 107,349 Shares of EVERTEC, Inc. (NYSE:EVTC)

Intech Investment Management LLC boosted its position in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 589.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 125,559 shares of the business services provider's stock after acquiring an additional 107,349 shares during the period. Intech Investment Management LLC owned about 0.20% of EVERTEC worth $4,336,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in EVTC. FMR LLC raised its holdings in shares of EVERTEC by 36.6% in the 3rd quarter. FMR LLC now owns 9,114,244 shares of the business services provider's stock worth $308,882,000 after purchasing an additional 2,440,680 shares during the period. State Street Corp lifted its position in shares of EVERTEC by 1.4% during the third quarter. State Street Corp now owns 2,494,349 shares of the business services provider's stock worth $84,533,000 after purchasing an additional 34,410 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of EVERTEC by 9.9% during the third quarter. Natixis Advisors LLC now owns 582,608 shares of the business services provider's stock worth $19,745,000 after purchasing an additional 52,586 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in EVERTEC by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 532,340 shares of the business services provider's stock worth $18,382,000 after buying an additional 7,614 shares in the last quarter. Finally, DF Dent & Co. Inc. lifted its stake in shares of EVERTEC by 27.5% in the third quarter. DF Dent & Co. Inc. now owns 455,454 shares of the business services provider's stock worth $15,435,000 after acquiring an additional 98,341 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company's stock.

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Wall Street Analyst Weigh In

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

EVERTEC Stock Up 0.2 %

EVTC traded up $0.08 on Friday, reaching $37.21. 1,083,814 shares of the company traded hands, compared to its average volume of 368,143. The stock's 50 day moving average price is $34.26 and its 200-day moving average price is $34.14. 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 52-week low of $28.76 and a 52-week high of $40.67. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.43 and a beta of 1.11.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 3rd were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.20 annualized dividend and a yield of 0.54%. EVERTEC's payout ratio is 11.56%.

Insider Activity

In other news, CAO Karla Cruz sold 2,000 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 18,065 shares of the company's stock, valued at $664,250.05. This represents a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Morgan M. Schuessler sold 80,000 shares of the stock in a transaction dated 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,170 shares of company stock valued at $7,149,206. 0.83% of the stock is owned by company insiders.

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.