EVERTEC, Inc. (NYSE:EVTC) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 42.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 482,112 shares of the business services provider's stock after buying an additional 144,336 shares during the period. JPMorgan Chase & Co. owned approximately 0.76% of EVERTEC worth $16,647,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of EVERTEC in the fourth quarter worth $5,356,000. Intech Investment Management LLC increased its holdings in EVERTEC by 589.5% in the 4th quarter. Intech Investment Management LLC now owns 125,559 shares of the business services provider's stock valued at $4,336,000 after purchasing an additional 107,349 shares in the last quarter. Barclays PLC raised its position in EVERTEC by 385.6% in the third quarter. Barclays PLC now owns 115,398 shares of the business services provider's stock valued at $3,910,000 after purchasing an additional 91,632 shares during the period. Sei Investments Co. raised its position in EVERTEC by 13.4% in the fourth quarter. Sei Investments Co. now owns 575,261 shares of the business services provider's stock valued at $19,864,000 after purchasing an additional 67,956 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in shares of EVERTEC by 43.4% during the fourth quarter. New York State Common Retirement Fund now owns 129,235 shares of the business services provider's stock worth $4,462,000 after purchasing an additional 39,139 shares in the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.

EVERTEC Stock Down 2.1 %

Shares of EVTC stock traded down $0.71 during trading hours on Thursday, hitting $32.36. 38,944 shares of the company were exchanged, compared to its average volume of 380,926. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 1.43 and a beta of 1.00. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $38.87. The business's 50-day simple moving average is $35.23 and its two-hundred day simple moving average is $34.37. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 3rd were given a $0.05 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. EVERTEC's payout ratio is 11.56%.

Analyst Ratings Changes

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

Insider Activity

In related news, CAO Karla Cruz sold 2,000 shares of the business's stock in a transaction dated 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 transaction of $2,996,000.00. Following the sale, the chief executive officer now owns 282,172 shares in the company, 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. In the last ninety days, insiders sold 191,170 shares of company stock worth $7,149,206. 0.83% of the stock is currently owned by 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.