KLP Kapitalforvaltning AS Takes $473,000 Position in EVERTEC, Inc. (NYSE:EVTC)

KLP Kapitalforvaltning AS bought a new stake in EVERTEC, Inc. (NYSE:EVTC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,700 shares of the business services provider's stock, valued at approximately $473,000.

A number of other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in shares of EVERTEC in the third quarter worth $28,000. Fifth Third Bancorp boosted its stake in EVERTEC by 52.1% in the fourth 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. Smartleaf Asset Management LLC grew its stake in shares of EVERTEC by 199.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider's stock valued at $41,000 after buying an additional 794 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in EVERTEC in the 3rd quarter worth approximately $55,000. 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 purchasing an additional 764 shares during the last quarter. Hedge funds and other institutional investors own 96.80% of the company's stock.

Insider Activity

In other news, CEO Morgan M. Schuessler sold 80,000 shares of the business'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 transaction, the chief executive officer now owns 282,172 shares of the company's stock, valued at approximately $10,567,341.40. The trade was a 22.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $73,540.00. Following the sale, the chief accounting officer now owns 18,065 shares in the company, valued at $664,250.05. The trade was a 9.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,170 shares of company stock worth $7,149,206 over the last 90 days. Corporate insiders own 0.83% of the company's stock.

EVERTEC Stock Performance

Shares of EVTC stock traded down $1.00 during mid-day trading on Tuesday, reaching $31.80. 298,482 shares of the company's stock traded hands, compared to its average volume of 386,211. EVERTEC, Inc. has a 12 month low of $28.76 and a 12 month high of $39.50. The firm has a 50 day moving average price of $35.08 and a two-hundred day moving average price of $34.37. The firm has a market capitalization of $2.02 billion, a PE ratio of 24.84, a price-to-earnings-growth 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 3rd were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.20 dividend on an annualized basis and a yield of 0.63%. EVERTEC's payout ratio is presently 11.56%.

Analyst Ratings Changes

A number of brokerages have issued reports 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 research note on Thursday, February 27th. William Blair reissued an "outperform" rating on shares of EVERTEC in a research report on Thursday, February 27th.

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.