Victory Capital Management Inc. Cuts Position in EVERTEC, Inc. (NYSE:EVTC)

Victory Capital Management Inc. lowered its holdings in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,999,513 shares of the business services provider's stock after selling 147,316 shares during the quarter. Victory Capital Management Inc. owned approximately 3.14% of EVERTEC worth $69,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fifth Third Bancorp raised its stake in 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 acquiring an additional 402 shares during the period. Blue Trust Inc. raised its holdings in shares of EVERTEC by 55.2% during the 4th quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider's stock worth $73,000 after acquiring an additional 764 shares in the last quarter. Smartleaf Asset Management LLC boosted 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 valued at $41,000 after acquiring an additional 794 shares during the last quarter. KBC Group NV grew its holdings in shares of EVERTEC by 34.8% in the fourth quarter. KBC Group NV now owns 3,188 shares of the business services provider's stock valued at $110,000 after purchasing an additional 823 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in EVERTEC in the third quarter worth $28,000. 96.80% of the stock is owned by hedge funds and other institutional investors.

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EVERTEC Trading Down 0.8 %

Shares of EVTC traded down $0.28 during mid-day trading on Monday, reaching $36.97. 330,497 shares of the company's stock traded hands, compared to its average volume of 331,213. EVERTEC, Inc. has a 12 month low of $28.76 and a 12 month high of $40.67. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market cap of $2.35 billion, a P/E ratio of 28.88, a P/E/G ratio of 1.43 and a beta of 1.11. The stock's 50-day moving average is $33.74 and its two-hundred day moving average is $33.93.

EVERTEC Announces Dividend

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

Insider Buying and Selling

In related news, EVP Miguel Vizcarrondo sold 8,123 shares of the company's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $34.09, for a total value of $276,913.07. Following the completion of the sale, the executive vice president now directly owns 113,915 shares of the company's stock, valued at $3,883,362.35. This represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paola Perez-Surillo sold 14,585 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $37.15, for a total transaction of $541,832.75. Following the transaction, the executive vice president now directly owns 35,203 shares in the company, valued at $1,307,791.45. This trade represents a 29.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 207,183 shares of company stock valued at $7,702,821 in the last 90 days. Company insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on EVTC. Morgan Stanley raised shares of EVERTEC from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $33.00 to $35.00 in a report on Thursday, November 21st. Susquehanna raised EVERTEC from a "negative" rating to a "neutral" rating and boosted their target price for the company from $28.00 to $30.00 in a research report on Thursday, February 27th. Finally, William Blair restated 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.