EVERTEC, Inc. (NYSE:EVTC) Shares Sold by Vestcor Inc

Vestcor Inc trimmed its stake in shares of EVERTEC, Inc. (NYSE:EVTC) by 54.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,755 shares of the business services provider’s stock after selling 5,790 shares during the period. Vestcor Inc’s holdings in EVERTEC were worth $164,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of EVTC. Public Employees Retirement System of Ohio acquired a new position in shares of EVERTEC during the 3rd quarter worth approximately $28,000. Fifth Third Bancorp raised its position in shares of 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 purchasing an additional 402 shares during the last quarter. Smartleaf Asset Management LLC raised 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 worth $41,000 after purchasing an additional 794 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of EVERTEC during the 3rd quarter worth approximately $55,000. Finally, Blue Trust Inc. raised its position 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 purchasing an additional 764 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Karla Cruz sold 2,000 shares of the business’s 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 directly owns 18,065 shares of the company’s stock, valued at $664,250.05. The trade was a 9.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Miguel Vizcarrondo sold 8,123 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.09, for a total transaction of $276,913.07. Following 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 disclosure for this sale can be found here. In the last three months, insiders sold 199,293 shares of company stock valued at $7,426,119. Company insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

EVTC has been the subject of several research reports. Susquehanna upgraded EVERTEC from a “negative” rating to a “neutral” rating and lifted their price objective for the stock from $28.00 to $30.00 in a research report on Thursday, February 27th. Morgan Stanley raised shares of EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $33.00 to $35.00 in a research note on Thursday, November 21st. Finally, William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th.

EVERTEC Stock Down 0.2 %

EVTC stock opened at $36.83 on Wednesday. The stock has a market capitalization of $2.34 billion, a P/E ratio of 28.77, a PEG ratio of 1.43 and a beta of 1.11. 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, Inc. has a one year low of $28.76 and a one year high of $40.67. The company has a 50 day moving average price of $34.01 and a two-hundred day moving average price of $34.07.

EVERTEC Dividend Announcement

The company 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 is Monday, March 3rd. This represents a $0.20 annualized dividend and a yield of 0.54%. EVERTEC’s payout ratio is currently 11.56%.

About EVERTEC

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.