DF Dent & Co. Inc. Decreases Position in EVERTEC, Inc. (NYSE:EVTC)

DF Dent & Co. Inc. reduced its stake in EVERTEC, Inc. (NYSE:EVTC) by 4.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 434,649 shares of the business services provider’s stock after selling 20,805 shares during the period. DF Dent & Co. Inc.’s holdings in EVERTEC were worth $15,008,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of EVERTEC in the 4th quarter valued at $6,568,000. JPMorgan Chase & Co. grew its holdings in shares of EVERTEC by 42.7% during the fourth quarter. JPMorgan Chase & Co. now owns 482,112 shares of the business services provider’s stock worth $16,647,000 after purchasing an additional 144,336 shares during the last quarter. Bridge City Capital LLC increased its position in shares of EVERTEC by 0.9% during the fourth quarter. Bridge City Capital LLC now owns 68,784 shares of the business services provider’s stock worth $2,375,000 after purchasing an additional 601 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of EVERTEC by 151.2% in the 4th quarter. LPL Financial LLC now owns 21,091 shares of the business services provider’s stock valued at $728,000 after purchasing an additional 12,696 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of EVERTEC in the 4th quarter valued at about $473,000. Institutional investors and hedge funds own 96.80% of the company’s stock.

Insider Activity at EVERTEC

In other news, EVP Paola Perez-Surillo sold 14,585 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $37.15, for a total value of $541,832.75. Following the completion of the transaction, the executive vice president now owns 35,203 shares in the company, valued at $1,307,791.45. This trade represents a 29.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Morgan M. Schuessler sold 80,000 shares of the business’s 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 directly owns 282,172 shares in the company, valued at approximately $10,567,341.40. This represents a 22.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,170 shares of company stock worth $7,149,206 over the last three months. 0.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EVTC shares. Susquehanna raised shares of EVERTEC from a “negative” rating to a “neutral” rating and lifted their target price for the company from $28.00 to $30.00 in a report on Thursday, February 27th. William Blair reiterated an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th.

EVERTEC Price Performance

Shares of NYSE:EVTC opened at $37.41 on Thursday. EVERTEC, Inc. has a 52 week low of $28.76 and a 52 week high of $39.50. The company has a 50-day moving average price of $35.01 and a 200 day moving average price of $34.39. The company has a market cap of $2.38 billion, a P/E ratio of 29.23, a PEG ratio of 1.43 and a beta of 1.11. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84.

EVERTEC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 3rd were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. EVERTEC’s dividend payout ratio is currently 11.56%.

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.