Alliancebernstein L.P. Has $2.65 Million Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Alliancebernstein L.P. cut its stake in EVERTEC, Inc. (NYSE:EVTC) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,685 shares of the business services provider’s stock after selling 2,660 shares during the period. Alliancebernstein L.P.’s holdings in EVERTEC were worth $2,648,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

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

Insider Activity

In other news, CEO Morgan M. Schuessler sold 80,000 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $37.45, for a total value of $2,996,000.00. Following the transaction, the chief executive officer now owns 282,172 shares of the company’s stock, valued at $10,567,341.40. This represents a 22.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Karla Cruz sold 2,000 shares of EVERTEC stock in a transaction on Friday, March 7th. The stock was sold at an average price of $36.77, for a total value of $73,540.00. Following the sale, the chief accounting officer now directly owns 18,065 shares of the company’s stock, valued at approximately $664,250.05. This trade represents a 9.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,170 shares of company stock valued at $7,149,206. 0.83% of the stock is currently owned by insiders.

EVERTEC Stock Up 0.3 %

NYSE EVTC opened at $33.61 on Wednesday. The stock has a market capitalization of $2.15 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 1.43 and a beta of 1.00. EVERTEC, Inc. has a 52 week low of $28.76 and a 52 week high of $38.87. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a fifty day moving average of $35.23 and a 200-day moving average of $34.38.

EVERTEC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.05 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.20 annualized dividend and a yield of 0.59%. EVERTEC’s dividend 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.