Envestnet Asset Management Inc. Lowers Holdings in EVERTEC, Inc. (NYSE:EVTC)

Envestnet Asset Management Inc. reduced its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 7.4% during the 4th quarter, HoldingsChannel reports. The firm owned 329,682 shares of the business services provider’s stock after selling 26,470 shares during the period. Envestnet Asset Management Inc.’s holdings in EVERTEC were worth $11,384,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of EVERTEC in the 4th quarter valued at about $6,568,000. JPMorgan Chase & Co. raised its stake in EVERTEC by 42.7% in the fourth quarter. JPMorgan Chase & Co. now owns 482,112 shares of the business services provider’s stock worth $16,647,000 after buying an additional 144,336 shares in the last quarter. Bridge City Capital LLC lifted its holdings in 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 buying an additional 601 shares during the period. LPL Financial LLC lifted its holdings 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 period. Finally, KLP Kapitalforvaltning AS bought a new stake in EVERTEC during the 4th quarter valued at $473,000. 96.80% of the stock is owned by institutional investors.

EVERTEC Price Performance

Shares of NYSE EVTC opened at $32.78 on Friday. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $38.87. The company has a market cap of $2.10 billion, a PE ratio of 25.61, a P/E/G 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. The business has a 50-day simple moving average of $35.23 and a two-hundred day simple moving average of $34.37.

EVERTEC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 3rd were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Monday, March 3rd. EVERTEC’s dividend payout ratio (DPR) is presently 11.56%.

Insiders Place Their Bets

In other news, CEO Morgan M. Schuessler sold 80,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 282,172 shares in the company, valued at $10,567,341.40. This trade represents a 22.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Karla Cruz sold 2,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 18,065 shares in the company, valued at approximately $664,250.05. This represents a 9.97 % decrease in their position. 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. Insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

EVTC has been the subject of a number of analyst reports. William Blair restated an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th. Susquehanna upgraded shares of EVERTEC from a “negative” rating to a “neutral” rating and boosted their target price for the stock from $28.00 to $30.00 in a 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.