Summit Investment Advisors Inc. Has $233,000 Position in EVERTEC, Inc. (NYSE:EVTC)

Summit Investment Advisors Inc. boosted its position in EVERTEC, Inc. (NYSE:EVTC) by 6.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,747 shares of the business services provider’s stock after buying an additional 429 shares during the quarter. Summit Investment Advisors Inc.’s holdings in EVERTEC were worth $233,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in EVERTEC during the fourth quarter worth $5,356,000. Bank of Montreal Can raised its holdings in shares of EVERTEC by 13.3% in the 4th quarter. Bank of Montreal Can now owns 11,970 shares of the business services provider’s stock valued at $413,000 after purchasing an additional 1,409 shares during the period. FMR LLC lifted its stake in EVERTEC by 4.7% in the 4th quarter. FMR LLC now owns 9,542,103 shares of the business services provider’s stock valued at $329,489,000 after purchasing an additional 427,859 shares during the last quarter. Aristides Capital LLC increased its position in EVERTEC by 71.4% during the fourth quarter. Aristides Capital LLC now owns 72,689 shares of the business services provider’s stock worth $2,510,000 after buying an additional 30,270 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of EVERTEC by 4,525.0% in the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock valued at $26,000 after buying an additional 724 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.

Insider Buying and Selling at EVERTEC

In other EVERTEC 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 transaction of $541,832.75. Following the sale, the executive vice president now directly owns 35,203 shares in the company, valued at $1,307,791.45. This represents a 29.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Morgan M. Schuessler sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $37.45, for a total transaction of $2,996,000.00. Following the completion of the transaction, the chief executive officer now owns 282,172 shares of the company’s stock, valued at $10,567,341.40. The trade was a 22.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,170 shares of company stock valued at $7,149,206 in the last quarter. Company insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

EVERTEC Stock Performance

Shares of NYSE EVTC opened at $32.07 on Tuesday. 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 firm has a market cap of $2.05 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 1.43 and a beta of 1.00. The stock’s fifty day moving average price is $35.19 and its two-hundred day moving average price is $34.35. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $38.87.

EVERTEC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 3rd were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Monday, March 3rd. EVERTEC’s dividend payout ratio (DPR) is 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.