Amundi Grows Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Amundi boosted its stake in EVERTEC, Inc. (NYSE:EVTC) by 83.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,416 shares of the business services provider’s stock after acquiring an additional 19,693 shares during the quarter. Amundi owned about 0.07% of EVERTEC worth $1,459,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management UK Ltd. boosted its stake in shares of EVERTEC by 100.0% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 40,000 shares of the business services provider’s stock valued at $1,381,000 after buying an additional 20,000 shares during the last quarter. Zacks Investment Management purchased a new position in shares of EVERTEC during the 3rd quarter valued at approximately $1,258,000. Algert Global LLC boosted its stake in shares of EVERTEC by 1,285.8% during the 3rd quarter. Algert Global LLC now owns 91,341 shares of the business services provider’s stock valued at $3,096,000 after buying an additional 84,750 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of EVERTEC by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider’s stock valued at $11,447,000 after buying an additional 33,462 shares during the last quarter. Finally, KBC Group NV lifted its stake in EVERTEC by 34.8% during the fourth quarter. KBC Group NV now owns 3,188 shares of the business services provider’s stock worth $110,000 after purchasing an additional 823 shares during the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Susquehanna upgraded EVERTEC from a “negative” rating to a “neutral” rating and raised their price objective for the stock from $28.00 to $30.00 in a research note on Thursday, February 27th. William Blair restated an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th. Finally, Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $33.00 to $35.00 in a research note on Thursday, November 21st.

EVERTEC Price Performance

Shares of NYSE EVTC opened at $36.83 on Wednesday. EVERTEC, Inc. has a 1-year low of $28.76 and a 1-year high of $40.67. 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 business’s fifty day moving average price is $34.01 and its two-hundred day moving average price is $34.07. The firm has a market capitalization of $2.34 billion, a PE ratio of 28.77, a P/E/G ratio of 1.43 and a beta of 1.11.

EVERTEC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 3rd will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.54%. The ex-dividend date is Monday, March 3rd. EVERTEC’s dividend payout ratio is presently 11.56%.

Insiders Place Their Bets

In other EVERTEC news, EVP Miguel Vizcarrondo sold 8,123 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.09, for a total value 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 trade represents a 6.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Karla Cruz sold 2,000 shares of the 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 completion of the sale, the chief accounting officer now directly owns 18,065 shares in the company, valued at $664,250.05. This represents a 9.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 199,293 shares of company stock valued at $7,426,119 over the last three months. Company insiders own 0.83% of the company’s stock.

EVERTEC Company 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.