Russell Investments Group Ltd. Has $898,000 Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Russell Investments Group Ltd. cut its stake in shares of EVERTEC, Inc. (NYSE:EVTC) by 19.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 26,009 shares of the business services provider’s stock after selling 6,327 shares during the quarter. Russell Investments Group Ltd.’s holdings in EVERTEC were worth $898,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of EVERTEC in the 3rd quarter valued at approximately $28,000. Fifth Third Bancorp lifted its stake in EVERTEC by 52.1% in the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 402 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of EVERTEC by 199.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 794 shares during the period. Blue Trust Inc. increased its stake in shares of EVERTEC by 55.2% during the 4th quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider’s stock worth $73,000 after purchasing an additional 764 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of EVERTEC by 34.8% in the 4th quarter. KBC Group NV now owns 3,188 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 823 shares during the period. 96.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

EVERTEC Price Performance

Shares of NYSE EVTC opened at $32.07 on Tuesday. The firm has a market cap of $2.05 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 1.43 and a beta of 1.00. The business’s 50 day moving average is $35.19 and its 200-day moving average is $34.35. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a 1-year low of $28.76 and a 1-year high of $38.87.

EVERTEC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Monday, March 3rd. EVERTEC’s dividend payout ratio is currently 11.56%.

Insider Activity

In other news, EVP Paola Perez-Surillo sold 14,585 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $37.15, for a total transaction of $541,832.75. Following the completion of the sale, the executive vice president now directly owns 35,203 shares in the company, valued at approximately $1,307,791.45. This represents a 29.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 shares were 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 of the company’s stock, valued at approximately $10,567,341.40. This trade represents a 22.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,170 shares of company stock valued at $7,149,206. 0.83% of the stock is owned by company insiders.

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.