EVERTEC, Inc. (NYSE:EVTC) Stock Position Reduced by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC decreased its stake in EVERTEC, Inc. (NYSE:EVTC) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,408,160 shares of the business services provider’s stock after selling 96,189 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 5.36% of EVERTEC worth $117,684,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in EVERTEC in the third quarter valued at approximately $28,000. Barclays PLC lifted its stake in shares of EVERTEC by 385.6% in the 3rd quarter. Barclays PLC now owns 115,398 shares of the business services provider’s stock valued at $3,910,000 after purchasing an additional 91,632 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of EVERTEC in the 3rd quarter valued at $594,000. JPMorgan Chase & Co. boosted its holdings in EVERTEC by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider’s stock worth $11,447,000 after purchasing an additional 33,462 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. increased its position in EVERTEC by 100.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 40,000 shares of the business services provider’s stock worth $1,381,000 after buying an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

Insider Transactions at EVERTEC

In other news, CAO Karla Cruz sold 2,000 shares of EVERTEC stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $36.77, for a total transaction of $73,540.00. Following the sale, the chief accounting officer now directly owns 18,065 shares in the company, valued at approximately $664,250.05. The trade was a 9.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paola Perez-Surillo sold 14,585 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 35,203 shares of the company’s stock, valued at $1,307,791.45. This trade represents a 29.29 % 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. 0.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EVTC shares. Susquehanna upgraded shares of EVERTEC from a “negative” rating to a “neutral” rating and boosted their price objective for the stock from $28.00 to $30.00 in a research note on Thursday, February 27th. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a research report on Thursday, February 27th.

EVERTEC Stock Performance

NYSE EVTC opened at $32.78 on Friday. The company’s fifty day moving average is $35.21 and its two-hundred day moving average is $34.36. The firm has a market capitalization of $2.10 billion, a price-to-earnings 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 current ratio of 1.97 and a quick ratio of 1.97. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $38.87.

EVERTEC Announces Dividend

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

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.