Victory Capital Management Inc. Decreases Stake in EVERTEC, Inc. (NYSE:EVTC)

Victory Capital Management Inc. reduced its position in EVERTEC, Inc. (NYSE:EVTC) by 6.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,999,513 shares of the business services provider’s stock after selling 147,316 shares during the period. Victory Capital Management Inc.’s holdings in EVERTEC were worth $69,043,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EVTC. Public Employees Retirement System of Ohio purchased a new stake in shares of EVERTEC in the third quarter worth about $28,000. Fifth Third Bancorp lifted its position in shares of EVERTEC by 52.1% in the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock worth $41,000 after buying an additional 402 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of EVERTEC by 199.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock worth $41,000 after buying an additional 794 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of EVERTEC in the third quarter worth about $55,000. Finally, Blue Trust Inc. lifted its position in shares of EVERTEC by 55.2% in the fourth quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider’s stock worth $73,000 after buying an additional 764 shares in the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EVTC has been the topic of a number of research analyst reports. Susquehanna upgraded 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 research report on Thursday, February 27th. William Blair reissued an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th. Finally, Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $33.00 to $35.00 in a research note on Thursday, November 21st.

Insider Activity

In other news, EVP Miguel Vizcarrondo sold 7,890 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $35.07, for a total transaction of $276,702.30. Following the transaction, the executive vice president now owns 122,038 shares of the company’s stock, valued at approximately $4,279,872.66. This represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.83% of the company’s stock.

EVERTEC Trading Down 1.2 %

Shares of NYSE EVTC opened at $37.42 on Friday. The business’s 50 day moving average is $33.64 and its two-hundred day moving average is $33.87. 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 1-year low of $28.76 and a 1-year high of $40.67. The stock has a market capitalization of $2.38 billion, a P/E ratio of 29.23, a PEG ratio of 1.43 and a beta of 1.15.

EVERTEC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. EVERTEC’s dividend payout ratio is 11.56%.

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.