EVERTEC, Inc. (NYSE:EVTC) Stake Decreased by Alpine Peaks Capital LP

Alpine Peaks Capital LP lessened its position in EVERTEC, Inc. (NYSE:EVTC) by 33.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 172,298 shares of the business services provider’s stock after selling 88,095 shares during the quarter. EVERTEC accounts for 4.9% of Alpine Peaks Capital LP’s portfolio, making the stock its 10th largest position. Alpine Peaks Capital LP owned about 0.27% of EVERTEC worth $5,949,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Barclays PLC grew its holdings in shares of EVERTEC by 385.6% in the third quarter. Barclays PLC now owns 115,398 shares of the business services provider’s stock worth $3,910,000 after purchasing an additional 91,632 shares during the last quarter. World Investment Advisors LLC bought a new position in EVERTEC in the 3rd quarter worth about $594,000. JPMorgan Chase & Co. grew its stake in EVERTEC by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider’s stock worth $11,447,000 after acquiring an additional 33,462 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. increased its position in shares of 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 acquiring an additional 20,000 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of EVERTEC by 10.2% during the fourth quarter. SG Americas Securities LLC now owns 30,269 shares of the business services provider’s stock valued at $1,045,000 after acquiring an additional 2,790 shares in the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at EVERTEC

In other news, CAO Karla Cruz sold 2,000 shares of EVERTEC stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 18,065 shares of the company’s stock, valued at $664,250.05. The trade was a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Morgan M. Schuessler sold 80,000 shares of EVERTEC stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $37.45, for a total transaction of $2,996,000.00. Following the sale, the chief executive officer now directly owns 282,172 shares in the company, 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. Insiders sold a total of 191,170 shares of company stock worth $7,149,206 in the last three months. Company insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EVTC shares. 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 report on Thursday, February 27th. William Blair restated an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th.

EVERTEC Price Performance

Shares of EVTC stock opened at $32.93 on Thursday. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 1.43 and a beta of 1.00. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. The stock’s 50-day simple moving average is $35.15 and its 200-day simple moving average is $34.33. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $38.87.

EVERTEC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 3rd were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date was Monday, March 3rd. EVERTEC’s dividend payout ratio is currently 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.