Dimensional Fund Advisors LP Acquires 32,330 Shares of EVERTEC, Inc. (NYSE:EVTC)

Dimensional Fund Advisors LP boosted its stake in shares of EVERTEC, Inc. (NYSE:EVTC) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,628,404 shares of the business services provider’s stock after purchasing an additional 32,330 shares during the quarter. Dimensional Fund Advisors LP owned about 2.56% of EVERTEC worth $56,229,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management UK Ltd. boosted its holdings 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 worth $1,381,000 after buying an additional 20,000 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of EVERTEC by 11.0% during the third 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 during the period. KBC Group NV grew its position in shares of EVERTEC by 34.8% in the fourth 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 last quarter. New York State Common Retirement Fund lifted its holdings in EVERTEC by 43.4% during the 4th quarter. New York State Common Retirement Fund now owns 129,235 shares of the business services provider’s stock worth $4,462,000 after purchasing an additional 39,139 shares during the last quarter. Finally, Amundi boosted its stake in EVERTEC by 83.0% in the 4th quarter. Amundi now owns 43,416 shares of the business services provider’s stock valued at $1,459,000 after purchasing an additional 19,693 shares during the period. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

EVERTEC Stock Performance

EVTC opened at $34.59 on Friday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $38.32. The firm has a market cap of $2.21 billion, a P/E ratio of 27.02, a price-to-earnings-growth ratio of 1.43 and a beta of 1.00. The business’s fifty day moving average is $35.19 and its 200-day moving average is $34.35.

EVERTEC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.58%. EVERTEC’s dividend payout ratio is currently 11.56%.

Insider Activity

In other news, CEO Morgan M. Schuessler sold 80,000 shares of the firm’s stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Karla Cruz sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $36.77, for a total transaction of $73,540.00. Following the transaction, the chief accounting officer now owns 18,065 shares of the company’s stock, valued at approximately $664,250.05. This represents a 9.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,170 shares of company stock worth $7,149,206. 0.63% of the stock is currently owned by corporate insiders.

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.