Charles Schwab Investment Management Inc. Sells 37,350 Shares of EVERTEC, Inc. (NYSE:EVTC)

Charles Schwab Investment Management Inc. reduced its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 5.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 628,237 shares of the business services provider’s stock after selling 37,350 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.99% of EVERTEC worth $21,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EVTC. Public Employees Retirement System of Ohio acquired a new position in shares of EVERTEC in the 3rd quarter valued at approximately $28,000. Fifth Third Bancorp grew its holdings in EVERTEC by 52.1% in the 4th quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock valued at $41,000 after buying an additional 402 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of EVERTEC by 199.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock worth $41,000 after purchasing an additional 794 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of EVERTEC during the 3rd quarter worth $55,000. Finally, Blue Trust Inc. boosted its stake in EVERTEC by 55.2% in the fourth quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider’s stock valued at $73,000 after buying an additional 764 shares in the last quarter. 96.80% of the stock is owned by institutional investors.

EVERTEC Trading Down 0.2 %

EVTC opened at $36.83 on Wednesday. The business has a 50 day simple moving average of $34.01 and a two-hundred day simple moving average of $34.07. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 1.43 and a beta of 1.11. 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 one year low of $28.76 and a one year high of $40.67.

EVERTEC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Monday, March 3rd. EVERTEC’s payout ratio is 11.56%.

Analysts Set New Price Targets

EVTC has been the subject of a number of analyst reports. William Blair restated an “outperform” rating on shares of EVERTEC in a research report on Thursday, February 27th. Susquehanna raised EVERTEC from a “negative” rating to a “neutral” rating and lifted their target price for the company from $28.00 to $30.00 in a research report on Thursday, February 27th. Finally, Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $33.00 to $35.00 in a report on Thursday, November 21st.

Insider Buying and Selling at EVERTEC

In other news, EVP Paola Perez-Surillo sold 14,585 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $37.15, for a total value of $541,832.75. Following the completion of the transaction, the executive vice president now owns 35,203 shares of the company’s stock, valued at approximately $1,307,791.45. This represents a 29.29 % 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, CEO Morgan M. Schuessler sold 80,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was 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 $10,567,341.40. This represents a 22.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 199,293 shares of company stock valued at $7,426,119 in the last 90 days. Insiders own 0.83% of the company’s stock.

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.