HighTower Advisors LLC Has $1.02 Million Stock Position in EVERTEC, Inc. (NYSE:EVTC)

HighTower Advisors LLC lowered its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,623 shares of the business services provider’s stock after selling 2,820 shares during the quarter. HighTower Advisors LLC’s holdings in EVERTEC were worth $1,023,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in EVTC. Fifth Third Bancorp boosted its position in EVERTEC by 52.1% during the 4th quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock worth $41,000 after acquiring an additional 402 shares during the period. 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 purchasing an additional 764 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of EVERTEC by 199.0% during the fourth 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 during the period. KBC Group NV grew its position in EVERTEC by 34.8% during 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 in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in EVERTEC in the 3rd quarter valued at approximately $28,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Insider Buying and Selling at EVERTEC

In related news, CEO Morgan M. Schuessler sold 80,000 shares of EVERTEC stock in a transaction 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 transaction, the chief executive officer now owns 282,172 shares in the company, valued at $10,567,341.40. This trade represents a 22.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Karla Cruz sold 2,000 shares of the business’s stock in a transaction 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 directly owns 18,065 shares of the company’s stock, valued at approximately $664,250.05. This represents a 9.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,170 shares of company stock worth $7,149,206 over the last three months. Corporate insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Susquehanna upgraded shares of EVERTEC from a “negative” rating to a “neutral” rating and boosted their price target for the company 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 Stock Performance

EVTC stock opened at $37.46 on Thursday. The firm has a 50 day moving average of $34.56 and a two-hundred day moving average of $34.24. EVERTEC, Inc. has a 12 month low of $28.76 and a 12 month high of $40.67. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 29.27, a P/E/G ratio of 1.43 and a beta of 1.11. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders 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 0.53%. The ex-dividend date was Monday, March 3rd. EVERTEC’s payout ratio 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.