Cibc World Markets Corp Acquires New Stake in EVERTEC, Inc. (NYSE:EVTC)

Cibc World Markets Corp bought a new position in shares of EVERTEC, Inc. (NYSE:EVTC) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 6,035 shares of the business services provider’s stock, valued at approximately $208,000.

A number of other institutional investors have also recently made changes to their positions in EVTC. Intech Investment Management LLC acquired a new position in shares of EVERTEC in the third quarter worth approximately $617,000. FMR LLC lifted its position in shares of EVERTEC by 36.6% in the 3rd quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock worth $308,882,000 after purchasing an additional 2,440,680 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of EVERTEC by 20.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,220 shares of the business services provider’s stock valued at $1,160,000 after purchasing an additional 5,846 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of EVERTEC during the third quarter worth $333,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in EVERTEC during the third quarter worth $55,000. Institutional investors own 96.80% of the company’s stock.

Analyst Ratings Changes

EVTC has been the subject of a number of recent analyst reports. Susquehanna upgraded EVERTEC from a “negative” rating to a “neutral” rating and increased their price target 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 report on Thursday, February 27th.

EVERTEC Price Performance

Shares of NYSE EVTC opened at $37.46 on Thursday. The firm has a market capitalization of $2.38 billion, a P/E ratio of 29.27, a P/E/G ratio of 1.43 and a beta of 1.11. The firm’s 50-day moving average price is $34.56 and its 200-day moving average price is $34.24. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a 1-year low of $28.76 and a 1-year high of $40.67.

EVERTEC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 3rd were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.20 annualized dividend and a yield of 0.53%. EVERTEC’s payout ratio is currently 11.56%.

Insider Buying and Selling at EVERTEC

In other EVERTEC news, CAO Karla Cruz sold 2,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $36.77, for a total value 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 trade represents a 9.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Morgan M. Schuessler sold 80,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $10,567,341.40. The trade was a 22.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,170 shares of company stock valued at $7,149,206. Company 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.