Norges Bank Buys Shares of 190,214 EVERTEC, Inc. (NYSE:EVTC)

Norges Bank purchased a new position in shares of EVERTEC, Inc. (NYSE:EVTC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 190,214 shares of the business services provider’s stock, valued at approximately $6,568,000.

Other hedge funds have also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in EVERTEC in the 3rd quarter worth $28,000. Fifth Third Bancorp increased its position in EVERTEC by 52.1% in the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock worth $41,000 after buying an additional 402 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of EVERTEC by 199.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock worth $41,000 after buying an additional 794 shares during the period. Blue Trust Inc. lifted its position in shares of EVERTEC by 55.2% during the 4th 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. Finally, KBC Group NV grew its stake in shares of EVERTEC by 34.8% during the 4th quarter. KBC Group NV now owns 3,188 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 823 shares during the period. Institutional investors own 96.80% of the company’s stock.

Insider Transactions at EVERTEC

In other EVERTEC news, EVP Paola Perez-Surillo sold 14,585 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $37.15, for a total transaction of $541,832.75. Following the completion of the transaction, the executive vice president now owns 35,203 shares in the company, valued at $1,307,791.45. This trade represents a 29.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Morgan M. Schuessler sold 80,000 shares of the company’s 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 sale, the chief executive officer now directly owns 282,172 shares in the company, valued at $10,567,341.40. This trade represents a 22.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,170 shares of company stock valued at $7,149,206. 0.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

EVTC has been the topic of a number of recent analyst reports. William Blair restated an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th. Susquehanna upgraded shares of EVERTEC from a “negative” rating to a “neutral” rating and raised their price objective for the company from $28.00 to $30.00 in a research report on Thursday, February 27th.

EVERTEC Stock Performance

NYSE:EVTC opened at $31.80 on Wednesday. The stock has a 50-day moving average price of $35.08 and a 200 day moving average price of $34.37. The stock has a market capitalization of $2.02 billion, a P/E ratio of 24.84, a P/E/G ratio of 1.43 and a beta of 1.00. EVERTEC, Inc. has a 12-month low of $28.76 and a 12-month high of $39.50. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 3rd were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Monday, March 3rd. EVERTEC’s payout ratio is currently 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.