Redwood Investments LLC Has $4.63 Million Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Redwood Investments LLC reduced its position in EVERTEC, Inc. (NYSE:EVTCFree Report) by 72.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 113,154 shares of the business services provider’s stock after selling 303,485 shares during the period. EVERTEC comprises 1.2% of Redwood Investments LLC’s holdings, making the stock its 20th largest position. Redwood Investments LLC owned about 0.18% of EVERTEC worth $4,633,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of EVTC. FMR LLC lifted its stake in EVERTEC by 3,946.0% in the 3rd quarter. FMR LLC now owns 889,431 shares of the business services provider’s stock valued at $33,069,000 after purchasing an additional 867,448 shares during the last quarter. Norges Bank acquired a new stake in EVERTEC in the 4th quarter valued at about $19,676,000. Goldman Sachs Group Inc. raised its holdings in EVERTEC by 592.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 638,644 shares of the business services provider’s stock valued at $26,139,000 after acquiring an additional 546,369 shares during the period. JPMorgan Chase & Co. raised its holdings in EVERTEC by 88.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 535,287 shares of the business services provider’s stock valued at $19,715,000 after acquiring an additional 250,917 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in EVERTEC by 1,385.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 230,160 shares of the business services provider’s stock valued at $7,768,000 after acquiring an additional 214,666 shares during the period. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at EVERTEC

In other EVERTEC news, CEO Morgan M. Schuessler sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.19, for a total value of $3,719,000.00. Following the sale, the chief executive officer now owns 347,941 shares in the company, valued at $12,939,925.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Morgan M. Schuessler sold 100,000 shares of EVERTEC stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the transaction, the chief executive officer now owns 347,941 shares in the company, valued at $12,939,925.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frank G. D’angelo sold 16,000 shares of EVERTEC stock in a transaction on Monday, March 11th. The stock was sold at an average price of $37.43, for a total transaction of $598,880.00. Following the transaction, the director now owns 10,380 shares in the company, valued at approximately $388,523.40. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

EVERTEC Stock Up 0.7 %

Shares of EVTC opened at $39.90 on Monday. EVERTEC, Inc. has a 12 month low of $31.55 and a 12 month high of $42.21. The firm’s 50 day moving average is $39.53 and its 200-day moving average is $38.09. The stock has a market capitalization of $2.61 billion, a PE ratio of 32.98, a P/E/G ratio of 2.35 and a beta of 1.19. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.58.

EVERTEC (NYSE:EVTCGet Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). The firm had revenue of $194.62 million for the quarter, compared to analyst estimates of $179.86 million. EVERTEC had a return on equity of 29.73% and a net margin of 11.48%. Equities research analysts forecast that EVERTEC, Inc. will post 2.33 EPS for the current year.

EVERTEC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a $0.05 dividend. The ex-dividend date was Monday, February 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.50%. EVERTEC’s dividend payout ratio is currently 16.53%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EVTC shares. Morgan Stanley increased their price target on shares of EVERTEC from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Tuesday, February 27th. StockNews.com cut shares of EVERTEC from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, EVERTEC has an average rating of “Hold” and a consensus price target of $41.33.

Get Our Latest Stock Analysis on EVTC

EVERTEC Profile

(Free Report)

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.

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Institutional Ownership by Quarter for EVERTEC (NYSE:EVTC)

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