Mariner LLC Reduces Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Mariner LLC reduced its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 14.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,247 shares of the business services provider’s stock after selling 1,354 shares during the quarter. Mariner LLC’s holdings in EVERTEC were worth $285,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in EVTC. FMR LLC raised its position in shares of EVERTEC by 4.7% during the 4th quarter. FMR LLC now owns 9,542,103 shares of the business services provider’s stock valued at $329,489,000 after acquiring an additional 427,859 shares in the last quarter. Sei Investments Co. raised its holdings in shares of EVERTEC by 13.4% during the fourth quarter. Sei Investments Co. now owns 575,261 shares of the business services provider’s stock worth $19,864,000 after purchasing an additional 67,956 shares during the period. Bank of New York Mellon Corp lifted its position in shares of EVERTEC by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 532,340 shares of the business services provider’s stock worth $18,382,000 after buying an additional 7,614 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of EVERTEC by 42.7% in the 4th quarter. JPMorgan Chase & Co. now owns 482,112 shares of the business services provider’s stock valued at $16,647,000 after buying an additional 144,336 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of EVERTEC by 2.4% during the 4th quarter. Principal Financial Group Inc. now owns 310,524 shares of the business services provider’s stock valued at $10,722,000 after buying an additional 7,342 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at EVERTEC

In related news, CAO Karla Cruz sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $36.77, for a total transaction of $73,540.00. Following the completion of the sale, the chief accounting officer now directly owns 18,065 shares in the company, valued at approximately $664,250.05. This trade represents a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Morgan M. Schuessler sold 80,000 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 282,172 shares in the company, 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 191,170 shares of company stock valued at $7,149,206 over the last 90 days. 0.63% of the stock is currently owned by corporate insiders.

EVERTEC Price Performance

Shares of EVTC opened at $34.40 on Tuesday. The stock’s fifty day moving average is $35.23 and its 200-day moving average is $34.37. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $38.32.

EVERTEC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.58%. EVERTEC’s dividend payout ratio (DPR) is 11.56%.

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.