Victory Capital Management Inc. Sells 147,316 Shares of EVERTEC, Inc. (NYSE:EVTC)

Victory Capital Management Inc. lowered its position in EVERTEC, Inc. (NYSE:EVTC) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,999,513 shares of the business services provider’s stock after selling 147,316 shares during the period. Victory Capital Management Inc. owned about 3.14% of EVERTEC worth $69,043,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in shares of EVERTEC in the third quarter worth $28,000. Fifth Third Bancorp grew its holdings in shares of 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 acquiring an additional 402 shares during the period. Smartleaf Asset Management LLC grew its holdings 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 acquiring an additional 794 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of EVERTEC in the third quarter worth $55,000. Finally, Blue Trust Inc. grew its holdings 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 acquiring an additional 764 shares during the period. Institutional investors own 96.80% of the company’s stock.

Insider Activity

In other news, EVP Miguel Vizcarrondo sold 8,123 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.09, for a total value of $276,913.07. Following the transaction, the executive vice president now directly owns 113,915 shares in the company, valued at $3,883,362.35. The trade was a 6.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $33.00 to $35.00 in a report on Thursday, November 21st. William Blair reissued an “outperform” rating on shares of EVERTEC in a report on Thursday, February 27th. Finally, Susquehanna raised 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.

EVERTEC Stock Performance

NYSE:EVTC opened at $37.42 on Friday. The stock has a 50-day simple moving average of $33.64 and a two-hundred day simple moving average of $33.87. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $40.67. 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 $2.38 billion, a PE ratio of 29.23, a P/E/G ratio of 1.43 and a beta of 1.15.

EVERTEC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 3rd will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. EVERTEC’s payout ratio is 11.56%.

About EVERTEC

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.