Aquatic Capital Management LLC Trims Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Aquatic Capital Management LLC decreased its position in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 63.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,140 shares of the business services provider's stock after selling 14,060 shares during the quarter. Aquatic Capital Management LLC's holdings in EVERTEC were worth $281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of EVTC. Barclays PLC lifted its stake in shares of EVERTEC by 385.6% in the third quarter. Barclays PLC now owns 115,398 shares of the business services provider's stock valued at $3,910,000 after buying an additional 91,632 shares in the last quarter. World Investment Advisors LLC acquired a new position in EVERTEC during the 3rd quarter valued at about $594,000. JPMorgan Chase & Co. boosted its stake in EVERTEC by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider's stock valued at $11,447,000 after purchasing an additional 33,462 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. raised its stake in shares of EVERTEC by 100.0% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 40,000 shares of the business services provider's stock worth $1,381,000 after purchasing an additional 20,000 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of EVERTEC by 10.2% in the fourth quarter. SG Americas Securities LLC now owns 30,269 shares of the business services provider's stock valued at $1,045,000 after purchasing an additional 2,790 shares in the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EVTC. Susquehanna upgraded 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 note on Thursday, February 27th. William Blair reissued an "outperform" rating on shares of EVERTEC in a research report on Thursday, February 27th.

EVERTEC Stock Performance

Shares of EVERTEC stock traded up $0.02 during trading hours on Tuesday, hitting $34.50. 194,551 shares of the company's stock traded hands, compared to its average volume of 380,428. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 1.43 and a beta of 1.02. EVERTEC, Inc. has a 12-month low of $28.76 and a 12-month high of $38.32. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. The company has a fifty day simple moving average of $35.17 and a 200-day simple moving average of $34.37.

EVERTEC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.58%. EVERTEC's dividend payout ratio (DPR) is presently 11.56%.

Insiders Place Their Bets

In other news, CAO Karla Cruz sold 2,000 shares of EVERTEC stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $36.77, for a total value of $73,540.00. Following the completion of the transaction, the chief accounting officer now owns 18,065 shares in the company, valued at $664,250.05. This trade represents a 9.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paola Perez-Surillo sold 14,585 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $37.15, for a total transaction of $541,832.75. Following the completion of the sale, the executive vice president now directly owns 35,203 shares in the company, valued at approximately $1,307,791.45. This trade represents a 29.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,170 shares of company stock valued at $7,149,206. Company insiders own 0.63% 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.