Canada Pension Plan Investment Board Invests $17.42 Million in EVERTEC, Inc. (NYSE:EVTC)

Canada Pension Plan Investment Board acquired a new position in EVERTEC, Inc. (NYSE:EVTC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 504,370 shares of the business services provider's stock, valued at approximately $17,416,000. Canada Pension Plan Investment Board owned 0.79% of EVERTEC as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in EVERTEC during the third quarter worth $28,000. Barclays PLC raised its holdings in shares of EVERTEC by 385.6% in the 3rd 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 during the period. World Investment Advisors LLC acquired a new position in EVERTEC during the 3rd quarter worth about $594,000. JPMorgan Chase & Co. boosted its holdings 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 acquiring an additional 33,462 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its position in EVERTEC by 100.0% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 40,000 shares of the business services provider's stock valued at $1,381,000 after acquiring an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 96.80% of the company's stock.

Wall Street Analyst Weigh In

EVTC has been the subject of several recent research reports. William Blair reissued 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 boosted their price target for the stock from $28.00 to $30.00 in a research note on Thursday, February 27th.

Insider Activity

In other news, CAO Karla Cruz sold 2,000 shares of the company's stock in a transaction on 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 approximately $664,250.05. This represents a 9.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Morgan M. Schuessler sold 80,000 shares of EVERTEC stock in a transaction dated 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 owns 282,172 shares in the company, valued at $10,567,341.40. This trade represents a 22.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,170 shares of company stock worth $7,149,206. 0.63% of the stock is currently owned by corporate insiders.

EVERTEC Stock Down 0.6 %

Shares of EVERTEC stock traded down $0.20 on Friday, reaching $33.03. 168,386 shares of the company were exchanged, compared to its average volume of 382,980. The stock's 50 day moving average price is $35.11 and its 200-day moving average price is $34.32. The company has a market cap of $2.11 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 1.43 and a beta of 1.00. EVERTEC, Inc. has a 1-year low of $28.76 and a 1-year high of $38.70. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97.

EVERTEC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 3rd were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Monday, March 3rd. EVERTEC's dividend payout ratio is presently 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.