Clark Capital Management Group Inc. Acquires 44,936 Shares of EVERTEC, Inc. (NYSE:EVTC)

Clark Capital Management Group Inc. boosted its holdings in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 29.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 196,836 shares of the business services provider's stock after purchasing an additional 44,936 shares during the period. Clark Capital Management Group Inc. owned approximately 0.31% of EVERTEC worth $6,797,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the business. Quadrant Capital Group LLC boosted its stake in shares of EVERTEC by 4,525.0% in the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock valued at $26,000 after purchasing an additional 724 shares during the period. Fifth Third Bancorp grew its position in 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 buying an additional 402 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of EVERTEC by 199.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider's stock valued at $41,000 after acquiring an additional 794 shares during the period. Johnson Financial Group Inc. acquired a new stake in EVERTEC during the 4th quarter worth about $54,000. Finally, Blue Trust Inc. increased its stake in EVERTEC by 55.2% in the 4th quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider's stock valued at $73,000 after buying an additional 764 shares during the period. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

EVERTEC Trading Up 0.6%

Shares of EVERTEC stock traded up $0.21 during midday trading on Wednesday, reaching $36.72. The company had a trading volume of 196,296 shares, compared to its average volume of 382,436. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week 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 stock has a fifty day moving average price of $34.99 and a 200 day moving average price of $34.48. The firm has a market cap of $2.35 billion, a PE ratio of 28.69, a P/E/G ratio of 1.43 and a beta of 1.02.

EVERTEC (NYSE:EVTC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.06. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The business had revenue of $228.79 million during the quarter, compared to analysts' expectations of $217.97 million. During the same period last year, the company posted $0.72 earnings per share. The business's quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts anticipate that EVERTEC, Inc. will post 2.63 earnings per share for the current year.

EVERTEC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Tuesday, May 13th. EVERTEC's dividend payout ratio (DPR) is presently 10.05%.

Insiders Place Their Bets

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $36.44, for a total transaction of $1,457,600.00. Following the transaction, the executive vice president now owns 92,509 shares in the company, valued at $3,371,027.96. The trade was a 30.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Luis A. Rodriguez-Gonzalez sold 18,898 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $35.69, for a total transaction of $674,469.62. Following the completion of the transaction, the executive vice president now directly owns 35,203 shares of the company's stock, valued at approximately $1,256,395.07. The trade was a 34.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 250,068 shares of company stock worth $9,281,275 in the last quarter. 0.63% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Raymond James increased their target price on EVERTEC from $39.00 to $42.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. William Blair restated an "outperform" rating on shares of EVERTEC in a report on Thursday, February 27th. Susquehanna raised EVERTEC from a "negative" rating to a "neutral" rating and lifted their target price for the company from $28.00 to $30.00 in a research note on Thursday, February 27th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of EVERTEC from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $37.75.

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.