Bridgewater Associates LP Has $223,000 Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Bridgewater Associates LP lessened its position in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 90.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,459 shares of the business services provider's stock after selling 61,410 shares during the quarter. Bridgewater Associates LP's holdings in EVERTEC were worth $223,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of EVTC. FMR LLC raised its holdings in EVERTEC by 4.7% in 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 during the last quarter. Norges Bank purchased a new position in EVERTEC during the fourth quarter worth about $6,568,000. Raymond James Financial Inc. acquired a new stake in EVERTEC in the 4th quarter worth about $5,356,000. JPMorgan Chase & Co. grew its holdings in 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, Intech Investment Management LLC increased its stake in shares of EVERTEC by 589.5% during the 4th quarter. Intech Investment Management LLC now owns 125,559 shares of the business services provider's stock valued at $4,336,000 after acquiring an additional 107,349 shares during the last quarter. Hedge funds and other institutional investors own 96.80% of the company's stock.

Insider Buying and Selling at EVERTEC

In related news, CEO Morgan M. Schuessler sold 80,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $37.45, for a total transaction 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 represents a 22.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Karla Cruz sold 2,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $36.77, for a total transaction of $73,540.00. Following the transaction, the chief accounting officer now owns 18,065 shares of the company's stock, valued at $664,250.05. This represents a 9.97 % 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 owned by corporate insiders.

EVERTEC Trading Down 0.6 %

Shares of EVTC stock traded down $0.20 during mid-day trading on Friday, reaching $33.03. The company's stock had a trading volume of 168,386 shares, compared to its average volume of 382,980. The company's 50 day simple moving average is $35.11 and its 200-day simple moving average is $34.32. The firm has a market capitalization of $2.11 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 1.43 and a beta of 1.00. EVERTEC, Inc. has a 12-month low of $28.76 and a 12-month high of $38.70. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84.

EVERTEC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 3rd were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Monday, March 3rd. EVERTEC's dividend payout ratio is presently 11.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on EVTC shares. William Blair restated an "outperform" rating on shares of EVERTEC in a report on Thursday, February 27th. Susquehanna raised shares of EVERTEC from a "negative" rating to a "neutral" rating and boosted their price objective for the company from $28.00 to $30.00 in a research note on Thursday, February 27th.

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.