EVERTEC, Inc. (NYSE:EVTC) Position Reduced by Alpine Peaks Capital LP

Alpine Peaks Capital LP cut its stake in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 33.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 172,298 shares of the business services provider's stock after selling 88,095 shares during the period. EVERTEC accounts for about 4.9% of Alpine Peaks Capital LP's investment portfolio, making the stock its 10th biggest holding. Alpine Peaks Capital LP owned 0.27% of EVERTEC worth $5,949,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Canada Pension Plan Investment Board bought a new stake in EVERTEC during the fourth quarter worth $17,416,000. FMR LLC lifted its position in shares of EVERTEC by 4.7% during the 4th quarter. FMR LLC now owns 9,542,103 shares of the business services provider's stock worth $329,489,000 after buying an additional 427,859 shares during the last quarter. Norges Bank bought a new position in EVERTEC in the fourth quarter valued at about $6,568,000. Raymond James Financial Inc. acquired a new position in EVERTEC during the fourth quarter worth about $5,356,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of EVERTEC by 42.7% in the fourth quarter. JPMorgan Chase & Co. now owns 482,112 shares of the business services provider's stock worth $16,647,000 after acquiring an additional 144,336 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. William Blair reiterated an "outperform" rating on shares of EVERTEC in a research report on Thursday, February 27th. Susquehanna raised 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 report on Thursday, February 27th.

EVERTEC Stock Up 1.9 %

Shares of NYSE EVTC traded up $0.64 during midday trading on Tuesday, hitting $33.96. 93,899 shares of the stock traded hands, compared to its average volume of 309,331. 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 company has a market cap of $2.17 billion, a PE ratio of 26.53, a P/E/G ratio of 1.43 and a beta of 1.00. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $38.42. The business has a 50 day moving average price of $35.10 and a two-hundred day moving average price of $34.34.

EVERTEC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 3rd were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Monday, March 3rd. EVERTEC's dividend payout ratio is presently 11.56%.

Insider Activity at EVERTEC

In other EVERTEC 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 sale, the chief accounting officer now owns 18,065 shares of the company's stock, valued at approximately $664,250.05. The trade was a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Paola Perez-Surillo sold 14,585 shares of the 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 transaction, the executive vice president now directly owns 35,203 shares of the company's stock, valued at $1,307,791.45. This represents a 29.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,170 shares of company stock valued at $7,149,206. 0.63% of the stock is owned by insiders.

EVERTEC Company 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.