Mackenzie Financial Corp Invests $368,000 in EVERTEC, Inc. (NYSE:EVTC)

Mackenzie Financial Corp purchased a new stake in EVERTEC, Inc. (NYSE:EVTC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,667 shares of the business services provider's stock, valued at approximately $368,000.

Several other institutional investors and hedge funds also recently made changes to their positions in EVTC. Canada Pension Plan Investment Board purchased a new position in EVERTEC in the fourth quarter worth $17,416,000. FMR LLC raised its stake 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 purchasing an additional 427,859 shares during the period. Norges Bank purchased a new position in shares of EVERTEC in the 4th quarter worth about $6,568,000. Ameriprise Financial Inc. boosted its holdings in shares of EVERTEC by 41.6% in the 4th quarter. Ameriprise Financial Inc. now owns 568,797 shares of the business services provider's stock worth $19,641,000 after buying an additional 166,997 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in EVERTEC during the fourth quarter valued at about $5,356,000. Hedge funds and other institutional investors own 96.80% of the company's stock.

Insider Transactions at EVERTEC

In related news, EVP Daniel Brignardello sold 7,641 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $36.60, for a total transaction of $279,660.60. Following the sale, the executive vice president now owns 31,277 shares of the company's stock, valued at approximately $1,144,738.20. This represents a 19.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $36.44, for a total transaction of $1,457,600.00. Following the completion of the transaction, the executive vice president now directly owns 92,509 shares of the company's stock, valued at approximately $3,371,027.96. The trade was a 30.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,391 shares of company stock valued at $2,662,856. 0.63% of the stock is currently owned by corporate insiders.

EVERTEC Stock Performance

Shares of EVTC stock traded up $0.45 during trading on Friday, reaching $36.77. 244,571 shares of the company's stock traded hands, compared to its average volume of 378,049. The firm's 50-day moving average is $35.00 and its 200 day moving average is $34.81. The company has a market capitalization of $2.34 billion, a P/E ratio of 28.73, a PEG ratio of 1.43 and a beta of 1.02. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $38.56. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84.

EVERTEC (NYSE:EVTC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.06. The business had revenue of $228.79 million for the quarter, compared to analysts' expectations of $217.97 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS. Equities research analysts expect that EVERTEC, Inc. will post 2.63 EPS for the current year.

EVERTEC Announces Dividend

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 dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Tuesday, May 13th. EVERTEC's dividend payout ratio is presently 10.05%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EVTC. Susquehanna set a $39.00 price objective on shares of EVERTEC and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Raymond James lifted their price target on shares of EVERTEC from $39.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Keefe, Bruyette & Woods upped their price objective on EVERTEC from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, William Blair reissued an "outperform" rating on shares of EVERTEC in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $40.00.

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.