Kayne Anderson Rudnick Investment Management LLC Decreases Holdings in EVERTEC, Inc. (NYSE:EVTC)

Kayne Anderson Rudnick Investment Management LLC reduced its position in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,408,160 shares of the business services provider's stock after selling 96,189 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 5.36% of EVERTEC worth $117,684,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of EVTC. Fifth Third Bancorp lifted its position in shares of EVERTEC by 52.1% during the 4th quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider's stock valued at $41,000 after acquiring an additional 402 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of EVERTEC by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,747 shares of the business services provider's stock worth $233,000 after acquiring an additional 429 shares in the last quarter. Bridge City Capital LLC grew its holdings in EVERTEC by 0.9% during the fourth quarter. Bridge City Capital LLC now owns 68,784 shares of the business services provider's stock valued at $2,375,000 after purchasing an additional 601 shares during the last quarter. Cetera Investment Advisers raised its holdings in EVERTEC by 6.9% in the 4th quarter. Cetera Investment Advisers now owns 10,645 shares of the business services provider's stock worth $368,000 after acquiring an additional 690 shares during the period. Finally, Quadrant Capital Group LLC increased 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 worth $26,000 after purchasing an additional 724 shares during the period. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at EVERTEC

In related news, CEO Morgan M. Schuessler sold 80,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 282,172 shares in the company, valued at approximately $10,567,341.40. This represents a 22.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Paola Perez-Surillo sold 14,585 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $37.15, for a total value of $541,832.75. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 264,561 shares of company stock worth $9,812,062. 0.63% of the stock is owned by insiders.

EVERTEC Price Performance

Shares of NYSE EVTC traded down $0.03 during trading on Thursday, reaching $36.30. The company had a trading volume of 170,191 shares, compared to its average volume of 381,224. EVERTEC, Inc. has a 52 week low of $28.76 and a 52 week high of $38.56. The stock has a market cap of $2.31 billion, a PE ratio of 28.36, a PEG ratio of 1.43 and a beta of 1.02. 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 business's 50 day moving average price is $35.11 and its 200-day moving average price is $34.77.

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

EVERTEC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 13th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. EVERTEC's dividend payout ratio (DPR) is presently 10.05%.

Analyst Ratings Changes

A number of research firms recently weighed in on EVTC. Susquehanna set a $39.00 target price on EVERTEC and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods raised their price objective on shares of EVERTEC from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. William Blair reissued an "outperform" rating on shares of EVERTEC in a report on Thursday, February 27th. Finally, Raymond James increased their price target on EVERTEC from $39.00 to $42.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, EVERTEC presently has an average rating of "Moderate Buy" and a consensus target price of $40.00.

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.