Bank of New York Mellon Corp grew its holdings in Evertec Inc (NYSE:EVTC) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 840,733 shares of the business services provider’s stock after purchasing an additional 48,781 shares during the quarter. Bank of New York Mellon Corp’s holdings in Evertec were worth $24,129,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of EVTC. Man Group plc boosted its position in shares of Evertec by 92.3% in the third quarter. Man Group plc now owns 1,604,324 shares of the business services provider’s stock valued at $38,665,000 after acquiring an additional 770,031 shares during the period. Renaissance Technologies LLC boosted its position in shares of Evertec by 173.1% in the third quarter. Renaissance Technologies LLC now owns 1,138,100 shares of the business services provider’s stock valued at $27,428,000 after acquiring an additional 721,400 shares during the period. Clearbridge Investments LLC boosted its position in shares of Evertec by 23,929.8% in the third quarter. Clearbridge Investments LLC now owns 637,030 shares of the business services provider’s stock valued at $15,352,000 after acquiring an additional 634,379 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Evertec in the fourth quarter valued at approximately $11,826,000. Finally, Boston Partners boosted its position in shares of Evertec by 113.7% in the fourth quarter. Boston Partners now owns 729,190 shares of the business services provider’s stock valued at $20,928,000 after acquiring an additional 388,035 shares during the period. 81.21% of the stock is owned by institutional investors.

EVTC has been the subject of several research reports. Zacks Investment Research cut Evertec from a “buy” rating to a “hold” rating in a research report on Tuesday, January 1st. Keefe, Bruyette & Woods initiated coverage on Evertec in a research report on Thursday, December 6th. They issued an “outperform” rating and a $32.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $29.00.

In other Evertec news, COO Philip E. Steurer sold 25,000 shares of Evertec stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $26.27, for a total transaction of $656,750.00. Following the completion of the transaction, the chief operating officer now directly owns 152,202 shares of the company’s stock, valued at $3,998,346.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Morgan M. Schuessler sold 152,221 shares of Evertec stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $27.01, for a total value of $4,111,489.21. Following the transaction, the chief executive officer now directly owns 539,102 shares of the company’s stock, valued at $14,561,145.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,721 shares of company stock valued at $5,173,689. 0.76% of the stock is owned by company insiders.

Shares of EVTC stock opened at $27.80 on Thursday. The firm has a market capitalization of $2.01 billion, a P/E ratio of 16.35 and a beta of 0.67. Evertec Inc has a one year low of $15.85 and a one year high of $31.10. The company has a debt-to-equity ratio of 2.43, a current ratio of 1.58 and a quick ratio of 1.58.

Evertec (NYSE:EVTC) last issued its earnings results on Wednesday, February 20th. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The firm had revenue of $118.20 million during the quarter, compared to analysts’ expectations of $114.72 million. Evertec had a return on equity of 64.03% and a net margin of 19.01%. Evertec’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period last year, the business earned $0.24 earnings per share. As a group, sell-side analysts predict that Evertec Inc will post 1.71 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, February 26th were given a $0.05 dividend. The ex-dividend date was Monday, February 25th. This represents a $0.20 annualized dividend and a yield of 0.72%. Evertec’s dividend payout ratio (DPR) is currently 11.76%.

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Evertec Company Profile

EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.

Further Reading: NASDAQ Stock Market Explained

Want to see what other hedge funds are holding EVTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Evertec Inc (NYSE:EVTC).

Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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