State of New Jersey Common Pension Fund D Sells 4,887 Shares of EVERTEC, Inc. (NYSE:EVTC)

State of New Jersey Common Pension Fund D decreased its holdings in EVERTEC, Inc. (NYSE:EVTCGet Rating) by 7.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,843 shares of the business services provider’s stock after selling 4,887 shares during the period. State of New Jersey Common Pension Fund D owned about 0.08% of EVERTEC worth $2,449,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of EVERTEC by 13.6% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,571,412 shares of the business services provider’s stock valued at $228,479,000 after purchasing an additional 546,882 shares during the last quarter. Capital International Investors grew its position in shares of EVERTEC by 8.7% in the fourth quarter. Capital International Investors now owns 3,464,441 shares of the business services provider’s stock valued at $173,201,000 after purchasing an additional 277,034 shares during the last quarter. American Century Companies Inc. grew its position in shares of EVERTEC by 17.0% in the fourth quarter. American Century Companies Inc. now owns 3,365,323 shares of the business services provider’s stock valued at $168,199,000 after purchasing an additional 488,136 shares during the last quarter. State Street Corp grew its position in shares of EVERTEC by 2.8% in the fourth quarter. State Street Corp now owns 2,013,617 shares of the business services provider’s stock valued at $100,641,000 after purchasing an additional 54,370 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its position in shares of EVERTEC by 14.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,068,523 shares of the business services provider’s stock valued at $53,405,000 after purchasing an additional 132,807 shares during the last quarter. Institutional investors own 83.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods decreased their target price on EVERTEC from $50.00 to $47.00 in a research report on Monday, July 11th. StockNews.com downgraded EVERTEC from a “buy” rating to a “hold” rating in a research report on Saturday, May 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.20.

Insider Buying and Selling at EVERTEC

In other EVERTEC news, EVP Luis A. Rodriguez-Gonzalez sold 9,238 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $37.57, for a total value of $347,071.66. Following the sale, the executive vice president now owns 30,020 shares of the company’s stock, valued at approximately $1,127,851.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.44% of the company’s stock.

EVERTEC Trading Down 1.9 %

Shares of NYSE:EVTC opened at $39.00 on Wednesday. The company has a market capitalization of $2.79 billion, a P/E ratio of 17.33 and a beta of 0.91. EVERTEC, Inc. has a 1 year low of $33.57 and a 1 year high of $51.06. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.95 and a quick ratio of 2.95. The business’s 50 day simple moving average is $36.82 and its 200 day simple moving average is $39.44.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Monday, August 8th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, August 5th. EVERTEC’s dividend payout ratio is presently 8.89%.

EVERTEC Profile

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EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; Business Solutions, and Corporate and Other segments. 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.

See Also

Institutional Ownership by Quarter for EVERTEC (NYSE:EVTC)

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