Sapience Investments LLC lifted its position in Evertec Inc (NYSE:EVTC) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,280,870 shares of the business services provider’s stock after acquiring an additional 37,550 shares during the quarter. Evertec accounts for approximately 2.4% of Sapience Investments LLC’s investment portfolio, making the stock its 10th largest holding. Sapience Investments LLC owned approximately 1.77% of Evertec worth $17,484,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in EVTC. Quantitative Systematic Strategies LLC bought a new stake in shares of Evertec in the fourth quarter valued at about $141,000. SG Americas Securities LLC bought a new stake in shares of Evertec in the third quarter valued at about $146,000. Boothbay Fund Management LLC bought a new stake in shares of Evertec in the third quarter valued at about $187,000. Cigna Investments Inc. New bought a new stake in shares of Evertec in the fourth quarter valued at about $203,000. Finally, Ramsey Quantitative Systems bought a new stake in shares of Evertec in the fourth quarter valued at about $221,000. Hedge funds and other institutional investors own 82.84% of the company’s stock.
Several research firms recently weighed in on EVTC. Zacks Investment Research downgraded Evertec from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. downgraded Evertec from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $18.00 target price (up from $17.00) on shares of Evertec in a report on Thursday, February 22nd. Goldman Sachs Group upgraded shares of Evertec from a “sell” rating to a “neutral” rating in a report on Thursday, February 22nd. Finally, Cowen reiterated a “market perform” rating and issued a $18.00 target price (up from $14.00) on shares of Evertec in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $17.00.
Evertec (NYSE:EVTC) last issued its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. Evertec had a return on equity of 78.61% and a net margin of 13.52%. The business had revenue of $99.63 million for the quarter, compared to analyst estimates of $89.98 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. equities analysts predict that Evertec Inc will post 1.26 EPS for the current fiscal year.
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EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.
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