Engineers Gate Manager LP Sells 7,260 Shares of Evertec Inc (EVTC)

Engineers Gate Manager LP lessened its stake in Evertec Inc (NYSE:EVTC) by 14.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,966 shares of the business services provider’s stock after selling 7,260 shares during the quarter. Engineers Gate Manager LP owned approximately 0.06% of Evertec worth $1,060,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. bought a new stake in Evertec during the third quarter worth about $614,000. State Board of Administration of Florida Retirement System lifted its stake in Evertec by 20.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 28,074 shares of the business services provider’s stock worth $677,000 after purchasing an additional 4,704 shares during the last quarter. USA Financial Portformulas Corp bought a new stake in Evertec during the third quarter worth about $393,000. Robeco Institutional Asset Management B.V. lifted its stake in Evertec by 70.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,481,017 shares of the business services provider’s stock worth $35,694,000 after purchasing an additional 611,311 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its stake in Evertec by 392.3% during the third quarter. Harvest Fund Management Co. Ltd now owns 6,238 shares of the business services provider’s stock worth $150,000 after purchasing an additional 4,971 shares during the last quarter. Institutional investors own 77.14% of the company’s stock.

In other Evertec news, insider Miguel Vizcarrondo sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $24.31, for a total transaction of $486,200.00. Following the transaction, the insider now owns 195,887 shares in the company, valued at approximately $4,762,012.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Luis A. Rodriguez-Gonzalez sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $23.48, for a total value of $281,760.00. Following the transaction, the executive vice president now owns 70,944 shares in the company, valued at approximately $1,665,765.12. The disclosure for this sale can be found here. Insiders have sold a total of 63,500 shares of company stock worth $1,516,085 in the last quarter. Company insiders own 0.76% of the company’s stock.

Shares of NYSE:EVTC opened at $28.48 on Friday. Evertec Inc has a 1 year low of $12.60 and a 1 year high of $29.70. The stock has a market cap of $2.09 billion, a P/E ratio of 19.37 and a beta of 0.99. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.52.

Evertec (NYSE:EVTC) last posted its earnings results on Tuesday, October 30th. The business services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. Evertec had a return on equity of 62.09% and a net margin of 16.52%. The firm had revenue of $112.02 million for the quarter, compared to the consensus estimate of $108.94 million. During the same quarter in the prior year, the business earned $0.33 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts expect that Evertec Inc will post 1.66 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Monday, November 5th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, November 2nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.70%. Evertec’s dividend payout ratio (DPR) is 13.61%.

Several equities research analysts have issued reports on EVTC shares. Morgan Stanley lifted their price target on Evertec from $19.00 to $23.00 and gave the stock a “$22.95” rating in a research note on Thursday, July 19th. Zacks Investment Research raised Evertec from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Friday, November 2nd. Deutsche Bank lifted their price target on Evertec from $20.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Finally, Raymond James raised Evertec from a “market perform” rating to an “outperform” rating in a research note on Wednesday, October 31st. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $21.67.

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Evertec 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.

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Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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