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, 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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