Fmr LLC Has $165.55 Million Stake in Evertec Inc (EVTC)

Fmr LLC raised its holdings in shares of Evertec Inc (NYSE:EVTC) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,869,252 shares of the business services provider’s stock after acquiring an additional 141,921 shares during the quarter. Fmr LLC owned approximately 9.44% of Evertec worth $165,549,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in EVTC. Harvest Fund Management Co. Ltd boosted its position in shares of Evertec by 392.3% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 6,238 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 4,971 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of Evertec by 64.2% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,117 shares of the business services provider’s stock valued at $171,000 after purchasing an additional 2,782 shares during the period. First Hawaiian Bank acquired a new stake in shares of Evertec in the 3rd quarter valued at about $191,000. United Services Automobile Association acquired a new stake in shares of Evertec in the 2nd quarter valued at about $207,000. Finally, Amalgamated Bank acquired a new stake in shares of Evertec in the 2nd quarter valued at about $213,000. 79.64% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently issued reports on EVTC shares. Raymond James upped their target price on Evertec from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, November 12th. Keefe, Bruyette & Woods started coverage on Evertec in a research report on Thursday. They issued an “outperform” rating and a $32.00 target price for the company. Finally, Zacks Investment Research raised Evertec from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Friday, November 2nd. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.38.

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 completion of the sale, the insider now directly owns 195,887 shares of the company’s stock, valued at approximately $4,762,012.97. The transaction was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $23.48, for a total value of $281,760.00. Following the sale, the executive vice president now directly owns 70,944 shares of the company’s stock, valued at $1,665,765.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,500 shares of company stock valued at $803,285. 0.76% of the stock is owned by company insiders.

EVTC opened at $27.12 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.52. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 18.45 and a beta of 1.03. Evertec Inc has a 52 week low of $12.88 and a 52 week high of $29.70.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Monday, November 5th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.74%. The ex-dividend date was Friday, November 2nd. Evertec’s dividend payout ratio is presently 13.61%.

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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.

Further Reading: What is a capital gain?

Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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