Boston Partners Purchases Shares of 363,466 Evertec, Inc. $EVTC

Boston Partners bought a new stake in shares of Evertec, Inc. (NYSE:EVTC) during the 2nd quarter, Holdings Channel reports. The firm bought 363,466 shares of the business services provider’s stock, valued at approximately $12,995,000.

A number of other large investors also recently added to or reduced their stakes in the business. XTX Topco Ltd lifted its position in Evertec by 50.5% in the second quarter. XTX Topco Ltd now owns 13,559 shares of the business services provider’s stock worth $489,000 after buying an additional 4,550 shares during the last quarter. Clifford Capital Partners LLC grew its stake in shares of Evertec by 3.0% in the second quarter. Clifford Capital Partners LLC now owns 435,431 shares of the business services provider’s stock worth $15,697,000 after acquiring an additional 12,880 shares in the last quarter. Prudential Financial Inc. raised its holdings in Evertec by 38.0% during the second quarter. Prudential Financial Inc. now owns 85,747 shares of the business services provider’s stock worth $3,091,000 after purchasing an additional 23,590 shares in the last quarter. American Century Companies Inc. grew its position in Evertec by 1.0% in the 2nd quarter. American Century Companies Inc. now owns 4,558,374 shares of the business services provider’s stock valued at $164,329,000 after buying an additional 46,147 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Evertec by 0.9% in the second quarter. Rhumbline Advisers now owns 175,026 shares of the business services provider’s stock valued at $6,310,000 after acquiring an additional 1,503 shares in the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

Evertec Price Performance

Shares of NYSE EVTC opened at $28.90 on Friday. The company has a market capitalization of $1.85 billion, a PE ratio of 13.63, a PEG ratio of 1.43 and a beta of 0.91. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.49. Evertec, Inc. has a twelve month low of $26.72 and a twelve month high of $38.56. The stock’s 50 day moving average price is $30.43 and its 200-day moving average price is $33.82.

Evertec Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 3rd will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, November 3rd. Evertec’s payout ratio is presently 8.89%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Evertec in a report on Monday. Keefe, Bruyette & Woods cut their price objective on Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Susquehanna dropped their target price on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Zacks Research lowered Evertec from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Finally, Morgan Stanley decreased their price objective on Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Evertec currently has an average rating of “Hold” and an average target price of $35.80.

Evertec Company Profile

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