Evertec, Inc. $EVTC Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC trimmed its holdings in Evertec, Inc. (NYSE:EVTC) by 50.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,149 shares of the business services provider’s stock after selling 51,029 shares during the quarter. Great Lakes Advisors LLC owned about 0.08% of Evertec worth $1,694,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EVTC. Boston Partners acquired a new position in shares of Evertec in the 2nd quarter valued at $12,995,000. Globeflex Capital L P lifted its position in Evertec by 9,133.9% in the second quarter. Globeflex Capital L P now owns 289,207 shares of the business services provider’s stock valued at $10,426,000 after acquiring an additional 286,075 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Evertec by 422.5% in the second quarter. Qube Research & Technologies Ltd now owns 208,037 shares of the business services provider’s stock valued at $7,500,000 after acquiring an additional 168,225 shares in the last quarter. Gabelli Funds LLC acquired a new position in Evertec in the second quarter valued at $4,386,000. Finally, Marshall Wace LLP increased its position in shares of Evertec by 301.1% during the second quarter. Marshall Wace LLP now owns 115,876 shares of the business services provider’s stock worth $4,177,000 after purchasing an additional 86,990 shares in the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EVTC. Wall Street Zen cut Evertec from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods decreased their price objective on Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Susquehanna lowered 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. Morgan Stanley reduced their price target on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Evertec in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.80.

Evertec Stock Up 3.0%

EVTC stock opened at $30.13 on Friday. The stock has a market capitalization of $1.93 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.12 and a beta of 0.88. The company has a fifty day moving average of $29.45 and a 200-day moving average of $31.60. The company has a debt-to-equity ratio of 1.59, a quick ratio of 2.91 and a current ratio of 2.91. Evertec, Inc. has a one year low of $26.72 and a one year high of $38.56.

Evertec Profile

Evertec, Inc (NYSE: EVTC) is a leading full‐service transaction processor in Puerto Rico, Latin America and the Caribbean. The company delivers integrated technology solutions for electronic payments, providing financial institutions, merchants and governments with secure and scalable platforms to accept, process and settle transactions across card, ATM, debit and digital channels. Headquartered in San Juan, Puerto Rico, Evertec supports both domestic and cross‐border payment flows, enabling clients to streamline operations and expand their digital commerce capabilities.

Evertec’s suite of services includes merchant acquiring, payment gateway connectivity, ATM and point‐of‐sale network management, and fraud prevention solutions.