Evertec Inc. (EVTC) Stake Maintained by North Star Asset Management Inc.
North Star Asset Management Inc. continued to hold its stake in Evertec Inc. (NYSE:EVTC) during the second quarter, Holdings Channel reports. The fund owned 675,991 shares of the company’s stock at the end of the second quarter. Evertec accounts for approximately 1.1% of North Star Asset Management Inc.’s portfolio, making the stock its 27th largest position. North Star Asset Management Inc.’s holdings in Evertec were worth $9,450,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the company. Pacad Investment Ltd. purchased a new stake in Evertec during the first quarter valued at about $157,000. Legal & General Group Plc raised its stake in shares of Evertec by 5.9% in the first quarter. Legal & General Group Plc now owns 14,421 shares of the company’s stock worth $201,000 after buying an additional 800 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Evertec by 6.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,630 shares of the company’s stock worth $316,000 after buying an additional 1,330 shares during the last quarter. Lucus Advisors LLC bought a new stake in shares of Evertec during the second quarter worth $347,000. Finally, Stoneridge Investment Partners LLC raised its stake in shares of Evertec by 167.1% in the second quarter. Stoneridge Investment Partners LLC now owns 76,144 shares of the company’s stock worth $1,183,000 after buying an additional 47,634 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.
Evertec Inc. (NYSE:EVTC) traded down 1.53% during midday trading on Friday, hitting $16.08. 237,503 shares of the stock traded hands. Evertec Inc. has a 12-month low of $11.27 and a 12-month high of $19.66. The company’s 50-day moving average is $16.81 and its 200 day moving average is $15.50. The firm has a market cap of $1.20 billion, a P/E ratio of 14.04 and a beta of 1.12.
Evertec (NYSE:EVTC) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.02. Evertec had a net margin of 19.59% and a return on equity of 118.58%. The firm earned $97.70 million during the quarter, compared to analyst estimates of $93.40 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Evertec’s quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts anticipate that Evertec Inc. will post $1.71 EPS for the current fiscal year.
A number of brokerages recently weighed in on EVTC. Zacks Investment Research lowered shares of Evertec from a “buy” rating to a “sell” rating in a report on Monday. Compass Point lifted their price objective on shares of Evertec from $17.00 to $19.00 and gave the company a “buy” rating in a report on Friday, July 29th. Finally, Deutsche Bank AG lifted their price objective on shares of Evertec from $15.00 to $18.00 and gave the company a “hold” rating in a report on Friday, July 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Evertec has a consensus rating of “Hold” and an average price target of $17.40.
EVERTEC, Inc is a service transaction processing business in Latin America. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. The Merchant Acquiring segment consists of services that allow merchants to accept electronic methods of payment. Its services include a discount fee and membership fees charged to merchants, debit network fees and rental fees from point-of-sale (POS) devices and other equipment, net of credit card interchange and assessment fees.
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