Evertec Inc. (EVTC) Position Lowered by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System decreased its position in shares of Evertec Inc. (NYSE:EVTC) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,230 shares of the company’s stock after selling 140 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Evertec were worth $361,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Pacad Investment Ltd. bought a new stake in shares of Evertec during the first quarter worth about $157,000. 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 in the last quarter. Lucus Advisors LLC bought a new stake in shares of Evertec during the second quarter worth about $347,000. 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 in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Evertec during the second quarter worth about $1,271,000. 80.69% of the stock is owned by hedge funds and other institutional investors.
Evertec Inc. (NYSE:EVTC) traded up 0.64% during mid-day trading on Wednesday, reaching $15.80. 199,889 shares of the company were exchanged. The stock’s 50-day moving average price is $16.74 and its 200-day moving average price is $15.57. Evertec Inc. has a 1-year low of $11.27 and a 1-year high of $19.63. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 13.80 and a beta of 1.12.
Evertec (NYSE:EVTC) last issued its earnings results on Thursday, July 28th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Evertec had a return on equity of 118.58% and a net margin of 19.59%. The business earned $97.70 million during the quarter, compared to the consensus estimate of $93.40 million. During the same period last year, the company earned $0.44 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts anticipate that Evertec Inc. will post $1.71 EPS for the current fiscal year.
A number of analysts have recently issued reports on EVTC shares. Zacks Investment Research raised shares of Evertec from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Tuesday, July 5th. Compass Point boosted their target price on shares of Evertec from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Finally, Deutsche Bank AG boosted their target price on shares of Evertec from $15.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $17.40.
Evertec Company Profile
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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