Fmr LLC Has $167.13 Million Stake in Evertec, Inc. (EVTC)
Fmr LLC reduced its stake in Evertec, Inc. (NYSE:EVTC) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,511,223 shares of the business services provider’s stock after selling 432,598 shares during the period. Fmr LLC owned about 0.14% of Evertec worth $167,128,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in EVTC. Norges Bank acquired a new stake in Evertec during the fourth quarter valued at about $14,617,000. Teachers Advisors LLC raised its stake in Evertec by 525.8% in the fourth quarter. Teachers Advisors LLC now owns 948,851 shares of the business services provider’s stock valued at $16,842,000 after buying an additional 797,226 shares during the period. Denver Investment Advisors LLC raised its stake in Evertec by 609.7% in the first quarter. Denver Investment Advisors LLC now owns 719,211 shares of the business services provider’s stock valued at $11,435,000 after buying an additional 617,864 shares during the period. Renaissance Technologies LLC raised its stake in Evertec by 13.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,729,000 shares of the business services provider’s stock valued at $48,440,000 after buying an additional 321,700 shares during the period. Finally, American Century Companies Inc. raised its stake in Evertec by 11.3% in the first quarter. American Century Companies Inc. now owns 2,106,481 shares of the business services provider’s stock valued at $33,493,000 after buying an additional 213,337 shares during the period. 79.04% of the stock is currently owned by institutional investors and hedge funds.
Evertec, Inc. (NYSE:EVTC) traded down 1.618% during trading on Tuesday, reaching $16.725. 35,789 shares of the company’s stock were exchanged. The company has a market cap of $1.21 billion, a P/E ratio of 15.793 and a beta of 1.25. The stock’s 50-day moving average is $16.54 and its 200-day moving average is $16.86. Evertec, Inc. has a 12-month low of $14.15 and a 12-month high of $18.60.
Evertec (NYSE:EVTC) last released its quarterly earnings data on Wednesday, May 3rd. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.06. The firm had revenue of $101.28 million for the quarter, compared to analysts’ expectations of $98.66 million. Evertec had a net margin of 19.96% and a return on equity of 113.44%. Analysts predict that Evertec, Inc. will post $1.65 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Monday, May 8th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Thursday, May 4th. Evertec’s payout ratio is currently 37.74%.
EVTC has been the topic of several research reports. Zacks Investment Research raised shares of Evertec from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Wednesday, February 22nd. Stifel Nicolaus boosted their price objective on shares of Evertec from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, February 23rd. Finally, ValuEngine cut shares of Evertec from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $18.40.
Evertec Company Profile
EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.
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