Evertec, Inc. (NYSE:EVTC) Shares Sold by Legal & General Group Plc
Legal & General Group Plc reduced its stake in shares of Evertec, Inc. (NYSE:EVTC) by 1.3% during the first quarter, Holdings Channel reports. The firm owned 24,014 shares of the business services provider’s stock after selling 312 shares during the period. Legal & General Group Plc’s holdings in Evertec were worth $381,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the stock. TIAA CREF Investment Management LLC raised its stake in shares of Evertec by 5.1% in the first quarter. TIAA CREF Investment Management LLC now owns 556,480 shares of the business services provider’s stock valued at $8,848,000 after buying an additional 27,126 shares during the period. Principal Financial Group Inc. raised its stake in shares of Evertec by 7.5% in the first quarter. Principal Financial Group Inc. now owns 38,689 shares of the business services provider’s stock valued at $615,000 after buying an additional 2,699 shares during the period. Spark Investment Management LLC bought a new stake in shares of Evertec during the first quarter valued at about $1,087,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Evertec during the first quarter valued at about $181,000. Finally, American International Group Inc. raised its stake in shares of Evertec by 7.0% in the first quarter. American International Group Inc. now owns 39,121 shares of the business services provider’s stock valued at $622,000 after buying an additional 2,573 shares during the period. Hedge funds and other institutional investors own 79.09% of the company’s stock.
Evertec, Inc. (NYSE:EVTC) opened at 18.00 on Monday. The firm has a 50-day moving average price of $17.23 and a 200 day moving average price of $16.73. The firm has a market capitalization of $1.31 billion, a P/E ratio of 16.84 and a beta of 1.25. Evertec, Inc. has a 52-week low of $14.15 and a 52-week high of $19.52.
Evertec (NYSE:EVTC) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $103.51 million for the quarter, compared to the consensus estimate of $100.21 million. Evertec had a return on equity of 107.21% and a net margin of 19.64%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $0.43 EPS. Analysts forecast that Evertec, Inc. will post $1.70 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Monday, August 7th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.22%. Evertec’s dividend payout ratio (DPR) is 37.74%.
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Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Evertec from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Thursday. BidaskClub upgraded shares of Evertec from a “sell” rating to a “hold” rating in a report on Thursday. Finally, ValuEngine lowered shares of Evertec from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.00.
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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