Ameriprise Financial Inc. raised its stake in shares of Evertec Inc (NYSE:EVTC) by 40.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 816,530 shares of the business services provider’s stock after purchasing an additional 233,353 shares during the period. Ameriprise Financial Inc. owned 1.13% of Evertec worth $12,941,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EVTC. Rivulet Capital LLC raised its position in shares of Evertec by 9.5% during the 2nd quarter. Rivulet Capital LLC now owns 3,201,605 shares of the business services provider’s stock valued at $55,388,000 after buying an additional 278,800 shares in the last quarter. Capital Research Global Investors raised its position in Evertec by 32.2% in the 2nd quarter. Capital Research Global Investors now owns 2,438,000 shares of the business services provider’s stock worth $42,177,000 after purchasing an additional 594,000 shares during the period. American Century Companies Inc. raised its position in Evertec by 8.0% in the 3rd quarter. American Century Companies Inc. now owns 2,081,518 shares of the business services provider’s stock worth $32,992,000 after purchasing an additional 154,656 shares during the period. Boston Partners raised its position in Evertec by 79.7% in the 3rd quarter. Boston Partners now owns 1,634,218 shares of the business services provider’s stock worth $25,902,000 after purchasing an additional 725,051 shares during the period. Finally, State Street Corp raised its position in Evertec by 6.2% in the 2nd quarter. State Street Corp now owns 1,265,945 shares of the business services provider’s stock worth $21,905,000 after purchasing an additional 74,230 shares during the period. 79.36% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on EVTC. BidaskClub lowered shares of Evertec from a “sell” rating to a “strong sell” rating in a research report on Friday, October 27th. TheStreet lowered shares of Evertec from a “b-” rating to a “c+” rating in a research report on Thursday, October 19th. Zacks Investment Research lowered shares of Evertec from a “hold” rating to a “strong sell” rating in a research report on Monday, October 16th. Deutsche Bank reduced their price objective on shares of Evertec from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, November 8th. Finally, Cowen reissued a “hold” rating and issued a $20.00 price objective on shares of Evertec in a research report on Thursday, October 12th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $17.83.

Shares of Evertec Inc (NYSE:EVTC) opened at $13.15 on Monday. The firm has a market cap of $951.93, a PE ratio of 7.97, a P/E/G ratio of 1.81 and a beta of 1.14. Evertec Inc has a 1 year low of $12.60 and a 1 year high of $19.52. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.00 and a quick ratio of 1.00.

Evertec (NYSE:EVTC) last issued its earnings results on Tuesday, November 7th. The business services provider reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.08). The company had revenue of $102.70 million for the quarter, compared to analysts’ expectations of $97.11 million. Evertec had a return on equity of 95.54% and a net margin of 15.92%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. equities research analysts predict that Evertec Inc will post 1.46 earnings per share for the current fiscal year.

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About Evertec

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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Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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