Continental Advisors LLC Invests $4.88 Million in Evertec Inc (EVTC) Stock
Continental Advisors LLC acquired a new stake in shares of Evertec Inc (NYSE:EVTC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 357,347 shares of the business services provider’s stock, valued at approximately $4,878,000. Evertec makes up 1.1% of Continental Advisors LLC’s investment portfolio, making the stock its 27th largest holding.
Several other institutional investors have also recently modified their holdings of EVTC. Quantitative Systematic Strategies LLC purchased a new position in shares of Evertec during the fourth quarter valued at about $141,000. SG Americas Securities LLC purchased a new position in shares of Evertec during the third quarter valued at about $146,000. Boothbay Fund Management LLC purchased a new position in shares of Evertec during the third quarter valued at about $187,000. Fox Run Management L.L.C. purchased a new position in shares of Evertec during the third quarter valued at about $189,000. Finally, Cigna Investments Inc. New purchased a new position in shares of Evertec during the fourth quarter valued at about $203,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.
EVTC has been the subject of a number of research analyst reports. Zacks Investment Research lowered Evertec from a “hold” rating to a “strong sell” rating in a research report on Monday, January 8th. Deutsche Bank cut their price objective on Evertec from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Wednesday, November 8th. JPMorgan Chase & Co. lowered Evertec from a “neutral” rating to an “underweight” rating in a research report on Tuesday, December 12th. Goldman Sachs Group lowered Evertec from a “neutral” rating to a “sell” rating and cut their price objective for the company from $15.00 to $12.00 in a research report on Wednesday, January 17th. Finally, Stifel Nicolaus cut their price objective on Evertec from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.00.
Evertec (NYSE:EVTC) last released its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The company had revenue of $99.63 million during the quarter, compared to analyst estimates of $89.98 million. Evertec had a return on equity of 80.93% and a net margin of 13.52%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.43 earnings per share. analysts expect that Evertec Inc will post 1.26 EPS for the current year.
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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