Evertec Inc (EVTC) Holdings Increased by Fmr LLC
Fmr LLC raised its position in shares of Evertec Inc (NYSE:EVTC) by 37.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 6,727,331 shares of the business services provider’s stock after purchasing an additional 1,835,720 shares during the quarter. Fmr LLC owned approximately 9.25% of Evertec worth $146,992,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Evertec during the 2nd quarter valued at approximately $2,762,000. Amalgamated Bank acquired a new stake in Evertec during the 2nd quarter valued at approximately $213,000. Sei Investments Co. increased its position in Evertec by 7.5% during the 2nd quarter. Sei Investments Co. now owns 101,496 shares of the business services provider’s stock valued at $2,218,000 after purchasing an additional 7,066 shares during the period. Eqis Capital Management Inc. acquired a new stake in Evertec during the 2nd quarter valued at approximately $610,000. Finally, Bayesian Capital Management LP acquired a new stake in Evertec during the 1st quarter valued at approximately $221,000. 79.12% of the stock is owned by institutional investors and hedge funds.
In related news, COO Philip E. Steurer sold 10,000 shares of the stock in a transaction on Friday, August 10th. The stock was sold at an average price of $24.39, for a total value of $243,900.00. Following the transaction, the chief operating officer now directly owns 123,930 shares in the company, valued at approximately $3,022,652.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Diana I. Rivera-Ramirez sold 1,500 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $23.55, for a total value of $35,325.00. Following the completion of the transaction, the insider now owns 24,915 shares in the company, valued at $586,748.25. The disclosure for this sale can be found here. Insiders have sold a total of 53,500 shares of company stock worth $1,273,785 over the last 90 days. Company insiders own 0.76% of the company’s stock.
Evertec (NYSE:EVTC) last posted its quarterly earnings results on Tuesday, July 31st. The business services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $113.35 million for the quarter, compared to analysts’ expectations of $111.77 million. Evertec had a return on equity of 64.95% and a net margin of 12.91%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 EPS. sell-side analysts forecast that Evertec Inc will post 1.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Monday, August 6th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Friday, August 3rd. Evertec’s payout ratio is 13.61%.
A number of analysts have weighed in on EVTC shares. ValuEngine raised shares of Evertec from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Morgan Stanley increased their price target on Evertec from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 1st. Zacks Investment Research cut Evertec from a “buy” rating to a “hold” rating in a report on Monday, June 25th. Deutsche Bank increased their price target on Evertec from $20.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 1st. Finally, Raymond James started coverage on Evertec in a report on Friday, June 15th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $21.33.
Evertec Company Profile
EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.
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