Alpine Peaks Capital LP Takes Position in EVERTEC, Inc. (NYSE:EVTC)

Alpine Peaks Capital LP acquired a new stake in shares of EVERTEC, Inc. (NYSE:EVTCGet Rating) during the fourth quarter, Holdings Channel reports. The fund acquired 67,100 shares of the business services provider’s stock, valued at approximately $3,354,000. EVERTEC makes up about 3.3% of Alpine Peaks Capital LP’s investment portfolio, making the stock its 18th biggest position.

Several other large investors also recently made changes to their positions in EVTC. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of EVERTEC by 13.6% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,571,412 shares of the business services provider’s stock valued at $228,479,000 after buying an additional 546,882 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of EVERTEC by 234.7% during the fourth quarter. Bank of America Corp DE now owns 706,022 shares of the business services provider’s stock worth $35,286,000 after purchasing an additional 495,099 shares during the period. American Century Companies Inc. boosted its holdings in shares of EVERTEC by 17.0% during the fourth quarter. American Century Companies Inc. now owns 3,365,323 shares of the business services provider’s stock worth $168,199,000 after purchasing an additional 488,136 shares during the period. Bares Capital Management Inc. purchased a new stake in shares of EVERTEC during the third quarter worth about $13,221,000. Finally, Schroder Investment Management Group boosted its holdings in shares of EVERTEC by 60.1% during the fourth quarter. Schroder Investment Management Group now owns 354,166 shares of the business services provider’s stock worth $17,701,000 after purchasing an additional 132,900 shares during the period. 83.26% of the stock is currently owned by hedge funds and other institutional investors.

EVTC has been the subject of a number of analyst reports. Susquehanna dropped their target price on shares of EVERTEC from $49.00 to $43.00 in a report on Friday, February 25th. Susquehanna Bancshares dropped their target price on shares of EVERTEC from $49.00 to $43.00 in a report on Friday, February 25th. Zacks Investment Research upgraded shares of EVERTEC from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Raymond James lowered their price objective on shares of EVERTEC from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Friday, February 25th. Finally, StockNews.com lowered shares of EVERTEC from a “buy” rating to a “hold” rating in a report on Saturday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $44.00.

EVTC traded up $0.54 on Thursday, hitting $37.97. The company had a trading volume of 191,585 shares, compared to its average volume of 293,441. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.95 and a quick ratio of 2.95. EVERTEC, Inc. has a 52-week low of $36.00 and a 52-week high of $51.06. The stock has a fifty day simple moving average of $39.70 and a 200-day simple moving average of $42.87. The firm has a market capitalization of $2.72 billion, a P/E ratio of 16.88 and a beta of 0.96.

EVERTEC (NYSE:EVTCGet Rating) last announced its earnings results on Thursday, April 28th. The business services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. EVERTEC had a net margin of 27.40% and a return on equity of 43.09%. The business had revenue of $150.20 million during the quarter, compared to the consensus estimate of $146.07 million. During the same quarter last year, the firm earned $0.58 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts expect that EVERTEC, Inc. will post 2.37 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 3rd. Shareholders of record on Monday, May 2nd will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Friday, April 29th. EVERTEC’s dividend payout ratio is 8.89%.

In related news, CEO Morgan M. Schuessler sold 74,586 shares of the firm’s stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $37.65, for a total transaction of $2,808,162.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Guillermo Rospigliosi sold 2,870 shares of the firm’s stock in a transaction that occurred on Saturday, March 5th. The shares were sold at an average price of $28.00, for a total transaction of $80,360.00. The disclosure for this sale can be found here. Insiders have sold 220,747 shares of company stock valued at $8,474,693 in the last ninety days. Insiders own 0.44% of the company’s stock.

About EVERTEC (Get Rating)

EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; Business Solutions, and Corporate and Other segments. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.

See Also

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Institutional Ownership by Quarter for EVERTEC (NYSE:EVTC)

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