LSV Asset Management decreased its holdings in Evertec Inc (NYSE:EVTC) by 12.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,100 shares of the business services provider’s stock after selling 20,500 shares during the period. LSV Asset Management owned about 0.20% of Evertec worth $3,496,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. Balter Liquid Alternatives LLC grew its position in shares of Evertec by 14.9% during the 2nd quarter. Balter Liquid Alternatives LLC now owns 20,173 shares of the business services provider’s stock worth $444,000 after buying an additional 2,614 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Evertec by 64.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,117 shares of the business services provider’s stock worth $171,000 after buying an additional 2,782 shares in the last quarter. Rhumbline Advisers grew its position in shares of Evertec by 3.2% during the 2nd quarter. Rhumbline Advisers now owns 143,326 shares of the business services provider’s stock worth $3,132,000 after buying an additional 4,402 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Evertec by 20.1% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 28,074 shares of the business services provider’s stock worth $677,000 after buying an additional 4,704 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd grew its position in shares of Evertec by 392.3% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 6,238 shares of the business services provider’s stock worth $150,000 after buying an additional 4,971 shares in the last quarter. Institutional investors and hedge funds own 79.81% of the company’s stock.
Shares of EVTC stock opened at $26.36 on Friday. Evertec Inc has a 1-year low of $12.88 and a 1-year high of $29.70. The stock has a market cap of $1.92 billion, a P/E ratio of 17.01 and a beta of 0.99. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.73 and a current ratio of 1.73.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Monday, November 5th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Friday, November 2nd. Evertec’s dividend payout ratio (DPR) is presently 13.61%.
In other Evertec news, insider Diana I. Rivera-Ramirez sold 1,500 shares of the stock in a transaction dated 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 sale, the insider now directly owns 24,915 shares in the company, valued at $586,748.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Miguel Vizcarrondo sold 30,000 shares of the stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $23.76, for a total value of $712,800.00. Following the completion of the sale, the executive vice president now owns 215,887 shares of the company’s stock, valued at $5,129,475.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,500 shares of company stock valued at $1,516,085. 0.76% of the stock is currently owned by company insiders.
A number of equities research analysts recently weighed in on EVTC shares. Deutsche Bank raised their price objective on Evertec from $20.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. Raymond James raised their price objective on Evertec from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, November 12th. Morgan Stanley raised their price objective on Evertec from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 1st. Finally, Zacks Investment Research raised Evertec from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Friday, November 2nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $23.29.
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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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