Evertec Inc (EVTC) Holdings Trimmed by LSV Asset Management

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.

Evertec (NYSE:EVTC) last issued its quarterly earnings data on Tuesday, October 30th. The business services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. Evertec had a return on equity of 62.09% and a net margin of 16.52%. The company had revenue of $112.02 million for the quarter, compared to the consensus estimate of $108.94 million. During the same quarter last year, the company earned $0.33 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities analysts anticipate that Evertec Inc will post 1.66 earnings per share for the current fiscal year.

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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About Evertec

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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Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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