Evertec (NYSE:EVTC) Shares Up 13.2%

Shares of Evertec Inc (NYSE:EVTC) shot up 13.2% during mid-day trading on Monday . The company traded as high as $23.10 and last traded at $22.95, 419,476 shares traded hands during trading. A decline of 7% from the average session volume of 452,660 shares. The stock had previously closed at $20.28.

Separately, Zacks Investment Research downgraded Evertec from a “hold” rating to a “strong sell” rating in a research report on Friday, February 28th.

The company has a 50 day moving average of $26.58 and a 200 day moving average of $31.06. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 16.28 and a beta of 1.01. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.97.

Evertec (NYSE:EVTC) last posted its earnings results on Tuesday, February 25th. The business services provider reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The company had revenue of $127.19 million during the quarter, compared to analyst estimates of $121.69 million. Evertec had a return on equity of 54.99% and a net margin of 21.23%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 earnings per share. As a group, equities research analysts expect that Evertec Inc will post 1.88 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Stockholders of record on Wednesday, March 4th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Tuesday, March 3rd. Evertec’s dividend payout ratio (DPR) is presently 11.05%.

A number of hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue grew its holdings in Evertec by 17.0% in the 1st quarter. State of Alaska Department of Revenue now owns 52,712 shares of the business services provider’s stock worth $1,198,000 after buying an additional 7,640 shares in the last quarter. Norges Bank bought a new position in Evertec in the 4th quarter worth approximately $39,236,000. Mason Street Advisors LLC grew its holdings in Evertec by 2.6% in the 4th quarter. Mason Street Advisors LLC now owns 20,794 shares of the business services provider’s stock worth $708,000 after buying an additional 522 shares in the last quarter. Capital International Investors grew its holdings in Evertec by 24.3% in the 4th quarter. Capital International Investors now owns 399,300 shares of the business services provider’s stock worth $13,592,000 after buying an additional 78,100 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Evertec by 16.9% in the 4th quarter. Alliancebernstein L.P. now owns 219,019 shares of the business services provider’s stock worth $7,455,000 after buying an additional 31,600 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Evertec Company Profile (NYSE:EVTC)

EVERTEC, Inc engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates in four segments: Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; and Business Solutions.

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