GSA Capital Partners LLP boosted its holdings in Evertec Inc (NYSE:EVTC) by 126.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 63,446 shares of the business services provider’s stock after acquiring an additional 35,397 shares during the quarter. GSA Capital Partners LLP’s holdings in Evertec were worth $1,529,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in EVTC. United Services Automobile Association increased its position in shares of Evertec by 48.9% during the third quarter. United Services Automobile Association now owns 14,089 shares of the business services provider’s stock worth $340,000 after acquiring an additional 4,630 shares in the last quarter. Stevens Capital Management LP acquired a new position in Evertec during the third quarter worth $311,000. Dimensional Fund Advisors LP boosted its holdings in Evertec by 26.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,105,078 shares of the business services provider’s stock worth $26,632,000 after purchasing an additional 229,305 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Evertec by 19.8% during the third quarter. Panagora Asset Management Inc. now owns 403,313 shares of the business services provider’s stock worth $9,720,000 after purchasing an additional 66,796 shares during the last quarter. Finally, Alambic Investment Management L.P. boosted its holdings in Evertec by 24.6% during the third quarter. Alambic Investment Management L.P. now owns 17,073 shares of the business services provider’s stock worth $411,000 after purchasing an additional 3,373 shares during the last quarter. Institutional investors and hedge funds own 79.64% of the company’s stock.
Shares of EVTC stock opened at $26.80 on Friday. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 17.02 and a beta of 1.03. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.52. Evertec Inc has a one year low of $12.88 and a one year high of $29.70.
Evertec (NYSE:EVTC) last announced its quarterly earnings results on Tuesday, October 30th. The business services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $112.02 million during the quarter, compared to analysts’ expectations of $108.94 million. Evertec had a net margin of 16.52% and a return on equity of 62.09%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 earnings per share. As a group, equities research analysts predict that Evertec Inc will post 1.66 earnings per share for the current fiscal year.
The company 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 0.75%. The ex-dividend date of this dividend is Friday, November 2nd. Evertec’s dividend payout ratio is currently 13.61%.
EVTC has been the subject of several recent research reports. Raymond James increased their target price on shares of Evertec from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, November 12th. Keefe, Bruyette & Woods initiated coverage on shares of Evertec in a report on Thursday. They set an “outperform” rating for the company. Finally, Zacks Investment Research upgraded shares of Evertec from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Friday, November 2nd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Evertec currently has an average rating of “Buy” and a consensus price target of $23.29.
In other Evertec news, insider Diana I. Rivera-Ramirez sold 1,500 shares of the stock in a transaction on Monday, September 10th. The shares were 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 owns 24,915 shares in the company, valued at $586,748.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Miguel Vizcarrondo sold 20,000 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $24.31, for a total transaction of $486,200.00. Following the completion of the sale, the insider now owns 195,887 shares of the company’s stock, valued at approximately $4,762,012.97. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,500 shares of company stock valued at $803,285. Corporate insiders own 0.76% of the company’s stock.
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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.
Further Reading: Yield Curve
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