Mutual of America Capital Management LLC Has $326,000 Position in EVERTEC, Inc. (NYSE:EVTC)

Mutual of America Capital Management LLC reduced its holdings in EVERTEC, Inc. (NYSE:EVTC) by 9.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,623 shares of the business services provider’s stock after selling 964 shares during the quarter. Mutual of America Capital Management LLC’s holdings in EVERTEC were worth $326,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of Montreal Can grew its position in shares of EVERTEC by 1.1% in the second quarter. Bank of Montreal Can now owns 35,084 shares of the business services provider’s stock valued at $1,191,000 after purchasing an additional 381 shares during the last quarter. Louisiana State Employees Retirement System grew its position in EVERTEC by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider’s stock worth $1,077,000 after buying an additional 400 shares in the last quarter. nVerses Capital LLC grew its position in EVERTEC by 12.5% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the business services provider’s stock worth $122,000 after buying an additional 400 shares in the last quarter. Arizona State Retirement System grew its position in EVERTEC by 3.2% during the second quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider’s stock worth $609,000 after buying an additional 561 shares in the last quarter. Finally, Blair William & Co. IL grew its position in EVERTEC by 2.2% during the second quarter. Blair William & Co. IL now owns 31,918 shares of the business services provider’s stock worth $1,061,000 after buying an additional 679 shares in the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.

EVERTEC Stock Up 0.3 %

Shares of EVTC opened at $35.85 on Friday. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 1.67 and a beta of 1.15. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a 12 month low of $28.76 and a 12 month high of $42.21. The company has a 50-day moving average price of $33.89 and a two-hundred day moving average price of $33.82.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The firm had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. Equities analysts predict that EVERTEC, Inc. will post 2.55 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Monday, October 28th. EVERTEC’s dividend payout ratio (DPR) is currently 15.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on EVTC shares. Susquehanna downgraded EVERTEC from a “neutral” rating to a “negative” rating and decreased their target price for the stock from $38.00 to $28.00 in a research report on Thursday, September 5th. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $33.00 to $35.00 in a research report on Thursday, November 21st.

EVERTEC Profile

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. 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.