Hussman Strategic Advisors Inc. Takes Position in Evertec, Inc. $EVTC

Hussman Strategic Advisors Inc. purchased a new position in shares of Evertec, Inc. (NYSE:EVTC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 42,000 shares of the business services provider’s stock, valued at approximately $1,419,000. Hussman Strategic Advisors Inc. owned 0.07% of Evertec as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners acquired a new position in Evertec during the 2nd quarter worth approximately $12,995,000. Globeflex Capital L P boosted its stake in shares of Evertec by 9,133.9% in the second quarter. Globeflex Capital L P now owns 289,207 shares of the business services provider’s stock valued at $10,426,000 after buying an additional 286,075 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in Evertec by 422.5% during the second quarter. Qube Research & Technologies Ltd now owns 208,037 shares of the business services provider’s stock worth $7,500,000 after acquiring an additional 168,225 shares during the period. Gabelli Funds LLC purchased a new position in Evertec in the second quarter worth $4,386,000. Finally, Marshall Wace LLP raised its position in Evertec by 301.1% in the second quarter. Marshall Wace LLP now owns 115,876 shares of the business services provider’s stock worth $4,177,000 after acquiring an additional 86,990 shares in the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on EVTC. Keefe, Bruyette & Woods decreased their target price on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. Wall Street Zen downgraded shares of Evertec from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Zacks Research lowered shares of Evertec from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Morgan Stanley reduced their price target on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Evertec in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.80.

Evertec Stock Performance

Shares of EVTC opened at $28.70 on Thursday. Evertec, Inc. has a 12-month low of $26.72 and a 12-month high of $38.56. The stock has a market cap of $1.84 billion, a P/E ratio of 12.75, a PEG ratio of 1.11 and a beta of 0.88. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 1.59. The company has a 50-day moving average of $29.42 and a two-hundred day moving average of $31.66.

Evertec Profile

Evertec, Inc (NYSE: EVTC) is a leading full?service transaction processor in Puerto Rico, Latin America and the Caribbean. The company delivers integrated technology solutions for electronic payments, providing financial institutions, merchants and governments with secure and scalable platforms to accept, process and settle transactions across card, ATM, debit and digital channels. Headquartered in San Juan, Puerto Rico, Evertec supports both domestic and cross?border payment flows, enabling clients to streamline operations and expand their digital commerce capabilities.

Evertec’s suite of services includes merchant acquiring, payment gateway connectivity, ATM and point?of?sale network management, and fraud prevention solutions.