Principal Financial Group Inc. Purchases 34,304 Shares of Evertec, Inc. $EVTC

Principal Financial Group Inc. boosted its position in shares of Evertec, Inc. (NYSE:EVTC) by 10.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 349,945 shares of the business services provider’s stock after purchasing an additional 34,304 shares during the quarter. Principal Financial Group Inc. owned 0.55% of Evertec worth $11,821,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Richardson Financial Services Inc. boosted its position in shares of Evertec by 132.6% during the third quarter. Richardson Financial Services Inc. now owns 763 shares of the business services provider’s stock worth $26,000 after purchasing an additional 435 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Evertec by 479.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,355 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 1,121 shares in the last quarter. Blue Trust Inc. grew its position in shares of Evertec by 28.6% in the 2nd quarter. Blue Trust Inc. now owns 1,958 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 436 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Evertec by 2,751.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,996 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 1,926 shares during the period. Finally, Diversified Trust Co bought a new stake in Evertec during the 3rd quarter worth approximately $221,000. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Evertec Trading Down 2.4%

NYSE EVTC opened at $26.21 on Thursday. Evertec, Inc. has a 12 month low of $26.03 and a 12 month high of $38.56. 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 stock has a 50 day moving average of $29.19 and a 200-day moving average of $31.28. The company has a market cap of $1.68 billion, a PE ratio of 11.65, a PEG ratio of 1.02 and a beta of 0.86.

Analysts Set New Price Targets

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

About Evertec

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.