Summit Global Investments purchased a new position in shares of Evertec, Inc. (NYSE:EVTC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,400 shares of the business services provider’s stock, valued at approximately $526,000.
Several other institutional investors and hedge funds have also modified their holdings of EVTC. IFP Advisors Inc acquired a new stake in shares of Evertec during the second quarter worth about $108,000. BNP Paribas Arbitrage SA increased its stake in shares of Evertec by 497.5% during the second quarter. BNP Paribas Arbitrage SA now owns 7,062 shares of the business services provider’s stock worth $122,000 after buying an additional 5,880 shares during the period. Koch Industries Inc. purchased a new stake in shares of Evertec during the first quarter worth approximately $169,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Evertec during the first quarter worth approximately $171,000. Finally, DF Dent & Co. Inc. increased its stake in shares of Evertec by 0.7% during the first quarter. DF Dent & Co. Inc. now owns 10,832 shares of the business services provider’s stock worth $172,000 after buying an additional 79 shares during the period. 77.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of Evertec, Inc. (EVTC) traded down 2.11% during trading on Tuesday, reaching $18.60. 30,390 shares of the company’s stock traded hands. The company has a 50 day moving average price of $18.32 and a 200 day moving average price of $16.97. The stock has a market capitalization of $1.35 billion, a PE ratio of 17.40 and a beta of 1.24. Evertec, Inc. has a 1-year low of $14.15 and a 1-year high of $19.52.
Evertec (NYSE:EVTC) last announced its earnings results on Tuesday, August 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.02. Evertec had a return on equity of 107.21% and a net margin of 19.64%. The company had revenue of $103.51 million for the quarter, compared to analyst estimates of $100.21 million. During the same period in the prior year, the company posted $0.43 EPS. Evertec’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts forecast that Evertec, Inc. will post $1.70 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Monday, August 7th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Thursday, August 3rd. Evertec’s payout ratio is 37.74%.
A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Evertec from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Thursday, August 3rd. ValuEngine lowered shares of Evertec from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded shares of Evertec from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $19.00.
EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.
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