Sapience Investments LLC lifted its holdings in shares of Evertec Inc (NYSE:EVTC) by 3.0% during the fourth quarter, Holdings Channel reports. The fund owned 1,280,870 shares of the business services provider’s stock after acquiring an additional 37,550 shares during the period. Evertec accounts for approximately 2.4% of Sapience Investments LLC’s holdings, making the stock its 10th biggest holding. Sapience Investments LLC’s holdings in Evertec were worth $17,484,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of EVTC. Quantitative Systematic Strategies LLC purchased a new stake in shares of Evertec during the fourth quarter worth about $141,000. SG Americas Securities LLC purchased a new stake in shares of Evertec during the third quarter worth about $146,000. Boothbay Fund Management LLC purchased a new stake in Evertec in the third quarter valued at approximately $187,000. Cigna Investments Inc. New purchased a new stake in Evertec in the fourth quarter valued at approximately $203,000. Finally, Ramsey Quantitative Systems purchased a new stake in Evertec in the fourth quarter valued at approximately $221,000. Institutional investors and hedge funds own 82.84% of the company’s stock.
EVTC has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered Evertec from a “neutral” rating to an “underweight” rating in a research report on Tuesday, December 12th. Zacks Investment Research lowered Evertec from a “hold” rating to a “sell” rating in a research report on Thursday, February 22nd. Morgan Stanley reiterated an “equal weight” rating and issued a $18.00 target price (up previously from $17.00) on shares of Evertec in a research report on Thursday, February 22nd. Cowen reiterated a “hold” rating and issued a $18.00 target price on shares of Evertec in a research report on Friday, March 2nd. Finally, Goldman Sachs Group lowered Evertec from a “neutral” rating to a “sell” rating and dropped their target price for the company from $15.00 to $12.00 in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Evertec currently has an average rating of “Hold” and an average price target of $17.00.
Evertec (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. Evertec had a return on equity of 78.61% and a net margin of 13.52%. The company had revenue of $99.63 million during the quarter, compared to the consensus estimate of $89.98 million. During the same period in the previous year, the company posted $0.43 earnings per share. Evertec’s revenue for the quarter was down 2.2% on a year-over-year basis. equities research analysts predict that Evertec Inc will post 1.26 EPS for the current fiscal year.
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Evertec Company Profile
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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