First Trust Advisors LP bought a new position in shares of Evertec Inc (NYSE:EVTC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 59,792 shares of the business services provider’s stock, valued at approximately $1,306,000. First Trust Advisors LP owned approximately 0.08% of Evertec at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Swiss National Bank grew its stake in shares of Evertec by 5.4% during the first quarter. Swiss National Bank now owns 107,074 shares of the business services provider’s stock worth $1,751,000 after purchasing an additional 5,500 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Evertec by 58.8% during the first quarter. BNP Paribas Arbitrage SA now owns 19,529 shares of the business services provider’s stock worth $319,000 after purchasing an additional 7,229 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Evertec by 11.2% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 95,038 shares of the business services provider’s stock worth $2,077,000 after purchasing an additional 9,605 shares in the last quarter. Amalgamated Bank acquired a new position in shares of Evertec during the second quarter worth $213,000. Finally, Profund Advisors LLC acquired a new position in shares of Evertec during the first quarter worth $181,000. Hedge funds and other institutional investors own 79.12% of the company’s stock.
In other news, insider Diana I. Rivera-Ramirez sold 1,500 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $23.55, for a total value of $35,325.00. Following the completion of the sale, the insider now directly owns 24,915 shares of the company’s stock, valued at $586,748.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Philip E. Steurer sold 10,000 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $24.39, for a total transaction of $243,900.00. Following the completion of the sale, the chief operating officer now directly owns 123,930 shares of the company’s stock, valued at $3,022,652.70. The disclosure for this sale can be found here. Insiders sold 73,500 shares of company stock valued at $1,759,985 in the last 90 days. 0.76% of the stock is currently owned by insiders.
Evertec (NYSE:EVTC) last released its quarterly earnings data on Tuesday, July 31st. The business services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. Evertec had a net margin of 12.91% and a return on equity of 64.95%. The company had revenue of $113.35 million during the quarter, compared to the consensus estimate of $111.77 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Evertec’s revenue for the quarter was up 9.5% on a year-over-year basis. sell-side analysts anticipate that Evertec Inc will post 1.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Monday, August 6th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $0.20 annualized dividend and a yield of 0.81%. Evertec’s dividend payout ratio is presently 13.61%.
Several research firms have issued reports on EVTC. Morgan Stanley upped their price objective on shares of Evertec from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 1st. Deutsche Bank upped their price objective on shares of Evertec from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, August 1st. Zacks Investment Research downgraded shares of Evertec from a “buy” rating to a “hold” rating in a research note on Monday, June 25th. Raymond James began coverage on shares of Evertec in a research note on Friday, June 15th. They issued a “market perform” rating for the company. Finally, ValuEngine downgraded shares of Evertec from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Evertec currently has a consensus rating of “Hold” and a consensus price target of $21.33.
Evertec Company Profile
EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.
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