Prudential Financial Inc. lifted its holdings in shares of Evertec Inc (NYSE:EVTC) by 16.4% in the fourth quarter, HoldingsChannel reports. The firm owned 128,757 shares of the business services provider’s stock after acquiring an additional 18,107 shares during the period. Prudential Financial Inc.’s holdings in Evertec were worth $3,695,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. grew its stake in Evertec by 2.3% in the 3rd quarter. BlackRock Inc. now owns 8,663,566 shares of the business services provider’s stock worth $208,792,000 after acquiring an additional 197,923 shares during the period. FMR LLC grew its stake in Evertec by 2.1% in the 3rd quarter. FMR LLC now owns 6,869,252 shares of the business services provider’s stock worth $165,549,000 after acquiring an additional 141,921 shares during the period. Vanguard Group Inc. grew its stake in Evertec by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,048,025 shares of the business services provider’s stock worth $145,759,000 after acquiring an additional 131,872 shares during the period. Vanguard Group Inc grew its stake in Evertec by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 6,048,025 shares of the business services provider’s stock worth $145,759,000 after acquiring an additional 131,872 shares during the period. Finally, Man Group plc grew its stake in Evertec by 92.3% in the 3rd quarter. Man Group plc now owns 1,604,324 shares of the business services provider’s stock worth $38,665,000 after acquiring an additional 770,031 shares during the period. 78.88% of the stock is owned by institutional investors and hedge funds.
In related news, insider Diana I. Rivera-Ramirez sold 1,500 shares of Evertec stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $28.10, for a total transaction of $42,150.00. Following the transaction, the insider now owns 24,137 shares in the company, valued at approximately $678,249.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank G. D’angelo sold 10,000 shares of Evertec stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $28.20, for a total transaction of $282,000.00. Following the transaction, the director now owns 34,798 shares in the company, valued at approximately $981,303.60. The disclosure for this sale can be found here. Insiders have sold a total of 194,621 shares of company stock worth $5,252,105 in the last 90 days. Company insiders own 0.76% of the company’s stock.
Evertec (NYSE:EVTC) last posted its earnings results on Wednesday, February 20th. The business services provider reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The business had revenue of $118.20 million for the quarter, compared to analyst estimates of $114.72 million. Evertec had a net margin of 19.01% and a return on equity of 64.03%. The business’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 EPS. Sell-side analysts forecast that Evertec Inc will post 1.71 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Tuesday, February 26th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, February 25th. This represents a $0.20 annualized dividend and a dividend yield of 0.70%. Evertec’s payout ratio is 11.76%.
Several research firms have commented on EVTC. Zacks Investment Research cut shares of Evertec from a “buy” rating to a “hold” rating in a research note on Tuesday, January 1st. Keefe, Bruyette & Woods began coverage on shares of Evertec in a research note on Thursday, December 6th. They issued an “outperform” rating and a $32.00 target price for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Evertec presently has an average rating of “Buy” and a consensus target price of $29.00.
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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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