Sei Investments Co. lifted its position in Evertec Inc (NYSE:EVTC) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,496 shares of the business services provider’s stock after acquiring an additional 7,066 shares during the quarter. Sei Investments Co. owned approximately 0.14% of Evertec worth $2,218,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Summit Trail Advisors LLC lifted its position in Evertec by 11,437.9% in the 1st quarter. Summit Trail Advisors LLC now owns 154,838 shares of the business services provider’s stock worth $155,000 after buying an additional 153,496 shares in the last quarter. Profund Advisors LLC purchased a new stake in Evertec in the 1st quarter worth approximately $181,000. Amalgamated Bank purchased a new stake in Evertec in the 2nd quarter worth approximately $213,000. Bayesian Capital Management LP purchased a new stake in Evertec in the 1st quarter worth approximately $221,000. Finally, OppenheimerFunds Inc. purchased a new stake in Evertec in the 1st quarter worth approximately $240,000. Institutional investors and hedge funds own 79.12% of the company’s stock.
In other news, EVP Guillermo Rospigliosi bought 2,870 shares of the stock in a transaction that occurred on Saturday, August 11th. The shares were acquired at an average cost of $17.41 per share, for a total transaction of $49,966.70. Following the purchase, the executive vice president now owns 51,687 shares of the company’s stock, valued at approximately $899,870.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Philip E. Steurer sold 10,000 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer now owns 123,930 shares in the company, valued at $3,022,652.70. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.
Evertec stock opened at $23.95 on Wednesday. The firm has a market cap of $1.75 billion, a PE ratio of 16.47 and a beta of 1.23. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 2.77. Evertec Inc has a 1-year low of $12.60 and a 1-year high of $25.55.
Evertec (NYSE:EVTC) last released its quarterly earnings results on Tuesday, July 31st. The business services provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $113.35 million for the quarter, compared to the consensus estimate of $111.77 million. Evertec had a net margin of 12.91% and a return on equity of 64.95%. Evertec’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. research analysts expect that Evertec Inc will post 1.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Monday, August 6th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, August 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.84%. Evertec’s dividend payout ratio is currently 13.61%.
A number of research firms have issued reports on EVTC. TheStreet upgraded shares of Evertec from a “c+” rating to a “b” rating in a research report on Thursday, May 10th. Morgan Stanley increased their target price on shares of Evertec from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 1st. Deutsche Bank increased their target price on shares of Evertec from $20.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Zacks Investment Research downgraded shares of Evertec from a “buy” rating to a “hold” rating in a research report on Monday, June 25th. Finally, Raymond James began coverage on shares of Evertec in a research report on Friday, June 15th. They issued a “market perform” rating for the company. 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. Evertec has a consensus rating of “Hold” and a consensus target price 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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