Martingale Asset Management L P raised its holdings in shares of Evertec Inc (NYSE:EVTC) by 12.4% during the first quarter, Holdings Channel reports. The fund owned 326,789 shares of the business services provider’s stock after buying an additional 36,098 shares during the period. Martingale Asset Management L P’s holdings in Evertec were worth $9,089,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Evertec by 2.7% during the fourth quarter. BlackRock Inc. now owns 8,897,120 shares of the business services provider’s stock valued at $255,347,000 after purchasing an additional 233,554 shares during the period. Vanguard Group Inc. boosted its stake in shares of Evertec by 2.2% during the third quarter. Vanguard Group Inc. now owns 6,048,025 shares of the business services provider’s stock valued at $145,759,000 after purchasing an additional 131,872 shares during the period. Norges Bank purchased a new stake in shares of Evertec during the fourth quarter valued at approximately $40,039,000. Dimensional Fund Advisors LP boosted its stake in shares of Evertec by 23.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,362,650 shares of the business services provider’s stock valued at $39,108,000 after purchasing an additional 257,572 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Evertec by 6.2% during the fourth quarter. Bank of New York Mellon Corp now owns 840,733 shares of the business services provider’s stock valued at $24,129,000 after purchasing an additional 48,781 shares during the period. Institutional investors and hedge funds own 77.25% of the company’s stock.
In related news, CEO Morgan M. Schuessler sold 152,221 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $27.01, for a total value of $4,111,489.21. Following the completion of the sale, the chief executive officer now owns 539,102 shares of the company’s stock, valued at $14,561,145.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Philip E. Steurer sold 27,940 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $29.41, for a total value of $821,715.40. Following the completion of the sale, the chief operating officer now directly owns 89,334 shares of the company’s stock, valued at approximately $2,627,312.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,661 shares of company stock valued at $5,056,655. Insiders own 0.63% of the company’s stock.
Separately, Zacks Investment Research raised Evertec from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Evertec currently has an average rating of “Buy” and an average price target of $29.60.
NYSE:EVTC opened at $27.91 on Friday. The company has a market cap of $2.06 billion, a PE ratio of 16.42 and a beta of 0.71. Evertec Inc has a fifty-two week low of $21.20 and a fifty-two week high of $31.63. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 2.41.
Evertec (NYSE:EVTC) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $118.84 million during the quarter, compared to analyst estimates of $116.82 million. Evertec had a return on equity of 61.11% and a net margin of 19.44%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Sell-side analysts anticipate that Evertec Inc will post 1.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, May 3rd. Evertec’s dividend payout ratio (DPR) is presently 11.76%.
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EVERTEC, Inc engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates in four segments: Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; and Business Solutions.
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