Oppenheimer Asset Management Inc. Buys 860 Shares of EVERTEC, Inc. (NYSE:EVTC)

Oppenheimer Asset Management Inc. lifted its stake in EVERTEC, Inc. (NYSE:EVTC) by 9.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 10,042 shares of the business services provider’s stock after purchasing an additional 860 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in EVERTEC were worth $334,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in EVTC. Nordea Investment Management AB raised its holdings in EVERTEC by 29.2% in the first quarter. Nordea Investment Management AB now owns 217,123 shares of the business services provider’s stock worth $8,770,000 after purchasing an additional 49,115 shares in the last quarter. Norges Bank purchased a new stake in EVERTEC during the fourth quarter valued at approximately $19,626,000. Aptus Capital Advisors LLC boosted its position in shares of EVERTEC by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 88,055 shares of the business services provider’s stock worth $2,928,000 after purchasing an additional 17,475 shares in the last quarter. Invenomic Capital Management LP purchased a new position in EVERTEC during the 1st quarter worth $2,407,000. Finally, ProShare Advisors LLC increased its position in EVERTEC by 7.2% during the 1st quarter. ProShare Advisors LLC now owns 13,163 shares of the business services provider’s stock valued at $525,000 after buying an additional 882 shares in the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

EVERTEC Trading Down 2.7 %

EVERTEC stock opened at $33.02 on Friday. The stock has a 50-day moving average price of $33.52 and a 200 day moving average price of $35.17. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 33.35, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. EVERTEC, Inc. has a 52 week low of $28.76 and a 52 week high of $42.21. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.92.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.54 by $0.19. The business had revenue of $211.98 million during the quarter, compared to analysts’ expectations of $209.40 million. EVERTEC had a net margin of 8.84% and a return on equity of 32.08%. Sell-side analysts anticipate that EVERTEC, Inc. will post 2.53 EPS for the current year.

EVERTEC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, July 29th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Monday, July 29th. EVERTEC’s dividend payout ratio is currently 20.20%.

Analysts Set New Price Targets

Several brokerages have weighed in on EVTC. Keefe, Bruyette & Woods lowered their price target on EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Susquehanna downgraded shares of EVERTEC from a “neutral” rating to a “negative” rating and dropped their target price for the stock from $38.00 to $28.00 in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.33.

Insider Buying and Selling at EVERTEC

In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total value of $1,364,400.00. Following the completion of the transaction, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at $4,431,844.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $35.10, for a total transaction of $1,263,600.00. Following the sale, the executive vice president now directly owns 39,370 shares in the company, valued at approximately $1,381,887. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $34.11, for a total value of $1,364,400.00. Following the completion of the transaction, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at approximately $4,431,844.08. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.

EVERTEC Profile

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.