Handelsbanken Fonder AB Has $437,000 Holdings in EVERTEC, Inc. (NYSE:EVTC)

Handelsbanken Fonder AB boosted its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 15.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,900 shares of the business services provider’s stock after buying an additional 1,700 shares during the period. Handelsbanken Fonder AB’s holdings in EVERTEC were worth $437,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in EVERTEC by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 7,453,242 shares of the business services provider’s stock valued at $305,136,000 after purchasing an additional 68,871 shares during the last quarter. American Century Companies Inc. lifted its holdings in EVERTEC by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock worth $145,318,000 after buying an additional 208,183 shares during the period. Capital International Investors grew its position in shares of EVERTEC by 0.3% in the 1st quarter. Capital International Investors now owns 3,141,051 shares of the business services provider’s stock valued at $125,328,000 after buying an additional 9,110 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of EVERTEC by 9.0% in the second quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider’s stock valued at $76,421,000 after buying an additional 189,637 shares during the period. Finally, North Star Asset Management Inc. raised its position in shares of EVERTEC by 0.7% during the second quarter. North Star Asset Management Inc. now owns 740,234 shares of the business services provider’s stock worth $24,613,000 after acquiring an additional 5,475 shares during the last quarter. 96.80% of the stock is owned by institutional investors.

EVERTEC Stock Performance

NYSE:EVTC opened at $33.35 on Tuesday. The firm has a market capitalization of $2.15 billion, a P/E ratio of 33.68, a P/E/G ratio of 1.64 and a beta of 1.15. EVERTEC, Inc. has a twelve month low of $28.76 and a twelve month high of $42.21. The company has a fifty day moving average of $33.24 and a 200-day moving average of $34.65. 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 earnings results on Wednesday, July 31st. The business services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.19. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. The company had revenue of $211.98 million for the quarter, compared to analysts’ expectations of $209.40 million. As a group, sell-side analysts anticipate that EVERTEC, Inc. will post 2.53 EPS for the current year.

EVERTEC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Monday, July 29th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Monday, July 29th. EVERTEC’s dividend payout ratio (DPR) is presently 20.20%.

Insider Activity at EVERTEC

In other news, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’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 owns 129,928 shares in the company, valued at $4,431,844.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of EVERTEC stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $35.10, for a total value of $1,263,600.00. Following the transaction, the executive vice president now directly owns 39,370 shares of the company’s stock, valued at $1,381,887. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EVTC. Susquehanna downgraded shares of EVERTEC from a “neutral” rating to a “negative” rating and decreased their target price for the company from $38.00 to $28.00 in a research report on Thursday, September 5th. Keefe, Bruyette & Woods decreased their price objective on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, EVERTEC has a consensus rating of “Hold” and an average price target of $34.33.

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.