Intech Investment Management LLC Buys Shares of 18,210 EVERTEC, Inc. (NYSE:EVTC)

Intech Investment Management LLC acquired a new stake in EVERTEC, Inc. (NYSE:EVTC) during the third quarter, HoldingsChannel reports. The fund acquired 18,210 shares of the business services provider’s stock, valued at approximately $617,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EVTC. Edgestream Partners L.P. purchased a new stake in EVERTEC in the 2nd quarter valued at approximately $8,143,000. American Century Companies Inc. lifted its holdings in shares of EVERTEC by 5.0% in the 2nd quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock valued at $145,318,000 after buying an additional 208,183 shares during the period. Victory Capital Management Inc. boosted 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 in the last quarter. F M Investments LLC acquired a new position in EVERTEC during the second quarter worth $5,672,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in EVERTEC in the second quarter worth $2,762,000. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Morgan Stanley upgraded shares of EVERTEC from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $33.00 to $35.00 in a research note on Thursday, November 21st. Susquehanna downgraded shares of EVERTEC from a “neutral” rating to a “negative” rating and reduced their price target for the company from $38.00 to $28.00 in a research report on Thursday, September 5th.

EVERTEC Stock Performance

NYSE:EVTC opened at $36.00 on Friday. The company has a market cap of $2.29 billion, a P/E ratio of 28.13, a P/E/G ratio of 1.63 and a beta of 1.15. The firm’s 50 day moving average is $33.99 and its two-hundred day moving average is $33.80. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $42.21. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84.

EVERTEC (NYSE:EVTC) last released its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The company had revenue of $211.80 million for the quarter, compared to the consensus estimate of $211.51 million. During the same period last year, the business posted $0.72 EPS. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. Analysts expect that EVERTEC, Inc. will post 2.55 EPS for the current year.

EVERTEC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, October 28th will be given a $0.05 dividend. The ex-dividend date is Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. EVERTEC’s payout ratio is currently 15.63%.

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.