nVerses Capital LLC Boosts Holdings in EVERTEC, Inc. (NYSE:EVTC)

nVerses Capital LLC lifted its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 12.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,600 shares of the business services provider’s stock after buying an additional 400 shares during the quarter. nVerses Capital LLC’s holdings in EVERTEC were worth $122,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bleakley Financial Group LLC grew its holdings in EVERTEC by 1.5% in the first quarter. Bleakley Financial Group LLC now owns 20,589 shares of the business services provider’s stock valued at $822,000 after purchasing an additional 302 shares during the period. Bank of Montreal Can grew its holdings in EVERTEC by 1.1% in the second quarter. Bank of Montreal Can now owns 35,084 shares of the business services provider’s stock valued at $1,191,000 after purchasing an additional 381 shares during the period. Louisiana State Employees Retirement System lifted its position in EVERTEC by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider’s stock valued at $1,077,000 after buying an additional 400 shares in the last quarter. Arizona State Retirement System lifted its position in EVERTEC by 3.2% during the second quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider’s stock valued at $609,000 after buying an additional 561 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in EVERTEC by 2.2% during the second quarter. Blair William & Co. IL now owns 31,918 shares of the business services provider’s stock valued at $1,061,000 after buying an additional 679 shares in the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Susquehanna cut 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. Keefe, Bruyette & Woods reduced their target price on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Two equities 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. Based on data from MarketBeat.com, EVERTEC currently has an average rating of “Hold” and an average target price of $34.33.

EVERTEC Trading Down 0.5 %

EVTC opened at $33.28 on Monday. The stock has a market capitalization of $2.14 billion, a PE ratio of 33.62, a P/E/G ratio of 1.64 and a beta of 1.15. The firm’s fifty day moving average price is $33.31 and its 200 day moving average price is $34.49. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.82 and a quick ratio of 1.82. EVERTEC, Inc. has a 12-month low of $28.76 and a 12-month high of $42.21.

EVERTEC (NYSE:EVTC) last posted its quarterly 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. The firm had revenue of $211.98 million for 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%. As a group, research analysts expect that EVERTEC, Inc. will post 2.53 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, October 28th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.20 annualized dividend and a yield of 0.60%. EVERTEC’s dividend payout ratio is presently 20.20%.

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 on Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the sale, the executive vice president now owns 129,928 shares in the company, valued at $4,431,844.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the sale, the executive vice president now owns 129,928 shares in the company, valued at $4,431,844.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were 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 owns 39,370 shares of the company’s stock, valued at approximately $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 insiders.

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.