Interval Partners LP Trims Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Interval Partners LP cut its stake in shares of EVERTEC, Inc. (NYSE:EVTCGet Rating) by 32.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,747 shares of the business services provider’s stock after selling 21,756 shares during the period. Interval Partners LP owned approximately 0.06% of EVERTEC worth $1,831,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in EVERTEC by 0.9% during the 1st quarter. BlackRock Inc. now owns 9,289,037 shares of the business services provider’s stock valued at $380,201,000 after acquiring an additional 85,465 shares during the last quarter. Vanguard Group Inc. raised its stake in EVERTEC by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 7,558,601 shares of the business services provider’s stock valued at $309,373,000 after acquiring an additional 58,160 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in EVERTEC by 13.6% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,571,412 shares of the business services provider’s stock valued at $228,479,000 after acquiring an additional 546,882 shares during the last quarter. American Century Companies Inc. raised its stake in EVERTEC by 6.4% during the 1st quarter. American Century Companies Inc. now owns 3,582,147 shares of the business services provider’s stock valued at $146,617,000 after acquiring an additional 216,824 shares during the last quarter. Finally, Capital International Investors raised its stake in EVERTEC by 8.7% during the 4th quarter. Capital International Investors now owns 3,464,441 shares of the business services provider’s stock valued at $173,201,000 after acquiring an additional 277,034 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on EVTC. Keefe, Bruyette & Woods dropped their target price on EVERTEC from $50.00 to $47.00 in a research report on Monday, July 11th. Morgan Stanley dropped their target price on EVERTEC from $34.00 to $31.00 and set an “underweight” rating on the stock in a research report on Monday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $42.20.

EVERTEC Stock Performance

NYSE EVTC opened at $34.62 on Friday. The company has a current ratio of 2.94, a quick ratio of 2.95 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average is $35.85 and its two-hundred day moving average is $37.75. EVERTEC, Inc. has a 12-month low of $32.57 and a 12-month high of $51.06. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 16.97 and a beta of 0.95.

EVERTEC (NYSE:EVTCGet Rating) last released its quarterly earnings results on Thursday, August 4th. The business services provider reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). The firm had revenue of $160.60 million during the quarter, compared to analyst estimates of $150.22 million. EVERTEC had a return on equity of 38.20% and a net margin of 24.33%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 EPS. Research analysts expect that EVERTEC, Inc. will post 2.34 EPS for the current year.

EVERTEC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Monday, August 8th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, August 5th. EVERTEC’s dividend payout ratio is currently 9.80%.

EVERTEC Company Profile

(Get Rating)

EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; Business Solutions, and Corporate and Other segments. 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.

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Institutional Ownership by Quarter for EVERTEC (NYSE:EVTC)

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