State of New Jersey Common Pension Fund D Has $1.83 Million Stock Position in Evertec, Inc. $EVTC

State of New Jersey Common Pension Fund D lowered its stake in Evertec, Inc. (NYSE:EVTC) by 13.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,808 shares of the business services provider’s stock after selling 7,814 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.08% of Evertec worth $1,832,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in EVTC. Principal Financial Group Inc. raised its stake in Evertec by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 317,649 shares of the business services provider’s stock worth $11,680,000 after buying an additional 7,125 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Evertec by 55.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,180 shares of the business services provider’s stock worth $414,000 after buying an additional 3,980 shares during the period. Hsbc Holdings PLC raised its stake in Evertec by 35.5% during the 1st quarter. Hsbc Holdings PLC now owns 12,707 shares of the business services provider’s stock worth $465,000 after buying an additional 3,330 shares during the period. Cetera Investment Advisers raised its stake in Evertec by 8.2% during the 1st quarter. Cetera Investment Advisers now owns 11,523 shares of the business services provider’s stock worth $424,000 after buying an additional 878 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Evertec by 0.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 332,121 shares of the business services provider’s stock worth $12,212,000 after buying an additional 2,439 shares during the period. Institutional investors and hedge funds own 96.80% of the company’s stock.

Evertec Price Performance

NYSE:EVTC opened at $28.43 on Friday. Evertec, Inc. has a 52-week low of $27.80 and a 52-week high of $38.56. The company has a market cap of $1.82 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.43 and a beta of 0.93. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.20 and a current ratio of 2.20. The stock’s 50-day simple moving average is $32.80 and its 200 day simple moving average is $34.55.

Evertec (NYSE:EVTC) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.86 by $0.03. The firm had revenue of $229.61 million during the quarter, compared to analysts’ expectations of $222.23 million. Evertec had a return on equity of 36.67% and a net margin of 15.56%.The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. As a group, sell-side analysts forecast that Evertec, Inc. will post 2.63 EPS for the current fiscal year.

Evertec Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 3rd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, November 3rd. Evertec’s dividend payout ratio is presently 9.43%.

Analyst Upgrades and Downgrades

Several analysts recently commented on EVTC shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Evertec in a research note on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and set a $43.00 price objective (up previously from $42.00) on shares of Evertec in a research note on Thursday, July 31st. Zacks Research downgraded Evertec from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Morgan Stanley dropped their price objective on Evertec from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Evertec in a research note on Thursday, July 17th. They set a “hold” rating and a $35.00 price objective on the stock. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.00.

Evertec Company 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.