Envestnet Asset Management Inc. Sells 33,985 Shares of Evertec, Inc. $EVTC

Envestnet Asset Management Inc. reduced its stake in shares of Evertec, Inc. (NYSE:EVTC) by 10.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 284,937 shares of the business services provider’s stock after selling 33,985 shares during the period. Envestnet Asset Management Inc. owned approximately 0.45% of Evertec worth $9,625,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. raised its holdings in shares of Evertec by 132.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 763 shares of the business services provider’s stock valued at $26,000 after buying an additional 435 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Evertec by 479.1% during the second quarter. Parkside Financial Bank & Trust now owns 1,355 shares of the business services provider’s stock valued at $49,000 after acquiring an additional 1,121 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Evertec by 2,751.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,996 shares of the business services provider’s stock worth $72,000 after acquiring an additional 1,926 shares in the last quarter. Diversified Trust Co bought a new stake in shares of Evertec in the 3rd quarter worth approximately $221,000. Finally, Wealth Alliance LLC boosted its stake in shares of Evertec by 16.8% in the 2nd quarter. Wealth Alliance LLC now owns 6,623 shares of the business services provider’s stock valued at $239,000 after purchasing an additional 951 shares in the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Susquehanna lowered their target price on Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Wall Street Zen lowered Evertec from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Zacks Research downgraded Evertec from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Evertec in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $35.80.

Evertec Price Performance

Shares of NYSE EVTC opened at $26.95 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.91 and a quick ratio of 2.91. Evertec, Inc. has a 1 year low of $25.83 and a 1 year high of $38.56. The company’s 50-day moving average is $28.92 and its 200 day moving average is $31.01. The stock has a market capitalization of $1.72 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.01 and a beta of 0.86.

About Evertec

Evertec, Inc (NYSE: EVTC) is a leading full‐service transaction processor in Puerto Rico, Latin America and the Caribbean. The company delivers integrated technology solutions for electronic payments, providing financial institutions, merchants and governments with secure and scalable platforms to accept, process and settle transactions across card, ATM, debit and digital channels. Headquartered in San Juan, Puerto Rico, Evertec supports both domestic and cross‐border payment flows, enabling clients to streamline operations and expand their digital commerce capabilities.

Evertec’s suite of services includes merchant acquiring, payment gateway connectivity, ATM and point‐of‐sale network management, and fraud prevention solutions.