Alps Advisors Inc. acquired a new position in Evertec Inc (NYSE:EVTC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,697 shares of the business services provider’s stock, valued at approximately $391,000.
Several other hedge funds also recently modified their holdings of EVTC. IFP Advisors Inc purchased a new position in shares of Evertec in the 2nd quarter valued at $108,000. BNP Paribas Arbitrage SA grew its position in shares of Evertec by 497.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,062 shares of the business services provider’s stock valued at $122,000 after buying an additional 5,880 shares during the last quarter. Koch Industries Inc. grew its position in Evertec by 1,753.1% during the 2nd quarter. Koch Industries Inc. now owns 196,889 shares of the business services provider’s stock worth $186,000 after purchasing an additional 186,264 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Evertec during the 3rd quarter worth $189,000. Finally, Campbell & CO Investment Adviser LLC grew its position in Evertec by 31.0% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 14,085 shares of the business services provider’s stock worth $244,000 after purchasing an additional 3,332 shares during the last quarter. Hedge funds and other institutional investors own 79.36% of the company’s stock.
Several brokerages have recently weighed in on EVTC. ValuEngine downgraded shares of Evertec from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. BidaskClub cut shares of Evertec from a “hold” rating to a “sell” rating in a research note on Thursday, September 28th. Stifel Nicolaus reduced their price objective on shares of Evertec from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th. Zacks Investment Research cut shares of Evertec from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Finally, Cowen restated a “hold” rating and set a $20.00 target price on shares of Evertec in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $17.83.
Evertec Inc (EVTC) traded up $0.15 on Thursday, reaching $13.55. 638,160 shares of the company’s stock traded hands, compared to its average volume of 463,437. Evertec Inc has a 12 month low of $12.60 and a 12 month high of $19.52. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 4.08. The stock has a market capitalization of $984.51, a P/E ratio of 8.24, a P/E/G ratio of 1.87 and a beta of 1.14.
Evertec (NYSE:EVTC) last posted its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.08). The company had revenue of $102.70 million during the quarter, compared to analyst estimates of $97.11 million. Evertec had a net margin of 15.92% and a return on equity of 95.54%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 earnings per share. equities research analysts anticipate that Evertec Inc will post 1.46 EPS for the current year.
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EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.
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