Citadel Advisors LLC Cuts Stake in Evertec Inc (EVTC)

Citadel Advisors LLC trimmed its position in Evertec Inc (NYSE:EVTC) by 79.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,894 shares of the business services provider’s stock after selling 71,155 shares during the period. Citadel Advisors LLC’s holdings in Evertec were worth $299,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of EVTC. Thrivent Financial For Lutherans increased its position in shares of Evertec by 1,152.5% in the second quarter. Thrivent Financial For Lutherans now owns 867,111 shares of the business services provider’s stock valued at $15,001,000 after acquiring an additional 797,881 shares during the last quarter. Boston Partners increased its position in shares of Evertec by 79.7% in the third quarter. Boston Partners now owns 1,634,218 shares of the business services provider’s stock valued at $25,902,000 after acquiring an additional 725,051 shares during the last quarter. Capital Research Global Investors increased its position in shares of Evertec by 32.2% in the second quarter. Capital Research Global Investors now owns 2,438,000 shares of the business services provider’s stock valued at $42,177,000 after acquiring an additional 594,000 shares during the last quarter. River Road Asset Management LLC increased its position in shares of Evertec by 318.1% in the third quarter. River Road Asset Management LLC now owns 699,470 shares of the business services provider’s stock valued at $11,087,000 after acquiring an additional 532,172 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware acquired a new stake in shares of Evertec in the second quarter valued at about $5,037,000. Institutional investors own 79.36% of the company’s stock.

A number of analysts recently issued reports on EVTC shares. Zacks Investment Research raised Evertec from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Tuesday, October 3rd. ValuEngine raised Evertec from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Stifel Nicolaus raised Evertec from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Thursday, September 28th. Deutsche Bank lowered their target price on Evertec from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, November 8th. Finally, TheStreet downgraded Evertec from a “b-” rating to a “c+” rating in a research report on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $17.83.

Shares of Evertec Inc (NYSE:EVTC) remained flat at $$13.00 during midday trading on Friday. The company had a trading volume of 690,700 shares, compared to its average volume of 467,367. The stock has a market cap of $941.07, a price-to-earnings ratio of 7.88, a P/E/G ratio of 1.79 and a beta of 1.14. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.00 and a quick ratio of 1.00. Evertec Inc has a fifty-two week low of $12.60 and a fifty-two week high of $19.52.

Evertec (NYSE:EVTC) last announced its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). The business had revenue of $102.70 million for the quarter, compared to analyst estimates of $97.11 million. Evertec had a return on equity of 95.54% and a net margin of 15.92%. Evertec’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. equities analysts anticipate that Evertec Inc will post 1.46 earnings per share for the current fiscal year.

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About Evertec

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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Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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