Evertec Inc (NYSE:EVTC) was the recipient of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,575,046 shares, a decline of 51.3% from the February 15th total of 3,231,399 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 1,418,131 shares, the short-interest ratio is currently 1.1 days.
Hedge funds have recently made changes to their positions in the business. Highbridge Capital Management LLC acquired a new position in Evertec during the 3rd quarter worth $416,000. Hillsdale Investment Management Inc. acquired a new position in Evertec during the 3rd quarter worth $961,000. State Street Corp grew its holdings in Evertec by 6.2% during the 2nd quarter. State Street Corp now owns 1,265,945 shares of the business services provider’s stock worth $21,905,000 after acquiring an additional 74,230 shares in the last quarter. Trexquant Investment LP acquired a new position in Evertec during the 3rd quarter worth $783,000. Finally, OxFORD Asset Management LLP grew its holdings in Evertec by 117.8% during the 3rd quarter. OxFORD Asset Management LLP now owns 45,301 shares of the business services provider’s stock worth $716,000 after acquiring an additional 24,505 shares in the last quarter. 82.84% of the stock is owned by institutional investors.
Evertec stock opened at $16.95 on Monday. The firm has a market cap of $1,227.67, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 2.69 and a beta of 1.14. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 3.77. Evertec 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 data on Wednesday, February 21st. The business services provider reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The company had revenue of $99.63 million during the quarter, compared to analyst estimates of $89.98 million. Evertec had a net margin of 13.52% and a return on equity of 78.61%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.43 EPS. sell-side analysts predict that Evertec will post 1.26 earnings per share for the current year.
Several equities research analysts recently issued reports on EVTC shares. Zacks Investment Research downgraded shares of Evertec from a “hold” rating to a “strong sell” rating in a research note on Monday, January 8th. JPMorgan Chase & Co. downgraded shares of Evertec from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 12th. Goldman Sachs downgraded shares of Evertec from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $15.00 to $12.00 in a research note on Wednesday, January 17th. Morgan Stanley reaffirmed an “equal weight” rating and set a $18.00 price target (up previously from $17.00) on shares of Evertec in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price target on shares of Evertec in a research note on Friday, February 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Evertec has a consensus rating of “Hold” and a consensus price target of $17.00.
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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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