AXA grew its holdings in Evertec Inc (NYSE:EVTC) by 48.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 354,600 shares of the business services provider’s stock after acquiring an additional 115,100 shares during the quarter. AXA owned 0.49% of Evertec worth $4,840,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of EVTC. Continental Advisors LLC bought a new position in Evertec in the fourth quarter worth $4,878,000. Rivulet Capital LLC lifted its position in Evertec by 21.8% in the fourth quarter. Rivulet Capital LLC now owns 4,507,305 shares of the business services provider’s stock worth $61,525,000 after purchasing an additional 807,000 shares during the period. Allianz Asset Management GmbH bought a new position in Evertec in the fourth quarter worth $416,000. Mackenzie Financial Corp bought a new position in Evertec in the fourth quarter worth $563,000. Finally, Brandes Investment Partners LP bought a new position in Evertec in the fourth quarter worth $3,043,000. 82.84% of the stock is owned by institutional investors.
EVTC has been the subject of several research reports. JPMorgan Chase cut Evertec from a “neutral” rating to an “underweight” rating in a research report on Tuesday, December 12th. Zacks Investment Research raised Evertec from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Goldman Sachs cut Evertec from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $15.00 to $12.00 in a research report on Wednesday, January 17th. Morgan Stanley reissued an “equal weight” rating and set a $18.00 price objective (up from $17.00) on shares of Evertec in a report on Thursday, February 22nd. Finally, Cowen reissued a “market perform” rating and set a $18.00 price objective (up from $14.00) on shares of Evertec in a report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $17.00.
Shares of NYSE EVTC remained flat at $$16.55 during midday trading on Friday. The company’s stock had a trading volume of 565,605 shares, compared to its average volume of 704,834. The company has a market capitalization of $1,198.70, a PE ratio of 11.26, a PEG ratio of 2.63 and a beta of 1.10. Evertec Inc has a 12 month low of $12.60 and a 12 month high of $19.52. The company has a debt-to-equity ratio of 3.77, a quick ratio of 1.15 and a current ratio of 1.15.
Evertec (NYSE:EVTC) last issued its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. The company had revenue of $99.63 million during the quarter, compared to analysts’ expectations of $89.98 million. Evertec had a return on equity of 78.61% and a net margin of 13.52%. The business’s revenue was down 2.2% on a year-over-year basis. During the same period last year, the business earned $0.43 earnings per share. equities analysts forecast that Evertec Inc will post 1.26 EPS for the current year.
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Evertec Company Profile
EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.
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