Man Group plc grew its stake in Evertec Inc (NYSE:EVTC) by 21.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,188,847 shares of the business services provider’s stock after acquiring an additional 208,276 shares during the quarter. Man Group plc owned about 1.65% of Evertec worth $40,469,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners lifted its stake in shares of Evertec by 125.0% during the 4th quarter. Boston Partners now owns 1,597,223 shares of the business services provider’s stock worth $54,372,000 after purchasing an additional 887,449 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Evertec by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 612,060 shares of the business services provider’s stock valued at $20,835,000 after purchasing an additional 6,526 shares during the last quarter. Artemis Investment Management LLP boosted its position in shares of Evertec by 13.8% in the 4th quarter. Artemis Investment Management LLP now owns 513,825 shares of the business services provider’s stock worth $17,070,000 after purchasing an additional 62,159 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Evertec by 694.8% in the 3rd quarter. Voya Investment Management LLC now owns 468,230 shares of the business services provider’s stock worth $14,618,000 after purchasing an additional 409,316 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Evertec by 44.1% in the 4th quarter. Bank of America Corp DE now owns 444,758 shares of the business services provider’s stock worth $15,140,000 after purchasing an additional 136,170 shares in the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research lowered Evertec from a “hold” rating to a “strong sell” rating in a research report on Friday, February 28th.
EVTC opened at $22.26 on Thursday. The company has a market cap of $1.57 billion, a P/E ratio of 15.79 and a beta of 0.80. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.97. The firm’s 50-day moving average price is $29.42 and its 200-day moving average price is $31.73. Evertec Inc has a 52-week low of $18.21 and a 52-week high of $37.38.
Evertec (NYSE:EVTC) last released its earnings results on Tuesday, February 25th. The business services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. The company had revenue of $127.19 million for the quarter, compared to the consensus estimate of $121.69 million. Evertec had a net margin of 21.23% and a return on equity of 54.99%. Evertec’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. On average, research analysts anticipate that Evertec Inc will post 1.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Wednesday, March 4th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Tuesday, March 3rd. Evertec’s payout ratio is 11.05%.
EVERTEC, Inc engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates in four segments: Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; and Business Solutions.
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