Russell Investments Group Ltd. Purchases Shares of 23,549 Evertec, Inc. (NYSE:EVTC)
Russell Investments Group Ltd. purchased a new stake in shares of Evertec, Inc. (NYSE:EVTC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 23,549 shares of the business services provider’s stock, valued at approximately $374,000.
A number of other hedge funds also recently made changes to their positions in EVTC. Teachers Advisors LLC raised its position in Evertec by 525.8% in the fourth quarter. Teachers Advisors LLC now owns 948,851 shares of the business services provider’s stock worth $16,842,000 after buying an additional 797,226 shares in the last quarter. State Street Corp raised its position in Evertec by 7.3% in the fourth quarter. State Street Corp now owns 1,184,571 shares of the business services provider’s stock worth $21,025,000 after buying an additional 80,721 shares in the last quarter. Norges Bank acquired a new position in Evertec during the fourth quarter worth approximately $14,617,000. AQR Capital Management LLC raised its position in Evertec by 48.1% in the fourth quarter. AQR Capital Management LLC now owns 266,208 shares of the business services provider’s stock worth $4,725,000 after buying an additional 86,493 shares in the last quarter. Finally, Tudor Investment Corp Et Al raised its position in Evertec by 39.5% in the fourth quarter. Tudor Investment Corp Et Al now owns 21,795 shares of the business services provider’s stock worth $387,000 after buying an additional 6,173 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors and hedge funds.
Evertec, Inc. (EVTC) traded down 0.687% during midday trading on Friday, reaching $18.075. The company had a trading volume of 223,364 shares. Evertec, Inc. has a 12-month low of $14.15 and a 12-month high of $19.53. The stock has a 50-day moving average price of $17.23 and a 200 day moving average price of $16.73. The company has a market capitalization of $1.31 billion, a PE ratio of 16.908 and a beta of 1.25.
Evertec (NYSE:EVTC) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.02. Evertec had a net margin of 19.64% and a return on equity of 112.18%. The company had revenue of $103.51 million during the quarter, compared to the consensus estimate of $100.21 million. During the same period in the prior year, the firm earned $0.43 earnings per share. Evertec’s revenue was up 6.0% on a year-over-year basis. Equities analysts forecast that Evertec, Inc. will post $1.70 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Monday, August 7th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, August 3rd. Evertec’s dividend payout ratio (DPR) is currently 37.74%.
EVTC has been the subject of a number of recent research reports. Zacks Investment Research upgraded Evertec from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Thursday. BidaskClub upgraded Evertec from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, ValuEngine downgraded Evertec from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $19.00.
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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