Morgan Stanley increased its position in shares of Evertec, Inc. (NYSE:EVTC) by 4.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 692,634 shares of the business services provider’s stock after buying an additional 32,348 shares during the period. Morgan Stanley owned approximately 0.95% of Evertec worth $11,012,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EVTC. Denver Investment Advisors LLC boosted its stake in shares of Evertec by 609.7% in the first quarter. Denver Investment Advisors LLC now owns 719,211 shares of the business services provider’s stock worth $11,435,000 after buying an additional 617,864 shares during the period. Sei Investments Co. boosted its stake in shares of Evertec by 9.5% in the first quarter. Sei Investments Co. now owns 95,868 shares of the business services provider’s stock worth $1,524,000 after buying an additional 8,311 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Evertec by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 340,359 shares of the business services provider’s stock worth $5,412,000 after buying an additional 11,217 shares during the period. American Century Companies Inc. boosted its stake in shares of Evertec by 11.3% in the first quarter. American Century Companies Inc. now owns 2,106,481 shares of the business services provider’s stock worth $33,493,000 after buying an additional 213,337 shares during the period. Finally, Algert Global LLC boosted its stake in shares of Evertec by 103.9% in the first quarter. Algert Global LLC now owns 54,314 shares of the business services provider’s stock worth $864,000 after buying an additional 27,674 shares during the period. Institutional investors and hedge funds own 80.58% of the company’s stock.

Evertec, Inc. (NYSE EVTC) traded up 0.27% during midday trading on Friday, hitting $18.50. 166,829 shares of the company were exchanged. The firm has a market capitalization of $1.34 billion, a PE ratio of 17.31 and a beta of 1.25. The stock has a 50 day moving average of $17.84 and a 200 day moving average of $16.83. Evertec, Inc. has a 1-year low of $14.15 and a 1-year high of $19.52.

Evertec (NYSE:EVTC) last issued its earnings results on Tuesday, August 1st. The business services provider reported $0.44 earnings per share 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 107.21%. The firm had revenue of $103.51 million during the quarter, compared to analyst estimates of $100.21 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. Evertec’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts predict that Evertec, Inc. will post $1.70 earnings per share for the current fiscal year.

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.16%. Evertec’s dividend payout ratio is 37.74%.

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A number of brokerages have commented on EVTC. BidaskClub raised shares of Evertec from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of Evertec from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Thursday, August 3rd. Finally, ValuEngine lowered shares of Evertec from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Evertec presently has a consensus rating of “Hold” and an average price target of $19.00.

Evertec Company Profile

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.

Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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