Evertec, Inc. (EVTC) Position Trimmed by Renaissance Technologies LLC
Renaissance Technologies LLC decreased its holdings in Evertec, Inc. (NYSE:EVTC) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,763,400 shares of the business services provider’s stock after selling 144,300 shares during the quarter. Renaissance Technologies LLC owned approximately 3.82% of Evertec worth $47,807,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of EVTC. Russell Investments Group Ltd. bought a new stake in Evertec during the 1st quarter worth about $374,000. First Trust Advisors LP increased its position in Evertec by 8.2% in the 1st quarter. First Trust Advisors LP now owns 36,591 shares of the business services provider’s stock valued at $582,000 after acquiring an additional 2,784 shares in the last quarter. Bank of New York Mellon Corp increased its position in Evertec by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 340,359 shares of the business services provider’s stock valued at $5,412,000 after acquiring an additional 11,217 shares in the last quarter. Sei Investments Co. increased its position in Evertec by 9.5% in the 1st quarter. Sei Investments Co. now owns 95,868 shares of the business services provider’s stock valued at $1,524,000 after acquiring an additional 8,311 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Evertec by 14.0% in the 1st quarter. Ameriprise Financial Inc. now owns 523,363 shares of the business services provider’s stock valued at $8,319,000 after acquiring an additional 64,151 shares in the last quarter. Hedge funds and other institutional investors own 77.96% of the company’s stock.
A number of brokerages have recently issued reports on EVTC. ValuEngine lowered shares of Evertec from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. BidaskClub cut shares of Evertec from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research raised shares of Evertec from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Thursday, August 3rd. Finally, Stifel Nicolaus raised shares of Evertec from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $19.25.
Evertec, Inc. (EVTC) opened at 15.85 on Monday. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 14.83 and a beta of 1.21. The stock’s 50 day moving average price is $18.50 and its 200 day moving average price is $17.04. Evertec, Inc. has a 52 week low of $14.15 and a 52 week high of $19.52.
Evertec (NYSE:EVTC) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.02. Evertec had a return on equity of 107.21% and a net margin of 19.64%. The company had revenue of $103.51 million during the quarter, compared to analysts’ expectations of $100.21 million. During the same period in the prior year, the company earned $0.43 EPS. Evertec’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that Evertec, Inc. will post $1.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 7th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, August 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 2.52%. Evertec’s dividend payout ratio is currently 37.74%.
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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