Prudential Financial Inc. Buys 13,680 Shares of Evertec, Inc. (EVTC)
Prudential Financial Inc. boosted its position in Evertec, Inc. (NYSE:EVTC) by 21.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,610 shares of the business services provider’s stock after purchasing an additional 13,680 shares during the quarter. Prudential Financial Inc. owned about 0.11% of Evertec worth $1,343,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Morgan Stanley raised its holdings in Evertec by 4.9% in the 1st quarter. Morgan Stanley now owns 692,634 shares of the business services provider’s stock valued at $11,012,000 after acquiring an additional 32,348 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Evertec by 72.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 417,950 shares of the business services provider’s stock worth $6,645,000 after purchasing an additional 176,052 shares during the period. Federated Investors Inc. PA boosted its holdings in shares of Evertec by 14.8% during the second quarter. Federated Investors Inc. PA now owns 764,041 shares of the business services provider’s stock worth $13,217,000 after purchasing an additional 98,649 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Evertec by 0.7% during the second quarter. Bessemer Group Inc. now owns 86,700 shares of the business services provider’s stock worth $1,500,000 after purchasing an additional 600 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Evertec by 2.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 682,295 shares of the business services provider’s stock worth $10,849,000 after purchasing an additional 13,968 shares during the last quarter. 77.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Evertec, Inc. (EVTC) opened at 15.85 on Wednesday. Evertec, Inc. has a 12-month low of $14.15 and a 12-month high of $19.52. The company has a 50-day moving average of $17.92 and a 200-day moving average of $17.03. The stock has a market capitalization of $1.16 billion, a P/E ratio of 15.69 and a beta of 1.20.
Evertec (NYSE:EVTC) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping the 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 firm 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 business earned $0.43 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts expect that Evertec, Inc. will post $1.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Monday, August 7th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.40 annualized dividend and a yield of 2.52%. Evertec’s dividend payout ratio (DPR) is presently 37.74%.
EVTC has been the subject of a number of recent analyst reports. Zacks Investment Research raised Evertec from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Tuesday. ValuEngine upgraded Evertec from a “hold” rating to a “buy” rating in a research note on Monday. BidaskClub downgraded Evertec from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Finally, Stifel Nicolaus upgraded Evertec from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.50.
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.
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