Fmr LLC lessened its position in shares of Evertec, Inc. (NYSE:EVTC) by 8.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,655,524 shares of the business services provider’s stock after selling 855,699 shares during the period. Fmr LLC owned 13.34% of Evertec worth $167,041,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in Evertec in the first quarter worth $374,000. First Trust Advisors LP grew its holdings in Evertec by 8.2% in the first quarter. First Trust Advisors LP now owns 36,591 shares of the business services provider’s stock worth $582,000 after purchasing an additional 2,784 shares during the period. Bank of New York Mellon Corp grew its holdings in 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 purchasing an additional 11,217 shares during the period. Sei Investments Co. grew its holdings in 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 purchasing an additional 8,311 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Evertec by 14.0% in the first quarter. Ameriprise Financial Inc. now owns 523,363 shares of the business services provider’s stock worth $8,319,000 after purchasing an additional 64,151 shares during the period. 77.96% of the stock is owned by institutional investors and hedge funds.

Evertec, Inc. (EVTC) opened at 15.50 on Thursday. The stock’s 50 day moving average is $17.83 and its 200-day moving average is $17.02. The firm has a market capitalization of $1.12 billion, a PE ratio of 14.50 and a beta of 1.20. Evertec, Inc. has a one year low of $14.15 and a one year high of $19.52.

Evertec (NYSE:EVTC) last issued its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $103.51 million during the quarter, compared to analyst estimates of $100.21 million. During the same period in the prior year, the business earned $0.43 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts anticipate that Evertec, Inc. will post $1.64 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 7th were paid a $0.10 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $0.40 annualized dividend and a dividend yield of 2.58%. Evertec’s payout ratio is 37.74%.

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EVTC has been the subject of a number of research reports. Zacks Investment Research upgraded 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 Tuesday. BidaskClub upgraded shares of Evertec from a “strong sell” rating to a “sell” rating in a report on Saturday, July 1st. ValuEngine upgraded shares of Evertec from a “hold” rating to a “buy” rating in a report on Monday. Finally, Stifel Nicolaus upgraded 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, September 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average 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.

Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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