Legal & General Group Plc Decreases Stake in Evertec, Inc. (EVTC)
Legal & General Group Plc lowered its position in shares of Evertec, Inc. (NYSE:EVTC) by 0.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 23,821 shares of the business services provider’s stock after selling 193 shares during the quarter. Legal & General Group Plc’s holdings in Evertec were worth $410,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of EVTC. IFP Advisors Inc purchased a new stake in shares of Evertec during the 2nd quarter worth about $108,000. Koch Industries Inc. purchased a new stake in shares of Evertec during the 1st quarter worth about $169,000. DF Dent & Co. Inc. grew its holdings in shares of Evertec by 0.7% during the 1st quarter. DF Dent & Co. Inc. now owns 10,832 shares of the business services provider’s stock worth $172,000 after purchasing an additional 79 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Evertec during the 1st quarter worth about $181,000. Finally, Invictus RG purchased a new stake in shares of Evertec during the 1st quarter worth about $210,000. Institutional investors and hedge funds own 77.96% of the company’s stock.
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Evertec, Inc. (NYSE EVTC) opened at 15.85 on Friday. The stock has a market cap of $1.15 billion, a PE ratio of 14.83 and a beta of 1.20. Evertec, Inc. has a 12-month low of $14.15 and a 12-month high of $19.52. The firm has a 50-day moving average price of $17.66 and a 200-day moving average price of $17.00.
Evertec (NYSE:EVTC) last issued its quarterly earnings data 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. The business had revenue of $103.51 million for the quarter, compared to analyst estimates of $100.21 million. Evertec had a return on equity of 107.21% and a net margin of 19.64%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 EPS. Analysts forecast that Evertec, Inc. will post $1.63 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 7th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Thursday, August 3rd. Evertec’s dividend payout ratio is 37.74%.
A number of analysts have recently issued reports on EVTC shares. ValuEngine cut Evertec from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Zacks Investment Research upgraded Evertec from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Tuesday, July 4th. BidaskClub cut Evertec from a “hold” rating to a “sell” rating in a 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 for the company in a report on Thursday, September 28th. One investment 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’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.50.
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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