TD Asset Management Inc. Buys New Stake in Evertec Inc (EVTC)
TD Asset Management Inc. bought a new stake in Evertec Inc (NYSE:EVTC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 291,000 shares of the business services provider’s stock, valued at approximately $6,358,000. TD Asset Management Inc. owned 0.40% of Evertec as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in EVTC. BlackRock Inc. raised its position in Evertec by 99.6% in the first quarter. BlackRock Inc. now owns 7,779,713 shares of the business services provider’s stock valued at $127,198,000 after purchasing an additional 3,881,373 shares during the period. Pzena Investment Management LLC purchased a new stake in Evertec in the first quarter valued at approximately $25,681,000. Copper Rock Capital Partners LLC purchased a new stake in Evertec in the second quarter valued at approximately $21,616,000. Dimensional Fund Advisors LP raised its position in Evertec by 431.6% in the first quarter. Dimensional Fund Advisors LP now owns 560,126 shares of the business services provider’s stock valued at $9,158,000 after purchasing an additional 454,758 shares during the period. Finally, Principal Financial Group Inc. raised its position in Evertec by 1,053.2% in the first quarter. Principal Financial Group Inc. now owns 497,065 shares of the business services provider’s stock valued at $8,127,000 after purchasing an additional 453,963 shares during the period. 83.76% of the stock is currently owned by institutional investors.
Evertec opened at $24.35 on Monday, Marketbeat Ratings reports. Evertec Inc has a twelve month low of $12.60 and a twelve month high of $25.10. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market cap of $1.77 billion, a PE ratio of 16.56 and a beta of 1.19.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Monday, August 6th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, August 3rd. Evertec’s dividend payout ratio is currently 13.61%.
EVTC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised Evertec from an “underweight” rating to a “neutral” rating in a research report on Wednesday, May 2nd. Morgan Stanley boosted their target price on Evertec from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 2nd. Zacks Investment Research raised Evertec from a “hold” rating to a “strong-buy” rating and set a $23.00 target price on the stock in a research report on Friday, May 4th. TheStreet raised Evertec from a “c+” rating to a “b” rating in a research report on Thursday, May 10th. Finally, ValuEngine lowered Evertec from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $21.33.
In related news, EVP Guillermo Rospigliosi acquired 2,870 shares of the business’s stock in a transaction dated Saturday, August 11th. The shares were acquired at an average price of $17.41 per share, with a total value of $49,966.70. Following the completion of the transaction, the executive vice president now owns 51,687 shares of the company’s stock, valued at $899,870.67. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by corporate insiders.
EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.
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