EVERTEC (NYSE:EVTC) Sees Large Volume Increase

EVERTEC, Inc. (NYSE:EVTC) saw an uptick in trading volume on Wednesday . 455,993 shares were traded during mid-day trading, an increase of 19% from the previous session’s volume of 383,944 shares.The stock last traded at $31.09 and had previously closed at $29.61.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods cut their price objective on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $41.50.

EVERTEC Trading Up 1.6 %

The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.84. The stock has a market cap of $2.11 billion, a PE ratio of 33.13, a PEG ratio of 1.79 and a beta of 1.13. The firm has a fifty day simple moving average of $34.46 and a two-hundred day simple moving average of $37.55.

EVERTEC (NYSE:EVTC) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. The business had revenue of $205.32 million during the quarter, compared to analysts’ expectations of $200.75 million. EVERTEC had a net margin of 8.87% and a return on equity of 29.86%. As a group, equities analysts expect that EVERTEC, Inc. will post 2.38 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Monday, April 29th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, April 26th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.61%. EVERTEC’s dividend payout ratio (DPR) is currently 20.20%.

Institutional Investors Weigh In On EVERTEC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVTC. Vanguard Group Inc. raised its holdings in EVERTEC by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 7,453,242 shares of the business services provider’s stock worth $305,136,000 after purchasing an additional 68,871 shares in the last quarter. American Century Companies Inc. boosted its stake in EVERTEC by 0.3% in the 3rd quarter. American Century Companies Inc. now owns 3,964,957 shares of the business services provider’s stock worth $147,417,000 after purchasing an additional 12,707 shares in the last quarter. Capital International Investors increased its stake in EVERTEC by 0.3% during the 1st quarter. Capital International Investors now owns 3,141,051 shares of the business services provider’s stock valued at $125,328,000 after purchasing an additional 9,110 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in EVERTEC by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,668,011 shares of the business services provider’s stock valued at $68,289,000 after acquiring an additional 12,575 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in EVERTEC by 386.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,296,315 shares of the business services provider’s stock valued at $53,071,000 after purchasing an additional 1,029,827 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors.

EVERTEC Company Profile

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.