Penserra Capital Management LLC Sells 17,533 Shares of EVERTEC, Inc. (NYSE:EVTC)

Penserra Capital Management LLC trimmed its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 21.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,596 shares of the business services provider’s stock after selling 17,533 shares during the quarter. Penserra Capital Management LLC’s holdings in EVERTEC were worth $2,155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of EVTC. CANADA LIFE ASSURANCE Co increased its holdings in EVERTEC by 1.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 69,385 shares of the business services provider’s stock valued at $2,769,000 after purchasing an additional 979 shares in the last quarter. Invenomic Capital Management LP bought a new position in shares of EVERTEC in the first quarter valued at about $2,407,000. EMC Capital Management acquired a new position in EVERTEC during the 1st quarter worth about $243,000. Opal Wealth Advisors LLC bought a new stake in EVERTEC during the 2nd quarter worth about $28,000. Finally, Louisiana State Employees Retirement System increased its position in EVERTEC by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider’s stock valued at $1,077,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EVTC shares. Morgan Stanley raised shares of EVERTEC from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $33.00 to $35.00 in a research note on Thursday, November 21st. Susquehanna lowered EVERTEC from a “neutral” rating to a “negative” rating and decreased their price objective for the company from $38.00 to $28.00 in a research report on Thursday, September 5th.

Insider Buying and Selling at EVERTEC

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the transaction, the executive vice president now owns 129,928 shares in the company, valued at approximately $4,431,844.08. The trade was a 23.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.83% of the company’s stock.

EVERTEC Stock Up 1.4 %

Shares of NYSE EVTC opened at $36.82 on Tuesday. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $42.21. The firm’s 50-day moving average is $33.76 and its 200-day moving average is $33.82. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $2.34 billion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 1.65 and a beta of 1.15.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The firm had revenue of $211.80 million for the quarter, compared to analysts’ expectations of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. Equities analysts expect that EVERTEC, Inc. will post 2.55 EPS for the current year.

EVERTEC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, October 28th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.54%. EVERTEC’s dividend payout ratio is presently 15.63%.

EVERTEC 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.