Fmr LLC Purchases 2,440,680 Shares of EVERTEC, Inc. (NYSE:EVTC)

Fmr LLC grew its position in EVERTEC, Inc. (NYSE:EVTC) by 36.6% during the third quarter, HoldingsChannel.com reports. The fund owned 9,114,244 shares of the business services provider’s stock after acquiring an additional 2,440,680 shares during the quarter. Fmr LLC owned about 0.14% of EVERTEC worth $308,882,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of EVTC. Opal Wealth Advisors LLC bought a new stake in EVERTEC in the second quarter worth $28,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of EVERTEC by 866.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock worth $81,000 after buying an additional 2,175 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of EVERTEC by 90.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock valued at $104,000 after buying an additional 1,490 shares in the last quarter. nVerses Capital LLC lifted its holdings in shares of EVERTEC by 68.4% in the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Algert Global LLC purchased a new position in EVERTEC in the second quarter worth about $219,000. 96.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

EVERTEC Stock Up 0.4 %

Shares of NYSE EVTC opened at $36.00 on Friday. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $42.21. The firm has a 50-day simple moving average of $33.99 and a two-hundred day simple moving average of $33.80. The company has a market cap of $2.29 billion, a P/E ratio of 28.13, a PEG ratio of 1.63 and a beta of 1.15. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97.

EVERTEC (NYSE:EVTC) last posted 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. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The company had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $211.51 million. During the same quarter in the previous year, the business earned $0.72 EPS. EVERTEC’s revenue was up 22.3% compared to the same quarter last year. Research analysts anticipate that EVERTEC, Inc. will post 2.55 earnings per share for the current year.

EVERTEC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, October 28th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Monday, October 28th. EVERTEC’s dividend payout ratio is presently 15.63%.

About EVERTEC

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.