Invenomic Capital Management LP Lowers Position in EVERTEC, Inc. (NYSE:EVTC)

Invenomic Capital Management LP trimmed its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 16.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,922 shares of the business services provider’s stock after selling 36,010 shares during the period. Invenomic Capital Management LP’s holdings in EVERTEC were worth $6,301,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of EVTC. Opal Wealth Advisors LLC purchased a new position in shares of EVERTEC during the 2nd quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in EVERTEC during the 3rd quarter worth approximately $55,000. Northwestern Mutual Wealth Management Co. grew its position 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. grew its position in shares of EVERTEC by 90.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock worth $104,000 after buying an additional 1,490 shares during the last quarter. Finally, nVerses Capital LLC grew its position 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 worth $106,000 after buying an additional 1,300 shares during the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

EVERTEC Stock Performance

NYSE EVTC opened at $36.05 on Tuesday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. EVERTEC, Inc. has a twelve month low of $28.76 and a twelve month high of $42.21. The business has a 50-day moving average price of $34.04 and a 200-day moving average price of $33.76.

EVERTEC (NYSE:EVTC) last posted its earnings results on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The company had revenue of $211.80 million for the quarter, compared to the consensus estimate of $211.51 million. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. As a group, equities research analysts predict that EVERTEC, Inc. will post 2.55 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, October 28th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. EVERTEC’s dividend payout ratio (DPR) is presently 15.63%.

Wall Street Analyst Weigh In

EVTC has been the topic of a number of recent analyst reports. Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $33.00 to $35.00 in a research report on Thursday, November 21st. Susquehanna cut EVERTEC from a “neutral” rating to a “negative” rating and decreased their price target for the stock from $38.00 to $28.00 in a research note on Thursday, September 5th.

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.