Algert Global LLC Has $3.10 Million Position in EVERTEC, Inc. (NYSE:EVTC)

Algert Global LLC lifted its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 1,285.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 91,341 shares of the business services provider’s stock after purchasing an additional 84,750 shares during the period. Algert Global LLC owned 0.14% of EVERTEC worth $3,096,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. grew its holdings in EVERTEC by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock worth $145,318,000 after acquiring an additional 208,183 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of EVERTEC by 9.0% during the second quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider’s stock worth $76,421,000 after purchasing an additional 189,637 shares in the last quarter. River Road Asset Management LLC grew its stake in shares of EVERTEC by 0.3% during the third quarter. River Road Asset Management LLC now owns 1,966,626 shares of the business services provider’s stock valued at $66,649,000 after purchasing an additional 5,899 shares during the last quarter. North Star Asset Management Inc. increased its holdings in shares of EVERTEC by 0.7% in the second quarter. North Star Asset Management Inc. now owns 740,234 shares of the business services provider’s stock valued at $24,613,000 after purchasing an additional 5,475 shares in the last quarter. Finally, Natixis Advisors LLC raised its position in EVERTEC by 9.9% in the 3rd quarter. Natixis Advisors LLC now owns 582,608 shares of the business services provider’s stock worth $19,745,000 after purchasing an additional 52,586 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at EVERTEC

In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $34.11, for a total value of $1,364,400.00. Following the completion of the transaction, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at approximately $4,431,844.08. The trade was a 23.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.83% of the company’s stock.

EVERTEC Price Performance

Shares of EVTC stock opened at $36.82 on Tuesday. The firm’s 50 day moving average price is $33.76 and its two-hundred day moving average price is $33.82. The stock has a market cap of $2.34 billion, a PE ratio of 29.00, a PEG ratio of 1.65 and a beta of 1.15. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $42.21. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97.

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

EVERTEC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, October 28th will be given 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 dividend yield of 0.54%. EVERTEC’s dividend payout ratio is 15.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on EVTC shares. 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. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $33.00 to $35.00 in a research note on Thursday, November 21st.

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.