Quantbot Technologies LP Sells 8,097 Shares of EVERTEC, Inc. (NYSE:EVTC)

Quantbot Technologies LP trimmed its position in EVERTEC, Inc. (NYSE:EVTC) by 14.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,415 shares of the business services provider’s stock after selling 8,097 shares during the period. Quantbot Technologies LP’s holdings in EVERTEC were worth $1,675,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can boosted its position in shares of EVERTEC by 1.1% in the 2nd quarter. Bank of Montreal Can now owns 35,084 shares of the business services provider’s stock worth $1,191,000 after purchasing an additional 381 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of EVERTEC by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider’s stock worth $1,077,000 after acquiring an additional 400 shares during the last quarter. nVerses Capital LLC increased its holdings in shares of EVERTEC by 12.5% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the business services provider’s stock valued at $122,000 after acquiring an additional 400 shares in the last quarter. Arizona State Retirement System raised its position in shares of EVERTEC by 3.2% in the 2nd quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider’s stock valued at $609,000 after purchasing an additional 561 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in EVERTEC by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 31,918 shares of the business services provider’s stock worth $1,061,000 after purchasing an additional 679 shares in the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EVTC has been the topic of a number of recent analyst reports. Morgan Stanley upgraded shares of 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. Susquehanna downgraded EVERTEC from a “neutral” rating to a “negative” rating and decreased their target price for the stock from $38.00 to $28.00 in a report on Thursday, September 5th.

EVERTEC Price Performance

NYSE:EVTC opened at $36.00 on Friday. The firm’s fifty day moving average is $33.99 and its two-hundred day moving average is $33.83. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 1.63 and a beta of 1.15. EVERTEC, Inc. has a one year low of $28.76 and a one year 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 results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate 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 period last year, the business earned $0.72 earnings per share. EVERTEC’s quarterly revenue was up 22.3% on a year-over-year basis. Research analysts expect that EVERTEC, Inc. will post 2.55 EPS for the current year.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Monday, October 28th. EVERTEC’s dividend payout ratio (DPR) 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.