Eagle Asset Management Inc. decreased its holdings in shares of EVERTEC, Inc. (NYSE:EVTC – Get Rating) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 239,618 shares of the business services provider’s stock after selling 3,026 shares during the quarter. Eagle Asset Management Inc. owned about 0.36% of EVERTEC worth $7,512,000 at the end of the most recent quarter.
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Other hedge funds have also recently added to or reduced their stakes in the company. Wipfli Financial Advisors LLC bought a new stake in EVERTEC during the 3rd quarter valued at approximately $27,000. CWM LLC boosted its stake in EVERTEC by 269.9% during the 3rd quarter. CWM LLC now owns 910 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 664 shares during the period. Nisa Investment Advisors LLC boosted its stake in EVERTEC by 31.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,450 shares of the business services provider’s stock valued at $90,000 after purchasing an additional 580 shares during the period. Penserra Capital Management LLC bought a new stake in EVERTEC during the 1st quarter valued at approximately $154,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of EVERTEC in the 3rd quarter worth approximately $138,000. Institutional investors own 97.74% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on EVTC. StockNews.com began coverage on EVERTEC in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on EVERTEC from $43.00 to $33.00 in a research report on Thursday, November 3rd. Raymond James reduced their price objective on EVERTEC from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, November 3rd. Morgan Stanley reduced their price objective on EVERTEC from $31.00 to $29.00 and set an “underweight” rating for the company in a research report on Thursday, November 3rd. Finally, Keefe, Bruyette & Woods cut their target price on EVERTEC from $46.00 to $42.00 in a research report on Monday, October 10th.
EVERTEC Trading Up 2.1 %
EVTC stock opened at $38.16 on Friday. The business has a fifty day moving average price of $33.41 and a 200 day moving average price of $33.98. EVERTEC, Inc. has a fifty-two week low of $30.17 and a fifty-two week high of $44.24. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 10.54 and a beta of 0.96. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.22 and a quick ratio of 2.22.
EVERTEC (NYSE:EVTC – Get Rating) last released its earnings results on Wednesday, November 2nd. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.19). The firm had revenue of $145.80 million during the quarter, compared to analyst estimates of $145.29 million. EVERTEC had a net margin of 41.09% and a return on equity of 33.61%. Analysts expect that EVERTEC, Inc. will post 2.19 EPS for the current fiscal year.
EVERTEC, Inc engages in the provision of transaction services. It operates through the following segments: Payment Services-Puerto Rico and Caribbean, Payment Services-Latin America, Merchant Acquiring, Business Solutions, and Corporate and Other. The Payment Services segment is involved in the authorization, processing, management and recording of automated teller machines (ATM) and point of sales transactions, and ATM management and monitoring.
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