Capital International Investors Grows Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Capital International Investors grew its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 0.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,141,051 shares of the business services provider’s stock after purchasing an additional 9,110 shares during the quarter. Capital International Investors owned approximately 4.88% of EVERTEC worth $125,328,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Nordea Investment Management AB boosted its position in shares of EVERTEC by 29.2% in the first quarter. Nordea Investment Management AB now owns 217,123 shares of the business services provider’s stock worth $8,770,000 after acquiring an additional 49,115 shares during the last quarter. Meritage Portfolio Management grew its stake in shares of EVERTEC by 5.5% during the 4th quarter. Meritage Portfolio Management now owns 14,245 shares of the business services provider’s stock valued at $583,000 after buying an additional 744 shares during the period. Norges Bank purchased a new stake in shares of EVERTEC during the 4th quarter valued at $19,626,000. Louisiana State Employees Retirement System acquired a new stake in shares of EVERTEC during the 4th quarter worth $1,347,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of EVERTEC by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 709,451 shares of the business services provider’s stock worth $29,045,000 after buying an additional 21,304 shares during the period. Hedge funds and other institutional investors own 96.80% of the company’s stock.

EVERTEC Trading Up 2.4 %

EVTC stock traded up $0.82 during midday trading on Friday, reaching $34.91. 317,736 shares of the company’s stock traded hands, compared to its average volume of 609,641. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.59 and a quick ratio of 1.59. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $42.21. The business has a 50-day moving average price of $33.78 and a two-hundred day moving average price of $37.06. The company has a market capitalization of $2.25 billion, a P/E ratio of 35.26, a PEG ratio of 1.96 and a beta of 1.13.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. EVERTEC had a net margin of 8.87% and a return on equity of 29.86%. The firm had revenue of $205.32 million during the quarter, compared to analysts’ expectations of $200.75 million. Equities research analysts forecast that EVERTEC, Inc. will post 2.38 EPS for the current fiscal year.

EVERTEC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Monday, July 29th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, July 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. EVERTEC’s dividend payout ratio (DPR) is currently 20.20%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reduced their target price on EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $38.67.

EVERTEC 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.