Capital International Investors grew its holdings in shares of EVERTEC, Inc. (NYSE:EVTC – Free Report) 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 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.
Get Our Latest Research Report on EVERTEC
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.
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