AQR Capital Management LLC raised its stake in shares of Evertec, Inc. (NYSE:EVTC) by 18.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 316,231 shares of the business services provider’s stock after buying an additional 50,023 shares during the period. AQR Capital Management LLC owned approximately 0.44% of Evertec worth $5,028,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in EVTC. Koch Industries Inc. acquired a new stake in shares of Evertec during the first quarter valued at $169,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Evertec during the first quarter worth approximately $171,000. DF Dent & Co. Inc. increased its stake in shares of Evertec by 0.7% in the first quarter. DF Dent & Co. Inc. now owns 10,832 shares of the business services provider’s stock worth $172,000 after buying an additional 79 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Evertec during the first quarter worth approximately $181,000. Finally, Invictus RG purchased a new stake in shares of Evertec during the first quarter worth approximately $210,000. Hedge funds and other institutional investors own 79.04% of the company’s stock.
Shares of Evertec, Inc. (NYSE:EVTC) opened at 17.45 on Tuesday. The stock has a 50 day moving average price of $16.69 and a 200 day moving average price of $16.79. The firm has a market capitalization of $1.27 billion, a PE ratio of 16.48 and a beta of 1.24. Evertec, Inc. has a 1-year low of $14.15 and a 1-year high of $18.60.
Evertec (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, May 3rd. The business services provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.06. Evertec had a return on equity of 113.44% and a net margin of 19.96%. The company had revenue of $101.28 million during the quarter, compared to analysts’ expectations of $98.66 million. Equities research analysts anticipate that Evertec, Inc. will post $1.65 earnings per share for the current fiscal year.
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EVTC has been the subject of several analyst reports. Zacks Investment Research downgraded Evertec from a “buy” rating to a “hold” rating in a research report on Monday. ValuEngine cut Evertec from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub raised Evertec from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Evertec has a consensus rating of “Hold” and a consensus price target of $18.40.
EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.
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