Algert Global LLC lifted its stake in shares of Evertec Inc (NYSE:EVTC) by 23.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 142,988 shares of the business services provider’s stock after buying an additional 26,771 shares during the period. Algert Global LLC owned about 0.20% of Evertec worth $2,266,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in EVTC. IFP Advisors Inc acquired a new stake in Evertec in the second quarter valued at $108,000. BNP Paribas Arbitrage SA grew its holdings in Evertec by 497.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,062 shares of the business services provider’s stock worth $122,000 after acquiring an additional 5,880 shares during the period. SG Americas Securities LLC acquired a new stake in Evertec during the 3rd quarter worth about $146,000. Koch Industries Inc. grew its holdings in Evertec by 1,753.1% during the 2nd quarter. Koch Industries Inc. now owns 196,889 shares of the business services provider’s stock worth $186,000 after acquiring an additional 186,264 shares during the period. Finally, Boothbay Fund Management LLC acquired a new stake in Evertec during the 3rd quarter worth about $187,000. Institutional investors own 79.36% of the company’s stock.
A number of brokerages have weighed in on EVTC. BidaskClub downgraded Evertec from a “sell” rating to a “strong sell” rating in a report on Friday, October 27th. TheStreet downgraded Evertec from a “b-” rating to a “c+” rating in a report on Thursday, October 19th. Zacks Investment Research downgraded Evertec from a “hold” rating to a “strong sell” rating in a report on Monday, October 16th. Deutsche Bank decreased their price target on Evertec from $18.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, November 8th. Finally, Cowen reiterated a “hold” rating and set a $20.00 price target on shares of Evertec in a report on Thursday, October 12th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.83.
Evertec (NYSE:EVTC) last released its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.08). The company had revenue of $102.70 million for the quarter, compared to the consensus estimate of $97.11 million. Evertec had a return on equity of 95.54% and a net margin of 15.92%. Evertec’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. research analysts forecast that Evertec Inc will post 1.46 earnings per share for the current year.
Evertec Company Profile
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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