EVERTEC, Inc. (NYSE:EVTC) Short Interest Down 7.4% in November

EVERTEC, Inc. (NYSE:EVTC) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 2,500,000 shares, a drop of 7.4% from the October 31st total of 2,700,000 shares. Currently, 4.0% of the shares of the stock are short sold. Based on an average trading volume of 387,100 shares, the days-to-cover ratio is presently 6.5 days.

Wall Street Analysts Forecast Growth

EVTC has been the topic of a number of research reports. Susquehanna downgraded shares of EVERTEC from a “neutral” rating to a “negative” rating and cut their target price for the company from $38.00 to $28.00 in a research report on Thursday, September 5th. Morgan Stanley upgraded shares of EVERTEC from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $33.00 to $35.00 in a research report on Thursday, November 21st.

EVERTEC Stock Down 1.3 %

EVTC traded down $0.46 during trading on Tuesday, reaching $35.52. The company had a trading volume of 249,526 shares, compared to its average volume of 390,974. EVERTEC has a 12 month low of $28.76 and a 12 month high of $42.21. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. The business’s fifty day moving average price is $34.04 and its 200 day moving average price is $33.76. The company has a market cap of $2.26 billion, a P/E ratio of 27.72, a PEG ratio of 1.63 and a beta of 1.16.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $211.80 million for the quarter, compared to analyst estimates of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Equities analysts anticipate that EVERTEC will post 2.55 EPS for the current year.

EVERTEC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. EVERTEC’s dividend payout ratio is presently 15.63%.

Hedge Funds Weigh In On EVERTEC

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new stake in EVERTEC during the second quarter worth approximately $28,000. Public Employees Retirement System of Ohio bought a new stake in shares of EVERTEC during the 3rd quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of EVERTEC during the 3rd quarter worth $55,000. Northwestern Mutual Wealth Management Co. increased its position in shares of EVERTEC by 866.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock worth $81,000 after purchasing an additional 2,175 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in EVERTEC by 90.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 1,490 shares in the last quarter. Institutional investors own 96.80% of the company’s stock.

About EVERTEC

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.