Algert Global LLC Buys 84,750 Shares of EVERTEC, Inc. (NYSE:EVTC)

Algert Global LLC increased its stake in shares of EVERTEC, Inc. (NYSE:EVTC) by 1,285.8% during the third quarter, HoldingsChannel reports. The fund owned 91,341 shares of the business services provider’s stock after buying an additional 84,750 shares during the period. Algert Global LLC’s holdings in EVERTEC were worth $3,096,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Edgestream Partners L.P. acquired a new position in shares of EVERTEC during the second quarter worth about $8,143,000. Aptus Capital Advisors LLC raised its position in EVERTEC by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 88,055 shares of the business services provider’s stock valued at $2,928,000 after buying an additional 17,475 shares during the last quarter. Invenomic Capital Management LP bought a new stake in EVERTEC in the 1st quarter valued at approximately $2,407,000. Sei Investments Co. boosted its position in EVERTEC by 7.9% during the 2nd quarter. Sei Investments Co. now owns 480,616 shares of the business services provider’s stock worth $15,981,000 after acquiring an additional 35,118 shares during the last quarter. Finally, Bridges Investment Management Inc. bought a new position in shares of EVERTEC during the 2nd quarter worth approximately $280,000. 96.80% of the stock is owned by institutional investors.

EVERTEC Stock Up 1.4 %

NYSE:EVTC opened at $36.82 on Tuesday. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 29.00, a price-to-earnings-growth ratio of 1.65 and a beta of 1.15. EVERTEC, Inc. has a twelve month low of $28.76 and a twelve month high of $42.21. The stock’s 50 day moving average price is $33.76 and its two-hundred day moving average price is $33.82. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84.

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

EVERTEC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, October 28th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Monday, October 28th. EVERTEC’s payout ratio is currently 15.63%.

Analyst Upgrades and Downgrades

EVTC has been the topic of a number of research reports. Susquehanna lowered shares of EVERTEC from a “neutral” rating to a “negative” rating and cut their price objective for the stock 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 lifted their price target for the company from $33.00 to $35.00 in a research note on Thursday, November 21st.

Insiders Place Their Bets

In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of EVERTEC stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the transaction, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at $4,431,844.08. The trade was a 23.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.83% of the company’s stock.

EVERTEC Company 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.