Capital Group Private Client Services Inc. Acquires 56,097 Shares of EVERTEC, Inc. (NYSE:EVTC)

Capital Group Private Client Services Inc. lifted its stake in EVERTEC, Inc. (NYSE:EVTC) by 12.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 494,836 shares of the business services provider’s stock after purchasing an additional 56,097 shares during the period. Capital Group Private Client Services Inc. owned about 0.77% of EVERTEC worth $19,744,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in EVTC. Vanguard Group Inc. raised its position in EVERTEC by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 7,453,242 shares of the business services provider’s stock valued at $305,136,000 after purchasing an additional 68,871 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of EVERTEC by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,668,011 shares of the business services provider’s stock valued at $68,289,000 after purchasing an additional 12,575 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of EVERTEC by 386.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,296,315 shares of the business services provider’s stock valued at $53,071,000 after purchasing an additional 1,029,827 shares in the last quarter. Sunriver Management LLC lifted its position in shares of EVERTEC by 22.3% in the 4th quarter. Sunriver Management LLC now owns 827,458 shares of the business services provider’s stock worth $33,876,000 after purchasing an additional 150,935 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of EVERTEC by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 709,451 shares of the business services provider’s stock valued at $29,045,000 after purchasing an additional 21,304 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

EVERTEC Stock Up 2.4 %

Shares of EVTC stock traded up $0.81 during mid-day trading on Friday, hitting $34.90. 317,736 shares of the stock traded hands, compared to its average volume of 397,753. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $42.21. The stock has a market cap of $2.25 billion, a P/E ratio of 35.26, a P/E/G ratio of 1.96 and a beta of 1.13. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.59 and a quick ratio of 1.59. The stock’s fifty day moving average is $33.83 and its two-hundred day moving average is $37.10.

EVERTEC (NYSE:EVTC) last announced its earnings results on Wednesday, May 1st. The business services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.09. EVERTEC had a net margin of 8.87% and a return on equity of 29.86%. The company had revenue of $205.32 million during the quarter, compared to the consensus estimate of $200.75 million. Equities analysts predict that EVERTEC, Inc. will post 2.38 EPS for the current year.

EVERTEC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Monday, July 29th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, July 29th. This represents a $0.20 annualized dividend and a yield of 0.57%. EVERTEC’s dividend payout ratio (DPR) is 20.20%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered their target price on EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, EVERTEC has an average rating of “Hold” and a consensus price target of $38.67.

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.