Edgestream Partners L.P. Makes New $8.14 Million Investment in EVERTEC, Inc. (NYSE:EVTC)

Edgestream Partners L.P. acquired a new stake in EVERTEC, Inc. (NYSE:EVTC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 244,917 shares of the business services provider’s stock, valued at approximately $8,143,000. Edgestream Partners L.P. owned approximately 0.38% of EVERTEC at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB increased its stake in EVERTEC by 29.2% in the first quarter. Nordea Investment Management AB now owns 217,123 shares of the business services provider’s stock valued at $8,770,000 after acquiring an additional 49,115 shares during the last quarter. Norges Bank bought a new position in shares of EVERTEC in the 4th quarter valued at $19,626,000. Charles Schwab Investment Management Inc. raised its holdings in shares of EVERTEC by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 709,451 shares of the business services provider’s stock worth $29,045,000 after buying an additional 21,304 shares in the last quarter. Aptus Capital Advisors LLC lifted its position in shares of EVERTEC by 24.8% during the 2nd quarter. Aptus Capital Advisors LLC now owns 88,055 shares of the business services provider’s stock worth $2,928,000 after buying an additional 17,475 shares during the last quarter. Finally, Invenomic Capital Management LP acquired a new stake in EVERTEC in the first quarter valued at about $2,407,000. 96.80% of the stock is currently owned by institutional investors.

Insider Transactions at EVERTEC

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total value of $1,364,400.00. Following the sale, the executive vice president now directly owns 129,928 shares in the company, valued at $4,431,844.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other EVERTEC news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $35.10, for a total transaction of $1,263,600.00. Following the completion of the sale, the executive vice president now directly owns 39,370 shares in the company, valued at approximately $1,381,887. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $34.11, for a total value of $1,364,400.00. Following the completion of the transaction, the executive vice president now directly owns 129,928 shares in the company, valued at $4,431,844.08. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate insiders.

EVERTEC Stock Up 1.6 %

NYSE:EVTC opened at $33.91 on Tuesday. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $42.21. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.82 and a quick ratio of 1.82. The company has a market cap of $2.18 billion, a PE ratio of 34.25, a P/E/G ratio of 1.63 and a beta of 1.15. The firm’s 50 day simple moving average is $33.34 and its 200 day simple moving average is $35.25.

EVERTEC (NYSE:EVTC) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.19. EVERTEC had a net margin of 8.84% and a return on equity of 32.08%. The company had revenue of $211.98 million for the quarter, compared to analyst estimates of $209.40 million. On average, research analysts anticipate that EVERTEC, Inc. will post 2.53 earnings per share for the current year.

EVERTEC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, July 29th were paid a $0.05 dividend. The ex-dividend date was Monday, July 29th. This represents a $0.20 annualized dividend and a dividend yield of 0.59%. EVERTEC’s payout ratio is 20.20%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on EVTC shares. Keefe, Bruyette & Woods decreased their price target on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Susquehanna downgraded shares of EVERTEC from a “neutral” rating to a “negative” rating and lowered their price target for the stock from $38.00 to $28.00 in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $34.33.

EVERTEC 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.