Invenomic Capital Management LP Has $6.30 Million Holdings in EVERTEC, Inc. (NYSE:EVTC)

Invenomic Capital Management LP cut its holdings in EVERTEC, Inc. (NYSE:EVTC) by 16.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 185,922 shares of the business services provider’s stock after selling 36,010 shares during the quarter. Invenomic Capital Management LP owned 0.29% of EVERTEC worth $6,301,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in EVTC. FMR LLC raised its position in shares of EVERTEC by 36.6% during the third quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock worth $308,882,000 after purchasing an additional 2,440,680 shares during the period. Edgestream Partners L.P. acquired a new position in shares of EVERTEC during the second quarter worth approximately $8,143,000. American Century Companies Inc. raised its position in shares of EVERTEC by 5.0% during the second quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock worth $145,318,000 after purchasing an additional 208,183 shares during the period. Victory Capital Management Inc. raised its position in shares of EVERTEC by 9.0% during the second quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider’s stock worth $76,421,000 after purchasing an additional 189,637 shares during the period. Finally, F M Investments LLC acquired a new position in shares of EVERTEC during the second quarter worth approximately $5,672,000. 96.80% of the stock is owned by institutional investors and hedge funds.

EVERTEC Stock Up 0.2 %

Shares of NYSE:EVTC opened at $36.05 on Tuesday. The company has a market capitalization of $2.29 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. 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 has a fifty day moving average price of $34.04 and a two-hundred day moving average price of $33.76. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $42.21.

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

EVERTEC Announces Dividend

The company also recently declared 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 0.55%. EVERTEC’s payout ratio is 15.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Susquehanna downgraded EVERTEC from a “neutral” rating to a “negative” rating and decreased their price target for the stock from $38.00 to $28.00 in a report on Thursday, September 5th. Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $33.00 to $35.00 in a report on Thursday, November 21st.

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.