Evertec Inc (NYSE:EVTC) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 1,114,200 shares, a drop of 16.4% from the June 30th total of 1,332,500 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily volume of 373,900 shares, the short-interest ratio is currently 3.0 days.
In related news, General Counsel Luis A. Rodriguez-Gonzalez sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $28.60, for a total value of $371,800.00. Following the completion of the transaction, the general counsel now owns 73,526 shares of the company’s stock, valued at approximately $2,102,843.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.63% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in shares of Evertec by 2,259.6% during the 2nd quarter. US Bancorp DE now owns 1,345 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 1,288 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Evertec during the 2nd quarter valued at $92,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Evertec during the 1st quarter valued at $83,000. Quantamental Technologies LLC raised its holdings in shares of Evertec by 250.0% during the 1st quarter. Quantamental Technologies LLC now owns 5,600 shares of the business services provider’s stock valued at $156,000 after purchasing an additional 4,000 shares in the last quarter. Finally, USA Financial Portformulas Corp raised its holdings in shares of Evertec by 8.1% during the 2nd quarter. USA Financial Portformulas Corp now owns 6,696 shares of the business services provider’s stock valued at $186,000 after purchasing an additional 501 shares in the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.
Evertec (NYSE:EVTC) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.07. The business had revenue of $122.55 million for the quarter, compared to the consensus estimate of $117.13 million. Evertec had a net margin of 20.55% and a return on equity of 60.49%. Evertec’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS. On average, sell-side analysts anticipate that Evertec will post 1.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Monday, August 5th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, August 2nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. Evertec’s dividend payout ratio is currently 11.76%.
A number of research firms have issued reports on EVTC. Zacks Investment Research upgraded shares of Evertec from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Monday, August 5th. Susquehanna Bancshares began coverage on shares of Evertec in a research report on Friday, June 28th. They issued a “positive” rating and a $36.00 target price for the company.
EVERTEC, Inc engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates in four segments: Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; and Business Solutions.
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