EVERTEC, Inc. (NYSE:EVTC) Short Interest Up 23.7% in June

EVERTEC, Inc. (NYSE:EVTC) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 1,930,000 shares, a growth of 23.7% from the June 15th total of 1,560,000 shares. Based on an average trading volume of 469,000 shares, the short-interest ratio is presently 4.1 days. Currently, 3.1% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods decreased their price target on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.50.

Hedge Funds Weigh In On EVERTEC

Institutional investors and hedge funds have recently bought and sold shares of the business. Deutsche Bank AG boosted its holdings in shares of EVERTEC by 1.6% in the 3rd quarter. Deutsche Bank AG now owns 255,270 shares of the business services provider’s stock valued at $9,491,000 after buying an additional 3,990 shares in the last quarter. Willis Investment Counsel grew its stake in shares of EVERTEC by 1.0% in the 4th quarter. Willis Investment Counsel now owns 34,476 shares of the business services provider’s stock valued at $1,411,000 after purchasing an additional 345 shares during the last quarter. JLB & Associates Inc. raised its position in EVERTEC by 8.5% during the 4th quarter. JLB & Associates Inc. now owns 31,737 shares of the business services provider’s stock worth $1,299,000 after buying an additional 2,491 shares during the last quarter. Wakefield Asset Management LLLP boosted its holdings in EVERTEC by 11.2% in the 4th quarter. Wakefield Asset Management LLLP now owns 22,794 shares of the business services provider’s stock valued at $933,000 after purchasing an additional 2,287 shares in the last quarter. Finally, Equitable Trust Co. lifted its holdings in shares of EVERTEC by 7.1% in the 4th quarter. Equitable Trust Co. now owns 10,956 shares of the business services provider’s stock valued at $449,000 after buying an additional 731 shares during the period. 96.80% of the stock is currently owned by institutional investors and hedge funds.

EVERTEC Stock Performance

EVTC stock traded up $0.50 during midday trading on Tuesday, hitting $33.53. 56,141 shares of the stock traded hands, compared to its average volume of 390,601. The firm has a market cap of $2.16 billion, a P/E ratio of 33.81, a PEG ratio of 1.88 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 simple moving average is $34.30 and its 200-day simple moving average is $37.39. EVERTEC has a 1-year low of $28.76 and a 1-year high of $42.21.

EVERTEC (NYSE:EVTC) last announced its earnings results on Wednesday, May 1st. The business services provider reported $0.63 earnings per share (EPS) 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 business had revenue of $205.32 million for the quarter, compared to analyst estimates of $200.75 million. On average, analysts expect that EVERTEC will post 2.38 earnings per share for the current year.

EVERTEC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Monday, April 29th were given a dividend of $0.05 per share. The ex-dividend date was Friday, April 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. EVERTEC’s payout ratio is presently 20.20%.

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.