EMC Capital Management Invests $243,000 in EVERTEC, Inc. (NYSE:EVTC)

EMC Capital Management bought a new stake in shares of EVERTEC, Inc. (NYSE:EVTC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,102 shares of the business services provider’s stock, valued at approximately $243,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of EVERTEC during the fourth quarter worth about $31,000. Principal Securities Inc. purchased a new stake in EVERTEC during the 4th quarter worth approximately $36,000. EntryPoint Capital LLC raised its holdings in shares of EVERTEC by 48.9% during the first quarter. EntryPoint Capital LLC now owns 2,761 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 907 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of EVERTEC in the first quarter valued at approximately $162,000. Finally, AlphaQ Advisors LLC purchased a new stake in shares of EVERTEC during the fourth quarter worth approximately $231,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EVTC. Susquehanna decreased their price objective on EVERTEC from $41.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods lowered their price target on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $37.67.

EVERTEC Trading Down 1.6 %

EVTC stock traded down $0.55 during trading on Friday, reaching $34.53. 525,901 shares of the stock were exchanged, compared to its average volume of 404,783. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 35.43, a P/E/G ratio of 1.98 and a beta of 1.13. The business has a 50 day moving average price of $33.66 and a 200-day moving average price of $36.95. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $42.21.

EVERTEC (NYSE:EVTC) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.54 by $0.09. The firm had revenue of $205.32 million for the quarter, compared to analyst estimates of $200.75 million. EVERTEC had a net margin of 8.84% and a return on equity of 31.18%. On average, research analysts predict that EVERTEC, Inc. will post 2.38 earnings per share for the current year.

EVERTEC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Monday, July 29th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Monday, July 29th. EVERTEC’s dividend 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.