Short Interest in EVERTEC, Inc. (NYSE:EVTC) Increases By 17.2%

EVERTEC, Inc. (NYSE:EVTC) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 2,450,000 shares, an increase of 17.2% from the July 15th total of 2,090,000 shares. Currently, 3.9% of the company’s shares are sold short. Based on an average daily volume of 524,600 shares, the days-to-cover ratio is presently 4.7 days.

Insider Activity

In other EVERTEC news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $35.10, for a total value of $1,263,600.00. Following the sale, the executive vice president now owns 39,370 shares of the company’s stock, valued at approximately $1,381,887. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On EVERTEC

Several hedge funds have recently bought and sold shares of the business. Bleakley Financial Group LLC boosted its position in shares of EVERTEC by 1.5% in the 1st quarter. Bleakley Financial Group LLC now owns 20,589 shares of the business services provider’s stock worth $822,000 after purchasing an additional 302 shares in the last quarter. Bank of Montreal Can increased its position in shares of EVERTEC by 1.1% during the second quarter. Bank of Montreal Can now owns 35,084 shares of the business services provider’s stock valued at $1,191,000 after acquiring an additional 381 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in EVERTEC by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider’s stock worth $1,077,000 after acquiring an additional 400 shares during the last quarter. Bridge City Capital LLC lifted its position in EVERTEC by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 58,286 shares of the business services provider’s stock valued at $2,326,000 after acquiring an additional 438 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its stake in EVERTEC by 1.6% during the 4th quarter. Yousif Capital Management LLC now owns 32,464 shares of the business services provider’s stock valued at $1,329,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Susquehanna cut their price target on shares of EVERTEC from $41.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st. Keefe, Bruyette & Woods reduced 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.67.

EVERTEC Stock Down 0.3 %

EVTC traded down $0.09 during trading on Friday, reaching $33.14. The stock had a trading volume of 234,608 shares, compared to its average volume of 402,600. EVERTEC has a one year low of $28.76 and a one year high of $42.21. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 33.47, a P/E/G ratio of 2.02 and a beta of 1.13. The company has a current ratio of 1.82, a quick ratio of 1.59 and a debt-to-equity ratio of 1.92. The stock’s 50 day moving average is $33.33 and its two-hundred day moving average is $36.40.

EVERTEC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Monday, July 29th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, July 29th. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. EVERTEC’s dividend payout ratio (DPR) is currently 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.