World Investment Advisors LLC Purchases Shares of 17,521 EVERTEC, Inc. (NYSE:EVTC)

World Investment Advisors LLC acquired a new position in EVERTEC, Inc. (NYSE:EVTC) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 17,521 shares of the business services provider’s stock, valued at approximately $594,000.

Several other hedge funds also recently made changes to their positions in EVTC. FMR LLC increased its stake in EVERTEC by 36.6% in the 3rd 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 in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of EVERTEC during the second quarter valued at approximately $8,143,000. American Century Companies Inc. raised its holdings 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 valued at $145,318,000 after acquiring an additional 208,183 shares during the period. Victory Capital Management Inc. lifted its position in shares of EVERTEC by 9.0% in the 2nd quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider’s stock valued at $76,421,000 after acquiring an additional 189,637 shares in the last quarter. Finally, F M Investments LLC acquired a new position in EVERTEC in the 2nd quarter worth approximately $5,672,000. Institutional investors and hedge funds own 96.80% of the company’s stock.

Wall Street Analysts Forecast Growth

EVTC has been the topic of several recent analyst reports. Susquehanna lowered EVERTEC from a “neutral” rating to a “negative” rating and dropped their price target for the company from $38.00 to $28.00 in a research report on Thursday, September 5th. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $33.00 to $35.00 in a research note on Thursday, November 21st.

EVERTEC Stock Performance

EVTC opened at $35.19 on Tuesday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. The stock’s 50 day moving average price is $34.41 and its two-hundred day moving average price is $33.74. The firm has a market capitalization of $2.24 billion, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. EVERTEC, Inc. has a 12-month low of $28.76 and a 12-month high of $42.21.

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

EVERTEC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, October 28th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. EVERTEC’s payout ratio is presently 15.63%.

Insider Transactions at EVERTEC

In other EVERTEC news, EVP Daniel Brignardello sold 3,842 shares of EVERTEC stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $36.00, for a total value of $138,312.00. Following the completion of the transaction, the executive vice president now owns 32,481 shares in the company, valued at approximately $1,169,316. The trade was a 10.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of EVERTEC stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $36.08, for a total value of $1,748,184.24. Following the completion of the transaction, the chief financial officer now directly owns 54,998 shares of the company’s stock, valued at $1,984,327.84. This represents a 46.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by insiders.

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.