EVERTEC, Inc. (NYSE:EVTC) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lessened its holdings in EVERTEC, Inc. (NYSE:EVTC) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,282,462 shares of the business services provider’s stock after selling 29,533 shares during the period. Loomis Sayles & Co. L P’s holdings in EVERTEC were worth $43,462,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Opal Wealth Advisors LLC acquired a new stake in EVERTEC in the 2nd quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of EVERTEC by 866.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock valued at $81,000 after buying an additional 2,175 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of EVERTEC by 90.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock valued at $104,000 after buying an additional 1,490 shares during the last quarter. nVerses Capital LLC increased its position in shares of EVERTEC by 68.4% in the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 1,300 shares during the period. Finally, Algert Global LLC purchased a new position in EVERTEC in the 2nd quarter worth $219,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.

EVERTEC Stock Up 1.4 %

EVERTEC stock opened at $36.82 on Tuesday. The business’s 50-day moving average price is $33.76 and its 200 day moving average price is $33.82. 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 firm has a market cap of $2.34 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 1.65 and a beta of 1.15. EVERTEC, Inc. has a 52 week low of $28.76 and a 52 week high of $42.21.

EVERTEC (NYSE:EVTC) last posted 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 firm had revenue of $211.80 million during the quarter, compared to analyst estimates of $211.51 million. During the same period in the previous year, the firm earned $0.72 EPS. The business’s quarterly revenue was up 22.3% on a year-over-year basis. As a group, sell-side analysts anticipate that EVERTEC, Inc. will post 2.55 earnings per share for the current year.

EVERTEC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Monday, October 28th. EVERTEC’s payout ratio is currently 15.63%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, EVP Miguel Vizcarrondo sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the transaction, the executive vice president now owns 129,928 shares in the company, valued at $4,431,844.08. This trade represents a 23.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.83% of the company’s stock.

About EVERTEC

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.