Exchange Traded Concepts LLC Invests $777,000 in Evertec, Inc. (NYSE:EVTC)

Exchange Traded Concepts LLC bought a new stake in shares of Evertec, Inc. (NYSE:EVTC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 21,141 shares of the business services provider's stock, valued at approximately $777,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. New York State Common Retirement Fund grew its position in shares of Evertec by 43.4% during the 4th quarter. New York State Common Retirement Fund now owns 129,235 shares of the business services provider's stock valued at $4,462,000 after buying an additional 39,139 shares during the last quarter. Amundi lifted its position in Evertec by 83.0% in the 4th quarter. Amundi now owns 43,416 shares of the business services provider's stock worth $1,459,000 after buying an additional 19,693 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Evertec by 4,773.8% during the 1st quarter. GAMMA Investing LLC now owns 14,524 shares of the business services provider's stock worth $534,000 after purchasing an additional 14,226 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Evertec by 2.4% during the 4th quarter. Principal Financial Group Inc. now owns 310,524 shares of the business services provider's stock worth $10,722,000 after purchasing an additional 7,342 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Evertec by 1.8% in the 4th quarter. Rhumbline Advisers now owns 174,264 shares of the business services provider's stock valued at $6,017,000 after buying an additional 3,020 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Susquehanna set a $39.00 price objective on shares of Evertec and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Raymond James Financial boosted their price objective on shares of Evertec from $39.00 to $42.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Evertec from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, William Blair reaffirmed an "outperform" rating on shares of Evertec in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.00.

Evertec Stock Down 1.0%

Shares of NYSE:EVTC traded down $0.37 during midday trading on Friday, hitting $35.61. 670,802 shares of the company's stock were exchanged, compared to its average volume of 361,894. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.99 and a quick ratio of 1.99. The stock has a 50 day moving average price of $35.52 and a 200-day moving average price of $34.86. The company has a market cap of $2.27 billion, a PE ratio of 17.89 and a beta of 0.99. Evertec, Inc. has a 12 month low of $28.76 and a 12 month high of $38.56.

Evertec (NYSE:EVTC - Get Free Report) last released its earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.06. The firm had revenue of $228.79 million for the quarter, compared to analysts' expectations of $217.97 million. Evertec had a net margin of 14.89% and a return on equity of 38.45%. The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 earnings per share. On average, sell-side analysts anticipate that Evertec, Inc. will post 2.63 EPS for the current fiscal year.

Evertec Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 13th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Tuesday, May 13th. Evertec's payout ratio is presently 10.05%.

Insider Buying and Selling

In other news, Director Ivan Pagan sold 6,852 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $36.65, for a total value of $251,125.80. Following the completion of the sale, the director now directly owns 12,473 shares of the company's stock, valued at $457,135.45. This represents a 35.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Luis A. Rodriguez-Gonzalez sold 18,898 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $35.69, for a total transaction of $674,469.62. Following the completion of the sale, the executive vice president now directly owns 35,203 shares of the company's stock, valued at approximately $1,256,395.07. This trade represents a 34.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,391 shares of company stock worth $2,662,856 in the last 90 days. 0.63% of the stock is owned by company 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.