Fox Run Management L.L.C. Acquires New Position in Evertec, Inc. $EVTC

Fox Run Management L.L.C. acquired a new stake in Evertec, Inc. (NYSE:EVTC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,518 shares of the business services provider's stock, valued at approximately $497,000.

A number of other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. boosted its position in shares of Evertec by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 317,649 shares of the business services provider's stock worth $11,680,000 after purchasing an additional 7,125 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Evertec by 55.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,180 shares of the business services provider's stock valued at $414,000 after buying an additional 3,980 shares during the period. GAMMA Investing LLC boosted its holdings in Evertec by 4,773.8% during the first quarter. GAMMA Investing LLC now owns 14,524 shares of the business services provider's stock worth $534,000 after buying an additional 14,226 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Evertec by 44.7% during the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock worth $62,000 after buying an additional 525 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Evertec by 39.2% in the 1st quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock valued at $56,000 after acquiring an additional 429 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on EVTC shares. Raymond James Financial reissued an "outperform" rating and set a $43.00 price objective (up previously from $42.00) on shares of Evertec in a research note on Thursday, July 31st. Susquehanna set a $39.00 price target on shares of Evertec and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods upped their price objective on shares of Evertec from $42.00 to $44.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on Evertec in a report on Thursday, July 17th. They set a "hold" rating and a $35.00 target price on the stock. Finally, Morgan Stanley lowered their price target on Evertec from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $39.00.

Evertec Trading Down 0.6%

EVTC opened at $36.77 on Monday. The stock has a market capitalization of $2.35 billion, a P/E ratio of 17.34, a P/E/G ratio of 1.80 and a beta of 0.96. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 1.49. Evertec, Inc. has a 12 month low of $31.11 and a 12 month high of $38.56. The firm's fifty day simple moving average is $35.50 and its 200 day simple moving average is $35.26.

Evertec (NYSE:EVTC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.03. The company had revenue of $229.61 million for the quarter, compared to analyst estimates of $222.23 million. Evertec had a return on equity of 36.67% and a net margin of 15.56%. The company's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 earnings per share. As a group, research analysts anticipate that Evertec, Inc. will post 2.63 EPS for the current fiscal year.

Evertec Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 4th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $0.20 dividend on an annualized basis and a yield of 0.5%. Evertec's dividend payout ratio is 9.43%.

Insider Buying and Selling

In other news, Director Ivan Pagan sold 6,852 shares of Evertec stock in a transaction that occurred 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 sale, the director directly owned 12,473 shares in the company, valued at $457,135.45. This trade represents a 35.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aldo J. Polak sold 2,243 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $35.72, for a total transaction of $80,119.96. Following the completion of the sale, the director directly owned 11,946 shares in the company, valued at approximately $426,711.12. This represents a 15.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company's stock.

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.

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