69,283 Shares in Evertec, Inc. $EVTC Bought by Panagora Asset Management Inc.

Panagora Asset Management Inc. bought a new position in Evertec, Inc. (NYSE:EVTC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 69,283 shares of the business services provider’s stock, valued at approximately $2,498,000. Panagora Asset Management Inc. owned 0.11% of Evertec at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC grew its holdings in Evertec by 35.5% in the 1st quarter. Hsbc Holdings PLC now owns 12,707 shares of the business services provider’s stock worth $465,000 after buying an additional 3,330 shares in the last quarter. Cetera Investment Advisers boosted its position in Evertec by 8.2% during the 1st quarter. Cetera Investment Advisers now owns 11,523 shares of the business services provider’s stock worth $424,000 after acquiring an additional 878 shares during the period. American Century Companies Inc. grew its stake in shares of Evertec by 1.0% in the second quarter. American Century Companies Inc. now owns 4,558,374 shares of the business services provider’s stock worth $164,329,000 after purchasing an additional 46,147 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Evertec by 31.1% during the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 16,825 shares of the business services provider’s stock valued at $605,000 after purchasing an additional 3,991 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Evertec by 12.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,658 shares of the business services provider’s stock valued at $796,000 after purchasing an additional 2,364 shares in the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Evertec in a research report on Monday. Morgan Stanley decreased their price objective on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday, November 12th. Zacks Research lowered shares of Evertec from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Keefe, Bruyette & Woods cut their target price on Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. Finally, Susquehanna decreased their price target on Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Evertec has an average rating of “Hold” and an average price target of $35.80.

Evertec Stock Up 2.6%

NYSE EVTC opened at $30.04 on Thursday. Evertec, Inc. has a 12 month low of $26.72 and a 12 month high of $38.56. The company has a market capitalization of $1.92 billion, a P/E ratio of 13.35, a PEG ratio of 1.14 and a beta of 0.89. The company’s 50 day simple moving average is $30.17 and its 200 day simple moving average is $33.64. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.91 and a quick ratio of 2.91.

Evertec Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 3rd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. Evertec’s dividend payout ratio is currently 8.89%.

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.