Bessemer Group Inc. Raises Position in Evertec, Inc. (NYSE:EVTC)
Bessemer Group Inc. raised its position in shares of Evertec, Inc. (NYSE:EVTC) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 86,700 shares of the business services provider’s stock after buying an additional 600 shares during the period. Bessemer Group Inc.’s holdings in Evertec were worth $1,500,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of EVTC. Koch Industries Inc. acquired a new position in shares of Evertec during the first quarter worth about $169,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Evertec during the first quarter worth about $171,000. DF Dent & Co. Inc. raised its position in shares of Evertec by 0.7% in the first quarter. DF Dent & Co. Inc. now owns 10,832 shares of the business services provider’s stock worth $172,000 after buying an additional 79 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Evertec during the first quarter worth about $181,000. Finally, Invictus RG acquired a new position in shares of Evertec during the first quarter worth about $210,000. Institutional investors and hedge funds own 79.09% of the company’s stock.
Evertec, Inc. (NYSE EVTC) opened at 18.35 on Friday. Evertec, Inc. has a 12-month low of $14.15 and a 12-month high of $19.52. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 17.17 and a beta of 1.25. The firm’s 50-day moving average is $17.61 and its 200 day moving average is $16.79.
Evertec (NYSE:EVTC) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.02. Evertec had a return on equity of 107.21% and a net margin of 19.64%. The firm had revenue of $103.51 million during the quarter, compared to the consensus estimate of $100.21 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts expect that Evertec, Inc. will post $1.70 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Monday, August 7th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.40 annualized dividend and a yield of 2.18%. Evertec’s payout ratio is currently 37.74%.
EVTC has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Evertec from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Tuesday, July 4th. BidaskClub upgraded shares of Evertec from a “strong sell” rating to a “sell” rating in a report on Saturday, July 1st. Finally, ValuEngine lowered shares of Evertec from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Evertec currently has an average rating of “Hold” and an average target price of $19.00.
Evertec Company Profile
EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.
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