Credit Suisse AG Has $1.75 Million Position in Evertec, Inc. (EVTC)
Credit Suisse AG lowered its position in Evertec, Inc. (NYSE:EVTC) by 28.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,880 shares of the business services provider’s stock after selling 42,729 shares during the period. Credit Suisse AG’s holdings in Evertec were worth $1,746,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EVTC. Vanguard Group Inc. increased its position in Evertec by 4.4% in the first quarter. Vanguard Group Inc. now owns 5,079,500 shares of the business services provider’s stock worth $80,764,000 after buying an additional 215,429 shares in the last quarter. Rivulet Capital LLC increased its position in Evertec by 1.5% in the first quarter. Rivulet Capital LLC now owns 2,922,805 shares of the business services provider’s stock worth $46,473,000 after buying an additional 42,900 shares in the last quarter. Renaissance Technologies LLC increased its position in Evertec by 6.5% in the first quarter. Renaissance Technologies LLC now owns 2,907,700 shares of the business services provider’s stock worth $46,232,000 after buying an additional 178,700 shares in the last quarter. American Century Companies Inc. increased its position in Evertec by 11.3% in the first quarter. American Century Companies Inc. now owns 2,106,481 shares of the business services provider’s stock worth $33,493,000 after buying an additional 213,337 shares in the last quarter. Finally, State Street Corp increased its position in Evertec by 0.6% in the first quarter. State Street Corp now owns 1,191,715 shares of the business services provider’s stock worth $18,948,000 after buying an additional 7,144 shares in the last quarter. 79.09% of the stock is currently owned by institutional investors.
Shares of Evertec, Inc. (NYSE:EVTC) traded up 0.82% during mid-day trading on Friday, hitting $18.35. The company had a trading volume of 259,063 shares. Evertec, Inc. has a 12-month low of $14.15 and a 12-month high of $19.52. The firm’s 50 day moving average is $17.61 and its 200-day moving average is $16.79. The firm has a market cap of $1.33 billion, a PE ratio of 17.17 and a beta of 1.25.
Evertec (NYSE:EVTC) last issued its earnings results on Tuesday, August 1st. The business services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $103.51 million during the quarter, compared to analysts’ expectations of $100.21 million. Evertec had a net margin of 19.64% and a return on equity of 107.21%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. On average, equities analysts expect that Evertec, Inc. will post $1.70 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Monday, August 7th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Thursday, August 3rd. Evertec’s payout ratio is 37.74%.
Several analysts recently issued reports on EVTC shares. Zacks Investment Research raised Evertec from a “sell” rating to a “hold” rating in a report on Friday, May 5th. BidaskClub raised Evertec from a “strong sell” rating to a “sell” rating in a report on Saturday, July 1st. Finally, ValuEngine downgraded Evertec from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $19.00.
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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