JPMorgan Chase & Co. Decreases Position in Evertec Inc (EVTC)
JPMorgan Chase & Co. decreased its position in shares of Evertec Inc (NYSE:EVTC) by 56.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,444 shares of the business services provider’s stock after selling 209,359 shares during the period. JPMorgan Chase & Co.’s holdings in Evertec were worth $2,535,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its stake in Evertec by 497.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,062 shares of the business services provider’s stock worth $122,000 after acquiring an additional 5,880 shares in the last quarter. SG Americas Securities LLC acquired a new position in Evertec during the 3rd quarter worth about $146,000. Koch Industries Inc. lifted its stake in Evertec by 1,753.1% during the 2nd quarter. Koch Industries Inc. now owns 196,889 shares of the business services provider’s stock worth $186,000 after acquiring an additional 186,264 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Evertec in the 3rd quarter valued at about $189,000. Finally, Quantbot Technologies LP acquired a new stake in Evertec in the 3rd quarter valued at about $244,000. 79.34% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have issued reports on EVTC. ValuEngine raised Evertec from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research lowered Evertec from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. BidaskClub lowered Evertec from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Cowen reaffirmed a “hold” rating and issued a $20.00 price target on shares of Evertec in a research report on Thursday, October 12th. Finally, Morgan Stanley reduced their price target on Evertec from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $17.83.
Evertec Inc (EVTC) opened at $14.35 on Friday. Evertec Inc has a 1-year low of $12.60 and a 1-year high of $19.52. The company has a market capitalization of $1,040.00, a PE ratio of 16.12, a PEG ratio of 1.99 and a beta of 1.14. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.00 and a quick ratio of 1.00.
Evertec (NYSE:EVTC) last released its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). Evertec had a net margin of 15.92% and a return on equity of 95.54%. The business had revenue of $102.70 million during the quarter, compared to analysts’ expectations of $97.11 million. During the same quarter in the previous year, the company posted $0.41 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. sell-side analysts forecast that Evertec Inc will post 1.46 earnings per share for the current year.
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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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