Waddell & Reed Financial Inc. Buys New Holdings in Evertec Inc (EVTC)
Waddell & Reed Financial Inc. bought a new position in shares of Evertec Inc (NYSE:EVTC) in the second quarter, HoldingsChannel reports. The fund bought 674,100 shares of the business services provider’s stock, valued at approximately $14,729,000.
Several other institutional investors have also added to or reduced their stakes in EVTC. BlackRock Inc. grew its holdings in shares of Evertec by 99.6% during the first quarter. BlackRock Inc. now owns 7,779,713 shares of the business services provider’s stock worth $127,198,000 after buying an additional 3,881,373 shares in the last quarter. FMR LLC grew its holdings in shares of Evertec by 37.5% during the second quarter. FMR LLC now owns 6,727,331 shares of the business services provider’s stock worth $146,992,000 after buying an additional 1,835,720 shares in the last quarter. Copper Rock Capital Partners LLC purchased a new stake in shares of Evertec during the second quarter worth $21,616,000. Dimensional Fund Advisors LP grew its holdings in shares of Evertec by 431.6% during the first quarter. Dimensional Fund Advisors LP now owns 560,126 shares of the business services provider’s stock worth $9,158,000 after buying an additional 454,758 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Evertec by 1,053.2% during the first quarter. Principal Financial Group Inc. now owns 497,065 shares of the business services provider’s stock worth $8,127,000 after buying an additional 453,963 shares in the last quarter. 79.12% of the stock is owned by institutional investors and hedge funds.
In other Evertec news, COO Philip E. Steurer sold 10,000 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $24.39, for a total value of $243,900.00. Following the transaction, the chief operating officer now owns 123,930 shares of the company’s stock, valued at $3,022,652.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Diana I. Rivera-Ramirez sold 1,500 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $23.55, for a total transaction of $35,325.00. Following the completion of the transaction, the insider now directly owns 24,915 shares in the company, valued at approximately $586,748.25. The disclosure for this sale can be found here. Insiders sold 73,500 shares of company stock valued at $1,759,985 in the last three months. 0.76% of the stock is currently owned by insiders.
Evertec (NYSE:EVTC) last announced its quarterly earnings data on Tuesday, July 31st. The business services provider reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. Evertec had a net margin of 12.91% and a return on equity of 64.95%. The firm had revenue of $113.35 million during the quarter, compared to analyst estimates of $111.77 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Evertec’s quarterly revenue was up 9.5% on a year-over-year basis. equities research analysts anticipate that Evertec Inc will post 1.58 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Monday, August 6th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, August 3rd. Evertec’s dividend payout ratio is currently 13.61%.
A number of brokerages recently issued reports on EVTC. ValuEngine lowered shares of Evertec from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Deutsche Bank upped their price objective on shares of Evertec from $20.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. Zacks Investment Research raised shares of Evertec from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Thursday, July 26th. Morgan Stanley upped their price objective on shares of Evertec from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, August 1st. Finally, Raymond James began coverage on shares of Evertec in a report on Friday, June 15th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $21.33.
Evertec Company Profile
EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.
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