Intech Investment Management LLC Invests $617,000 in EVERTEC, Inc. (NYSE:EVTC)

Intech Investment Management LLC bought a new position in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 18,210 shares of the business services provider's stock, valued at approximately $617,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in EVERTEC in the 2nd quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. increased its position in shares of EVERTEC by 866.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider's stock valued at $81,000 after buying an additional 2,175 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of EVERTEC by 90.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider's stock worth $104,000 after buying an additional 1,490 shares during the last quarter. nVerses Capital LLC boosted its position in shares of EVERTEC by 68.4% in the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider's stock worth $106,000 after buying an additional 1,300 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in EVERTEC in the 2nd quarter valued at about $219,000. 96.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on EVTC shares. Morgan Stanley raised shares of EVERTEC from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $33.00 to $35.00 in a report on Thursday, November 21st. Susquehanna lowered EVERTEC from a "neutral" rating to a "negative" rating and reduced their target price for the company from $38.00 to $28.00 in a research note on Thursday, September 5th.

EVERTEC Trading Up 0.4 %

EVERTEC stock traded up $0.15 during trading on Friday, hitting $36.00. The company's stock had a trading volume of 143,271 shares, compared to its average volume of 340,145. EVERTEC, Inc. has a 1-year low of $28.76 and a 1-year high of $42.21. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. The stock's fifty day moving average is $33.99 and its 200 day moving average is $33.80. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 1.64 and a beta of 1.15.

EVERTEC (NYSE:EVTC - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.13. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The company had revenue of $211.80 million during the quarter, compared to analyst estimates of $211.51 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. The business's quarterly revenue was up 22.3% compared to the same quarter last year. As a group, equities research analysts predict that EVERTEC, Inc. will post 2.55 EPS for the current year.

EVERTEC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, October 28th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Monday, October 28th. EVERTEC's dividend payout ratio is currently 15.63%.

About EVERTEC

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.