EVERTEC, Inc. (NYSE:EVTC) Shares Bought by Algert Global LLC

Algert Global LLC raised its position in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 1,285.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,341 shares of the business services provider's stock after buying an additional 84,750 shares during the period. Algert Global LLC owned about 0.14% of EVERTEC worth $3,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of EVTC. CANADA LIFE ASSURANCE Co boosted its position in shares of EVERTEC by 1.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 69,385 shares of the business services provider's stock worth $2,769,000 after buying an additional 979 shares during the period. Invenomic Capital Management LP acquired a new stake in shares of EVERTEC in the first quarter valued at $2,407,000. EMC Capital Management acquired a new stake in shares of EVERTEC in the first quarter valued at $243,000. Opal Wealth Advisors LLC acquired a new stake in shares of EVERTEC in the second quarter valued at $28,000. Finally, Louisiana State Employees Retirement System raised its stake in shares of EVERTEC by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider's stock valued at $1,077,000 after acquiring an additional 400 shares in the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of EVERTEC stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total value of $1,364,400.00. Following the sale, the executive vice president now owns 129,928 shares of the company's stock, valued at approximately $4,431,844.08. The trade was a 23.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

EVTC has been the topic of a number of analyst reports. Morgan Stanley upgraded EVERTEC from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $33.00 to $35.00 in a research note on Thursday, November 21st. Susquehanna cut EVERTEC from a "neutral" rating to a "negative" rating and cut their price target for the company from $38.00 to $28.00 in a research note on Thursday, September 5th.

EVERTEC Stock Performance

Shares of EVTC stock traded down $1.07 during mid-day trading on Tuesday, hitting $35.73. 245,641 shares of the stock were exchanged, compared to its average volume of 393,589. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. EVERTEC, Inc. has a 12-month low of $28.76 and a 12-month high of $42.21. The stock's fifty day simple moving average is $33.82 and its two-hundred day simple moving average is $33.82. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 1.65 and a beta of 1.15.

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

EVERTEC Announces Dividend

The business 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 dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Monday, October 28th. EVERTEC's dividend payout ratio is currently 15.63%.

EVERTEC Company Profile

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.