EVERTEC, Inc. (NYSE:EVTC) Position Reduced by Edgestream Partners L.P.

Edgestream Partners L.P. cut its holdings in shares of EVERTEC, Inc. (NYSE:EVTC - Free Report) by 48.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 125,383 shares of the business services provider's stock after selling 119,534 shares during the quarter. Edgestream Partners L.P. owned about 0.20% of EVERTEC worth $4,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in shares of EVERTEC in the second quarter worth approximately $28,000. Louisiana State Employees Retirement System grew its stake in shares of EVERTEC by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider's stock valued at $1,077,000 after buying an additional 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of EVERTEC by 21.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,468 shares of the business services provider's stock worth $548,000 after buying an additional 2,924 shares during the last quarter. F M Investments LLC purchased a new position in shares of EVERTEC in the 2nd quarter worth $5,672,000. Finally, nVerses Capital LLC boosted its holdings in EVERTEC by 68.4% in the second quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider's stock valued at $106,000 after acquiring an additional 1,300 shares during the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on EVTC shares. Susquehanna downgraded EVERTEC from a "neutral" rating to a "negative" rating and cut their price objective for the stock from $38.00 to $28.00 in a report on Thursday, September 5th. Morgan Stanley upgraded shares of 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 report on Thursday, November 21st.

EVERTEC Stock Up 0.4 %

Shares of EVTC traded up $0.15 during midday trading on Friday, reaching $36.00. 143,271 shares of the company were exchanged, 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 stock has a 50-day moving average price of $33.99 and a 200-day moving average price of $33.77. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. The company has a market cap 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 results on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the company posted $0.72 EPS. EVERTEC's revenue for the quarter was up 22.3% on a year-over-year basis. Research analysts expect that EVERTEC, Inc. will post 2.55 earnings per share for the current year.

EVERTEC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, October 28th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.56%. The ex-dividend date is Monday, October 28th. EVERTEC's dividend payout ratio (DPR) is 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.