Fmr LLC Has $308.88 Million Stock Position in EVERTEC, Inc. (NYSE:EVTC)

FMR LLC grew its holdings in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 36.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,114,244 shares of the business services provider's stock after acquiring an additional 2,440,680 shares during the quarter. FMR LLC owned 14.33% of EVERTEC worth $308,882,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EVTC. Edgestream Partners L.P. acquired a new position in EVERTEC in the 2nd quarter valued at $8,143,000. Aptus Capital Advisors LLC grew its stake in EVERTEC by 24.8% during the second quarter. Aptus Capital Advisors LLC now owns 88,055 shares of the business services provider's stock worth $2,928,000 after buying an additional 17,475 shares in the last quarter. Sei Investments Co. increased its holdings in EVERTEC by 7.9% in the 2nd quarter. Sei Investments Co. now owns 480,616 shares of the business services provider's stock valued at $15,981,000 after buying an additional 35,118 shares during the period. Algert Global LLC lifted its holdings in shares of EVERTEC by 1,285.8% during the 3rd quarter. Algert Global LLC now owns 91,341 shares of the business services provider's stock worth $3,096,000 after acquiring an additional 84,750 shares during the period. Finally, Bridges Investment Management Inc. acquired a new stake in shares of EVERTEC during the 2nd quarter worth approximately $280,000. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EVTC shares. Susquehanna cut EVERTEC from a "neutral" rating to a "negative" rating and cut their target price for the stock from $38.00 to $28.00 in a research note on Thursday, September 5th. Morgan Stanley upgraded EVERTEC from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $33.00 to $35.00 in a research report on Thursday, November 21st.

EVERTEC Price Performance

EVERTEC stock traded up $0.15 during mid-day trading on Friday, reaching $36.00. The company had a trading volume of 143,271 shares, compared to its average volume of 340,145. The business has a fifty day simple moving average of $33.99 and a 200 day simple moving average of $33.77. The company has a market cap of $2.29 billion, a P/E ratio of 28.13, a P/E/G ratio of 1.64 and a beta of 1.15. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $42.21.

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 for the quarter, beating 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 company had revenue of $211.80 million for the quarter, compared to the consensus estimate of $211.51 million. During the same quarter last year, the business posted $0.72 EPS. EVERTEC's revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities research analysts predict that EVERTEC, Inc. will post 2.55 earnings per share for the current year.

EVERTEC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders 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 yield of 0.56%. The ex-dividend date is Monday, October 28th. EVERTEC's payout ratio is 15.63%.

EVERTEC 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.