Loomis Sayles & Co. L P Trims Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Loomis Sayles & Co. L P lessened its holdings in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,282,462 shares of the business services provider's stock after selling 29,533 shares during the period. Loomis Sayles & Co. L P owned approximately 2.02% of EVERTEC worth $43,462,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in EVERTEC during the second quarter worth about $28,000. Northwestern Mutual Wealth Management Co. increased its holdings in EVERTEC by 866.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider's stock valued at $81,000 after purchasing an additional 2,175 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in EVERTEC by 90.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider's stock valued at $104,000 after purchasing an additional 1,490 shares during the period. nVerses Capital LLC lifted its stake in EVERTEC by 68.4% during the second quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider's stock worth $106,000 after purchasing an additional 1,300 shares in the last quarter. Finally, EMC Capital Management purchased a new position in shares of EVERTEC during the first quarter worth $243,000. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley raised EVERTEC from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $33.00 to $35.00 in a research note on Thursday, November 21st. Susquehanna downgraded shares of 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.

Insiders Place Their Bets

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $34.11, for a total value of $1,364,400.00. Following the transaction, the executive vice president now directly owns 129,928 shares of the company's stock, valued at $4,431,844.08. This trade represents a 23.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.83% of the stock is owned by company insiders.

EVERTEC Stock Down 2.9 %

EVTC stock traded down $1.07 during mid-day trading on Tuesday, reaching $35.73. The company had a trading volume of 245,641 shares, compared to its average volume of 393,589. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $42.21. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 1.65 and a beta of 1.15. 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 firm has a fifty day simple moving average of $33.82 and a 200 day simple moving average of $33.82.

EVERTEC (NYSE:EVTC - Get Free Report) last issued its earnings results 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 net margin of 10.20% and a return on equity of 33.01%. The firm had revenue of $211.80 million for the quarter, compared to analysts' expectations of $211.51 million. During the same quarter last year, the company earned $0.72 earnings per share. The firm's revenue was up 22.3% compared to the same quarter last year. Analysts forecast that EVERTEC, Inc. will post 2.55 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Monday, October 28th. EVERTEC's dividend payout ratio (DPR) is presently 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.