Penserra Capital Management LLC Has $2.16 Million Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Penserra Capital Management LLC decreased its holdings in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 21.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 63,596 shares of the business services provider's stock after selling 17,533 shares during the period. Penserra Capital Management LLC owned approximately 0.10% of EVERTEC worth $2,155,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Bank of Montreal Can boosted its holdings in EVERTEC by 1.1% in the 2nd quarter. Bank of Montreal Can now owns 35,084 shares of the business services provider's stock worth $1,191,000 after acquiring an additional 381 shares during the period. Louisiana State Employees Retirement System boosted 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 purchasing an additional 400 shares during the period. nVerses Capital LLC grew its holdings in EVERTEC by 12.5% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the business services provider's stock valued at $122,000 after purchasing an additional 400 shares in the last quarter. Arizona State Retirement System grew its holdings in EVERTEC by 3.2% during the 2nd quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider's stock valued at $609,000 after purchasing an additional 561 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in EVERTEC by 2.2% during the 2nd quarter. Blair William & Co. IL now owns 31,918 shares of the business services provider's stock worth $1,061,000 after buying an additional 679 shares during the period. Hedge funds and other institutional investors own 96.80% of the company's stock.

Insiders Place Their Bets

In other 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 completion of the transaction, the executive vice president now owns 129,928 shares in the company, valued at approximately $4,431,844.08. This represents a 23.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.83% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EVTC. Susquehanna lowered shares of EVERTEC from a "neutral" rating to a "negative" rating and dropped their price target for the stock from $38.00 to $28.00 in a research note on Thursday, September 5th. Morgan Stanley raised shares of EVERTEC from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $33.00 to $35.00 in a research report on Thursday, November 21st.

EVERTEC Stock Down 2.9 %

Shares of EVTC stock traded down $1.07 on Tuesday, reaching $35.73. 245,641 shares of the company's stock traded hands, compared to its average volume of 393,589. The company has a market capitalization of $2.27 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 1.65 and a beta of 1.15. EVERTEC, Inc. has a 12-month low of $28.76 and a 12-month 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 business's 50 day moving average price is $33.82 and its two-hundred day moving average price is $33.82.

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, beating analysts' consensus estimates of $0.73 by $0.13. The firm had revenue of $211.80 million during the quarter, compared to analysts' expectations of $211.51 million. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The business's revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. On average, equities analysts forecast that EVERTEC, Inc. will post 2.55 earnings per share for the current year.

EVERTEC Announces Dividend

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