Cwm LLC Increases Holdings in EVERTEC, Inc. (NYSE:EVTC)

Cwm LLC raised its position in EVERTEC, Inc. (NYSE:EVTCGet Rating) by 269.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 910 shares of the business services provider’s stock after purchasing an additional 664 shares during the quarter. Cwm LLC’s holdings in EVERTEC were worth $29,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EVTC. Bailard Inc. bought a new position in EVERTEC in the 3rd quarter worth about $248,000. SG Americas Securities LLC boosted its stake in shares of EVERTEC by 808.4% during the second quarter. SG Americas Securities LLC now owns 31,757 shares of the business services provider’s stock valued at $1,171,000 after purchasing an additional 28,261 shares in the last quarter. Meritage Portfolio Management boosted its stake in shares of EVERTEC by 8.8% during the third quarter. Meritage Portfolio Management now owns 8,405 shares of the business services provider’s stock valued at $263,000 after purchasing an additional 681 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of EVERTEC by 138.4% during the second quarter. Lazard Asset Management LLC now owns 18,199 shares of the business services provider’s stock valued at $671,000 after purchasing an additional 10,565 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its stake in EVERTEC by 21.5% in the second quarter. WINTON GROUP Ltd now owns 43,796 shares of the business services provider’s stock valued at $1,615,000 after acquiring an additional 7,739 shares in the last quarter. 97.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of EVERTEC from $43.00 to $33.00 in a research note on Thursday, November 3rd. Raymond James decreased their price target on shares of EVERTEC from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, November 3rd. StockNews.com assumed coverage on shares of EVERTEC in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods decreased their price target on shares of EVERTEC from $46.00 to $42.00 in a report on Monday, October 10th. Finally, Morgan Stanley decreased their price target on shares of EVERTEC from $31.00 to $29.00 and set an “underweight” rating for the company in a report on Thursday, November 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, EVERTEC presently has a consensus rating of “Hold” and a consensus price target of $38.50.

EVERTEC Stock Up 1.8 %

EVTC opened at $35.94 on Friday. EVERTEC, Inc. has a fifty-two week low of $30.17 and a fifty-two week high of $46.23. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.22 and a current ratio of 2.22. The company has a fifty day moving average of $32.82 and a two-hundred day moving average of $33.94. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 9.93 and a beta of 0.96.

EVERTEC (NYSE:EVTCGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.19). EVERTEC had a net margin of 41.09% and a return on equity of 33.61%. The firm had revenue of $145.80 million during the quarter, compared to analysts’ expectations of $145.29 million. On average, research analysts expect that EVERTEC, Inc. will post 2.19 earnings per share for the current year.

EVERTEC Profile

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EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; Business Solutions, and Corporate and Other segments. 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.

See Also

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Institutional Ownership by Quarter for EVERTEC (NYSE:EVTC)

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