UBS Group AG Grows Position in EVERTEC, Inc. (NYSE:EVTC)

UBS Group AG lifted its stake in EVERTEC, Inc. (NYSE:EVTC – Get Rating) by 2.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 130,503 shares of the business services provider’s stock after buying an additional 3,483 shares during the quarter. UBS Group AG’s holdings in EVERTEC were worth $4,091,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Wipfli Financial Advisors LLC purchased a new stake in EVERTEC during the third quarter valued at $27,000. CWM LLC raised its stake in EVERTEC by 269.9% during the third quarter. CWM LLC now owns 910 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 664 shares in the last quarter. Bessemer Group Inc. raised its stake in EVERTEC by 897.9% during the third quarter. Bessemer Group Inc. now owns 968 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 871 shares in the last quarter. Nisa Investment Advisors LLC increased its position in EVERTEC by 31.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,450 shares of the business services provider’s stock valued at $90,000 after acquiring an additional 580 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in EVERTEC during the third quarter valued at $138,000. Hedge funds and other institutional investors own 97.74% of the company’s stock.

EVERTEC Trading Up 1.5 %

NYSE EVTC opened at $37.38 on Friday. The company’s 50-day moving average price is $35.00 and its 200-day moving average price is $33.79. The company has a current ratio of 1.87, a quick ratio of 2.22 and a debt-to-equity ratio of 0.82. The stock has a market cap of $2.43 billion, a PE ratio of 10.68 and a beta of 0.98. EVERTEC, Inc. has a 12 month low of $30.17 and a 12 month high of $42.94.

EVERTEC (NYSE:EVTC – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The business services provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). EVERTEC had a return on equity of 31.29% and a net margin of 38.65%. The company had revenue of $161.79 million during the quarter, compared to the consensus estimate of $154.51 million. Equities research analysts forecast that EVERTEC, Inc. will post 2.34 earnings per share for the current year.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Tuesday, February 28th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Monday, February 27th. EVERTEC’s payout ratio is 5.71%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on EVTC shares. Raymond James boosted their price objective on shares of EVERTEC from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, February 23rd. Morgan Stanley cut their price objective on shares of EVERTEC from $31.00 to $29.00 and set an “underweight” rating on the stock in a research report on Thursday, November 3rd. TheStreet upgraded shares of EVERTEC from a “c+” rating to a “b” rating in a research report on Tuesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of EVERTEC from $43.00 to $33.00 in a research report on Thursday, November 3rd.

About EVERTEC

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EVERTEC, Inc engages in the provision of transaction services. It operates through the following segments: Payment Services-Puerto Rico and Caribbean, Payment Services-Latin America, Merchant Acquiring, Business Solutions, and Corporate and Other. The Payment Services segment is involved in the authorization, processing, management and recording of automated teller machines (ATM) and point of sales transactions, and ATM management and monitoring.