Marshall Wace LLP Invests $4.64 Million in EVERTEC, Inc. (NYSE:EVTC)

Marshall Wace LLP acquired a new stake in EVERTEC, Inc. (NYSE:EVTC – Get Rating) in the third quarter, Holdings Channel.com reports. The firm acquired 147,926 shares of the business services provider’s stock, valued at approximately $4,640,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of EVTC. Wipfli Financial Advisors LLC bought a new position in EVERTEC in the 3rd quarter valued at $27,000. CWM LLC boosted 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 buying an additional 664 shares during the period. Bessemer Group Inc. grew its position in EVERTEC by 897.9% during the third quarter. Bessemer Group Inc. now owns 968 shares of the business services provider’s stock worth $30,000 after buying an additional 871 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of EVERTEC during the 1st quarter valued at about $154,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in EVERTEC in the third quarter valued at approximately $138,000. Institutional investors own 97.74% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on EVTC. TheStreet raised shares of EVERTEC from a “c+” rating to a “b” rating in a research note on Tuesday, January 31st. Raymond James raised their target price on shares of EVERTEC from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, February 23rd.

EVERTEC Trading Down 4.7 %

EVTC opened at $32.36 on Tuesday. EVERTEC, Inc. has a one year low of $30.17 and a one year high of $42.94. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.87 and a quick ratio of 1.87. The business has a 50 day simple moving average of $35.63 and a two-hundred day simple moving average of $33.86. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 9.25 and a beta of 0.98.

EVERTEC (NYSE:EVTC – Get Rating) last announced its 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). The business had revenue of $161.79 million for the quarter, compared to the consensus estimate of $154.51 million. EVERTEC had a net margin of 38.65% and a return on equity of 31.29%. Analysts predict that EVERTEC, Inc. will post 2.34 EPS for the current year.

EVERTEC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Tuesday, February 28th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, February 27th. EVERTEC’s payout ratio is 5.71%.

EVERTEC Company Profile

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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.