Evertec Inc (EVTC) Stake Decreased by Eqis Capital Management Inc.

Eqis Capital Management Inc. cut its stake in shares of Evertec Inc (NYSE:EVTC) by 16.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,237 shares of the business services provider’s stock after selling 2,476 shares during the quarter. Eqis Capital Management Inc.’s holdings in Evertec were worth $340,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. New York State Common Retirement Fund grew its stake in shares of Evertec by 19.0% during the 4th quarter. New York State Common Retirement Fund now owns 207,125 shares of the business services provider’s stock worth $5,944,000 after purchasing an additional 33,045 shares during the period. Clearbridge Investments LLC grew its stake in shares of Evertec by 23,929.8% during the 3rd quarter. Clearbridge Investments LLC now owns 637,030 shares of the business services provider’s stock worth $15,352,000 after purchasing an additional 634,379 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Evertec by 355.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 19,883 shares of the business services provider’s stock worth $571,000 after buying an additional 15,514 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Evertec in the 4th quarter worth about $3,373,000. Finally, First Trust Advisors LP boosted its position in shares of Evertec by 421.2% in the 4th quarter. First Trust Advisors LP now owns 142,823 shares of the business services provider’s stock worth $4,099,000 after buying an additional 115,419 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research lowered shares of Evertec from a “buy” rating to a “hold” rating in a research report on Tuesday, January 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Evertec presently has an average rating of “Hold” and a consensus target price of $29.00.

Evertec stock opened at $30.45 on Thursday. Evertec Inc has a 52 week low of $17.60 and a 52 week high of $31.10. The company has a debt-to-equity ratio of 2.43, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a market capitalization of $2.20 billion, a P/E ratio of 17.51 and a beta of 0.66.

Evertec (NYSE:EVTC) last released its quarterly earnings data on Wednesday, February 20th. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. Evertec had a net margin of 19.01% and a return on equity of 64.03%. The business had revenue of $118.20 million for the quarter, compared to analyst estimates of $114.72 million. During the same period in the previous year, the firm earned $0.24 EPS. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. Analysts forecast that Evertec Inc will post 1.71 EPS for the current fiscal year.

In other Evertec news, COO Philip E. Steurer sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $26.27, for a total value of $656,750.00. Following the transaction, the chief operating officer now directly owns 152,202 shares in the company, valued at approximately $3,998,346.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Morgan M. Schuessler sold 152,221 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $27.01, for a total transaction of $4,111,489.21. Following the completion of the transaction, the chief executive officer now owns 539,102 shares in the company, valued at $14,561,145.02. The disclosure for this sale can be found here. Insiders sold a total of 191,721 shares of company stock worth $5,173,689 over the last quarter. Insiders own 0.76% of the company’s stock.

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Evertec Profile

EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.

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Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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