Evertec Inc (NYSE:EVTC) Short Interest Update

Evertec Inc (NYSE:EVTC) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 1,114,200 shares, a decrease of 16.4% from the June 30th total of 1,332,500 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average trading volume of 373,900 shares, the days-to-cover ratio is currently 3.0 days.

Shares of NYSE:EVTC traded up $1.08 during trading hours on Thursday, hitting $35.24. The stock had a trading volume of 493,704 shares, compared to its average volume of 449,326. The stock’s fifty day simple moving average is $33.26 and its 200 day simple moving average is $30.02. Evertec has a 1-year low of $22.41 and a 1-year high of $37.38. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 20.73 and a beta of 0.80. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.80 and a current ratio of 1.80.

Evertec (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.44 by $0.07. Evertec had a net margin of 20.55% and a return on equity of 60.49%. The company had revenue of $122.55 million for the quarter, compared to analyst estimates of $117.13 million. During the same quarter last year, the business earned $0.46 earnings per share. Evertec’s revenue was up 8.1% compared to the same quarter last year. As a group, research analysts anticipate that Evertec will post 1.81 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Monday, August 5th will be paid a $0.05 dividend. The ex-dividend date is Friday, August 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.57%. Evertec’s payout ratio is currently 11.76%.

In related news, General Counsel Luis A. Rodriguez-Gonzalez sold 13,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $28.60, for a total transaction of $371,800.00. Following the sale, the general counsel now owns 73,526 shares in the company, valued at $2,102,843.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.63% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. US Bancorp DE increased its stake in shares of Evertec by 2,259.6% in the second quarter. US Bancorp DE now owns 1,345 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 1,288 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Evertec in the first quarter valued at approximately $83,000. Point72 Asset Management L.P. bought a new position in shares of Evertec in the second quarter valued at approximately $92,000. Quantamental Technologies LLC boosted its holdings in shares of Evertec by 250.0% in the first quarter. Quantamental Technologies LLC now owns 5,600 shares of the business services provider’s stock valued at $156,000 after acquiring an additional 4,000 shares in the last quarter. Finally, USA Financial Portformulas Corp boosted its holdings in shares of Evertec by 8.1% in the second quarter. USA Financial Portformulas Corp now owns 6,696 shares of the business services provider’s stock valued at $186,000 after acquiring an additional 501 shares in the last quarter. Institutional investors own 79.00% of the company’s stock.

Several equities research analysts recently weighed in on EVTC shares. Zacks Investment Research upgraded shares of Evertec from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Monday, August 5th. Susquehanna Bancshares started coverage on shares of Evertec in a research note on Friday, June 28th. They set a “positive” rating and a $36.00 price objective on the stock.

About Evertec

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

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