Smith Group Asset Management LLC Boosts Position in EVERTEC, Inc. (NYSE:EVTC)

Smith Group Asset Management LLC raised its stake in EVERTEC, Inc. (NYSE:EVTC) by 40.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,428 shares of the business services provider’s stock after buying an additional 4,416 shares during the period. Smith Group Asset Management LLC’s holdings in EVERTEC were worth $533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. FMR LLC grew its holdings in EVERTEC by 36.6% during the 3rd quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock worth $308,882,000 after acquiring an additional 2,440,680 shares in the last quarter. State Street Corp raised its stake in EVERTEC by 1.4% in the third quarter. State Street Corp now owns 2,494,349 shares of the business services provider’s stock worth $84,533,000 after buying an additional 34,410 shares in the last quarter. River Road Asset Management LLC lifted its holdings in EVERTEC by 0.3% during the third quarter. River Road Asset Management LLC now owns 1,966,626 shares of the business services provider’s stock worth $66,649,000 after buying an additional 5,899 shares during the period. Natixis Advisors LLC boosted its position in EVERTEC by 9.9% during the 3rd quarter. Natixis Advisors LLC now owns 582,608 shares of the business services provider’s stock valued at $19,745,000 after acquiring an additional 52,586 shares in the last quarter. Finally, Clifford Capital Partners LLC raised its position in shares of EVERTEC by 20.5% in the 2nd quarter. Clifford Capital Partners LLC now owns 459,830 shares of the business services provider’s stock worth $15,289,000 after acquiring an additional 78,301 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EVTC. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $33.00 to $35.00 in a research report on Thursday, November 21st. William Blair reiterated an “outperform” rating on shares of EVERTEC in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.00.

EVERTEC Trading Down 0.9 %

EVERTEC stock opened at $32.23 on Thursday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market cap of $2.05 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. The stock has a 50-day moving average of $34.28 and a two-hundred day moving average of $33.82. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $42.21.

EVERTEC (NYSE:EVTC) last issued its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The company had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $211.51 million. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The firm’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS. On average, research analysts anticipate that EVERTEC, Inc. will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Miguel Vizcarrondo sold 8,123 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.09, for a total value of $276,913.07. Following the completion of the transaction, the executive vice president now owns 113,915 shares of the company’s stock, valued at $3,883,362.35. The trade was a 6.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daniel Brignardello sold 3,842 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $36.00, for a total value of $138,312.00. Following the sale, the executive vice president now directly owns 32,481 shares in the company, valued at approximately $1,169,316. This trade represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,308 shares of company stock valued at $2,440,112. 0.83% of the stock is owned by insiders.

EVERTEC Profile

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