Invenomic Capital Management LP Has $9.53 Million Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Invenomic Capital Management LP boosted its position in EVERTEC, Inc. (NYSE:EVTC) by 48.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 275,979 shares of the business services provider’s stock after acquiring an additional 90,057 shares during the period. Invenomic Capital Management LP owned 0.43% of EVERTEC worth $9,530,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of EVERTEC by 385.6% during the 3rd quarter. Barclays PLC now owns 115,398 shares of the business services provider’s stock worth $3,910,000 after buying an additional 91,632 shares during the period. JPMorgan Chase & Co. grew its holdings in EVERTEC by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider’s stock worth $11,447,000 after acquiring an additional 33,462 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. raised its position in shares of EVERTEC by 100.0% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 40,000 shares of the business services provider’s stock valued at $1,381,000 after acquiring an additional 20,000 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of EVERTEC by 10.2% in the 4th quarter. SG Americas Securities LLC now owns 30,269 shares of the business services provider’s stock valued at $1,045,000 after purchasing an additional 2,790 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of EVERTEC by 52.1% in the 4th quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider’s stock worth $41,000 after purchasing an additional 402 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EVERTEC

In other EVERTEC news, CAO Karla Cruz sold 2,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $36.77, for a total transaction of $73,540.00. Following the sale, the chief accounting officer now directly owns 18,065 shares of the company’s stock, valued at $664,250.05. The trade was a 9.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Paola Perez-Surillo sold 14,585 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $37.15, for a total value of $541,832.75. Following the completion of the transaction, the executive vice president now owns 35,203 shares of the company’s stock, valued at $1,307,791.45. The trade was a 29.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,170 shares of company stock valued at $7,149,206 over the last three months. Company insiders own 0.63% of the company’s stock.

EVERTEC Trading Up 0.4 %

NYSE:EVTC opened at $35.64 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. The business’s 50-day simple moving average is $35.03 and its 200-day simple moving average is $34.42. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $38.32. The stock has a market capitalization of $2.28 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.06. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The firm had revenue of $228.79 million for the quarter, compared to analyst estimates of $217.97 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. Sell-side analysts expect that EVERTEC, Inc. will post 2.63 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. EVERTEC’s dividend payout ratio (DPR) is 11.56%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EVTC. Keefe, Bruyette & Woods upped their price objective on EVERTEC from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th. Raymond James lifted their price objective on shares of EVERTEC from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Susquehanna raised shares of EVERTEC from a “negative” rating to a “neutral” rating and upped their target price for the company from $28.00 to $30.00 in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, EVERTEC presently has an average rating of “Moderate Buy” and a consensus price target of $37.75.

EVERTEC Company 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.