Penserra Capital Management LLC Sells 17,533 Shares of EVERTEC, Inc. (NYSE:EVTC)

Penserra Capital Management LLC cut its holdings in EVERTEC, Inc. (NYSE:EVTC) by 21.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,596 shares of the business services provider’s stock after selling 17,533 shares during the period. Penserra Capital Management LLC owned approximately 0.10% of EVERTEC worth $2,155,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of EVTC. Bank of Montreal Can grew its holdings in EVERTEC by 1.1% during the second quarter. Bank of Montreal Can now owns 35,084 shares of the business services provider’s stock valued at $1,191,000 after purchasing an additional 381 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in EVERTEC by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider’s stock worth $1,077,000 after acquiring an additional 400 shares during the period. nVerses Capital LLC lifted its position in EVERTEC by 12.5% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the business services provider’s stock worth $122,000 after acquiring an additional 400 shares during the last quarter. Arizona State Retirement System boosted its holdings in EVERTEC by 3.2% during the second quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider’s stock valued at $609,000 after acquiring an additional 561 shares during the period. Finally, Blair William & Co. IL grew its position in shares of EVERTEC by 2.2% in the second quarter. Blair William & Co. IL now owns 31,918 shares of the business services provider’s stock valued at $1,061,000 after purchasing an additional 679 shares during the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.

EVERTEC Stock Up 1.4 %

NYSE EVTC opened at $36.82 on Tuesday. EVERTEC, Inc. has a twelve month low of $28.76 and a twelve month high of $42.21. The stock has a market cap of $2.34 billion, a PE ratio of 28.77, a PEG ratio of 1.65 and a beta of 1.15. The firm has a 50-day simple moving average of $33.76 and a 200 day simple moving average of $33.82. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings data 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 the consensus estimate of $211.51 million. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The company’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the company earned $0.72 EPS. On average, research analysts forecast that EVERTEC, Inc. will post 2.55 EPS for the current year.

EVERTEC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Monday, October 28th. EVERTEC’s dividend payout ratio is 15.63%.

Insider Transactions at EVERTEC

In other news, EVP Miguel Vizcarrondo sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total value of $1,364,400.00. Following the completion of the transaction, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at approximately $4,431,844.08. This represents a 23.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $33.00 to $35.00 in a research note on Thursday, November 21st. Susquehanna downgraded shares of EVERTEC from a “neutral” rating to a “negative” rating and lowered their price objective for the stock from $38.00 to $28.00 in a research note on Thursday, September 5th.

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.