Evertec (NYSE:EVTC) Stock Price Up 0.9%

Shares of Evertec Inc (NYSE:EVTC) rose 0.9% during trading on Wednesday . The company traded as high as $21.83 and last traded at $22.03, approximately 9,610 shares changed hands during trading. A decline of 99% from the average daily volume of 698,869 shares. The stock had previously closed at $21.83.

Separately, Zacks Investment Research cut shares of Evertec from a “hold” rating to a “strong sell” rating in a research report on Friday, February 28th.

The company has a debt-to-equity ratio of 1.97, a current ratio of 1.91 and a quick ratio of 1.91. The stock’s 50-day simple moving average is $29.42 and its 200 day simple moving average is $31.73. The stock has a market capitalization of $1.62 billion, a P/E ratio of 16.23 and a beta of 0.80.

Evertec (NYSE:EVTC) last released its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. Evertec had a net margin of 21.23% and a return on equity of 54.99%. The firm had revenue of $127.19 million during the quarter, compared to analysts’ expectations of $121.69 million. During the same period in the previous year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts expect that Evertec Inc will post 1.88 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $0.20 dividend on an annualized basis and a yield of 0.87%. Evertec’s dividend payout ratio (DPR) is 11.05%.

Hedge funds have recently added to or reduced their stakes in the business. FIL Ltd bought a new position in Evertec during the fourth quarter worth $34,000. Nisa Investment Advisors LLC boosted its position in shares of Evertec by 86.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,080 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 500 shares during the period. Advisory Services Network LLC bought a new stake in shares of Evertec in the fourth quarter valued at about $42,000. Point72 Hong Kong Ltd bought a new stake in shares of Evertec in the fourth quarter valued at about $49,000. Finally, Advisor Group Inc. boosted its position in shares of Evertec by 59.4% in the fourth quarter. Advisor Group Inc. now owns 3,492 shares of the business services provider’s stock valued at $118,000 after acquiring an additional 1,301 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

About Evertec (NYSE:EVTC)

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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