Loomis Sayles & Co. L P Sells 29,533 Shares of EVERTEC, Inc. (NYSE:EVTC)

Loomis Sayles & Co. L P trimmed its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,282,462 shares of the business services provider’s stock after selling 29,533 shares during the quarter. Loomis Sayles & Co. L P owned 2.02% of EVERTEC worth $43,462,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on EVTC. Susquehanna downgraded EVERTEC from a “neutral” rating to a “negative” rating and cut their price objective for the company from $38.00 to $28.00 in a research report on Thursday, September 5th. Morgan Stanley upgraded shares of EVERTEC from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $33.00 to $35.00 in a report on Thursday, November 21st.

Insiders Place Their Bets

In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were 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 in the company, valued at approximately $4,431,844.08. The trade was a 23.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.83% of the stock is owned by company insiders.

EVERTEC Price Performance

Shares of EVTC stock 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 company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. The stock has a fifty day simple moving average of $33.76 and a two-hundred day simple moving average of $33.82. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 28.77, a P/E/G ratio of 1.65 and a beta of 1.15.

EVERTEC (NYSE:EVTC) last released its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 earnings per share 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 analyst estimates of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. On average, analysts predict that EVERTEC, Inc. will post 2.55 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors 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 yield of 0.54%. The ex-dividend date of this dividend is Monday, October 28th. EVERTEC’s dividend payout ratio (DPR) is 15.63%.

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.