California Public Employees Retirement System increased its stake in shares of Evertec, Inc. (NYSE:EVTC) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,800 shares of the business services provider’s stock after buying an additional 2,700 shares during the quarter. California Public Employees Retirement System owned 0.19% of Evertec worth $2,349,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in EVTC. Thrivent Financial For Lutherans grew its holdings in Evertec by 1,152.5% during the second quarter. Thrivent Financial For Lutherans now owns 867,111 shares of the business services provider’s stock worth $15,001,000 after buying an additional 797,881 shares in the last quarter. Denver Investment Advisors LLC grew its holdings in Evertec by 75.8% during the second quarter. Denver Investment Advisors LLC now owns 1,264,674 shares of the business services provider’s stock worth $21,879,000 after buying an additional 545,463 shares in the last quarter. Boston Partners grew its holdings in Evertec by 31.1% during the second quarter. Boston Partners now owns 909,167 shares of the business services provider’s stock worth $15,729,000 after buying an additional 215,927 shares in the last quarter. Vanguard Group Inc. grew its holdings in Evertec by 4.4% during the first quarter. Vanguard Group Inc. now owns 5,079,500 shares of the business services provider’s stock worth $80,764,000 after buying an additional 215,429 shares in the last quarter. Finally, LSV Asset Management grew its holdings in Evertec by 1,092.8% during the second quarter. LSV Asset Management now owns 214,700 shares of the business services provider’s stock worth $3,714,000 after buying an additional 196,700 shares in the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.
Shares of Evertec, Inc. (NYSE:EVTC) opened at 14.30 on Tuesday. The company’s 50-day moving average price is $16.08 and its 200 day moving average price is $16.92. Evertec, Inc. has a one year low of $14.10 and a one year high of $19.52. The company has a market cap of $1.04 billion, a P/E ratio of 13.38 and a beta of 1.21.
Evertec (NYSE:EVTC) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.02. The business had revenue of $103.51 million during the quarter, compared to analysts’ expectations of $100.21 million. Evertec had a return on equity of 107.21% and a net margin of 19.64%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 earnings per share. On average, equities research analysts anticipate that Evertec, Inc. will post $1.59 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This piece was published by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this piece can be accessed at https://www.com-unik.info/2017/10/31/california-public-employees-retirement-system-purchases-2700-shares-of-evertec-inc-evtc.html.
Several equities research analysts recently issued reports on EVTC shares. Zacks Investment Research downgraded Evertec from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Cowen and Company reiterated a “hold” rating and set a $20.00 price target on shares of Evertec in a report on Thursday, October 12th. Stifel Nicolaus upgraded Evertec from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Thursday, September 28th. Morgan Stanley decreased their price target on Evertec from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, October 19th. Finally, BidaskClub upgraded Evertec from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Evertec presently has an average rating of “Hold” and a consensus price target of $18.40.
Evertec Company Profile
EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.
What are top analysts saying about Evertec Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Evertec Inc. and related companies.