Robeco Institutional Asset Management B.V. Purchases New Stake in Evertec, Inc. (EVTC)

Robeco Institutional Asset Management B.V. purchased a new stake in shares of Evertec, Inc. (NYSE:EVTC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 39,706 shares of the business services provider’s stock, valued at approximately $629,000. Robeco Institutional Asset Management B.V. owned 0.05% of Evertec as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. grew its holdings in shares of Evertec by 0.7% in the 2nd quarter. Bessemer Group Inc. now owns 86,700 shares of the business services provider’s stock worth $1,500,000 after acquiring an additional 600 shares during the last quarter. American International Group Inc. grew its holdings in shares of Evertec by 7.0% in the 1st quarter. American International Group Inc. now owns 39,121 shares of the business services provider’s stock worth $622,000 after acquiring an additional 2,573 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Evertec by 7.5% in the 1st quarter. Principal Financial Group Inc. now owns 38,689 shares of the business services provider’s stock worth $615,000 after acquiring an additional 2,699 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Evertec by 2.0% in the 2nd quarter. California Public Employees Retirement System now owns 135,800 shares of the business services provider’s stock worth $2,349,000 after acquiring an additional 2,700 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Evertec by 0.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 409,917 shares of the business services provider’s stock worth $7,091,000 after acquiring an additional 3,198 shares during the last quarter. Institutional investors own 78.28% of the company’s stock.

A number of brokerages recently issued reports on EVTC. BidaskClub upgraded Evertec from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research cut Evertec from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. ValuEngine raised Evertec from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Cowen and Company reaffirmed a “hold” rating and issued a $20.00 target price on shares of Evertec in a research report on Thursday, October 12th. Finally, Morgan Stanley decreased their target price on Evertec from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $18.40.

Evertec (NYSE:EVTC) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.02. Evertec had a net margin of 19.64% and a return on equity of 107.21%. The business had revenue of $103.51 million during the quarter, compared to analysts’ expectations of $100.21 million. During the same quarter in the prior year, the company earned $0.43 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis.

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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.

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Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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