Thrivent Financial for Lutherans Lowers Stake in EVERTEC, Inc. (NYSE:EVTC)

Thrivent Financial for Lutherans cut its holdings in EVERTEC, Inc. (NYSE:EVTC) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,242 shares of the business services provider’s stock after selling 3,227 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of EVERTEC worth $1,703,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Opal Wealth Advisors LLC acquired a new position in EVERTEC in the 2nd quarter valued at about $28,000. Louisiana State Employees Retirement System raised 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 worth $1,077,000 after purchasing an additional 400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of EVERTEC by 21.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,468 shares of the business services provider’s stock worth $548,000 after purchasing an additional 2,924 shares during the last quarter. F M Investments LLC purchased a new position in EVERTEC in the 2nd quarter valued at $5,672,000. Finally, nVerses Capital LLC increased its stake in EVERTEC by 68.4% in the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock valued at $106,000 after buying an additional 1,300 shares during the period. 96.80% of the stock is owned by hedge funds and other institutional investors.

EVERTEC Stock Up 0.4 %

EVTC stock opened at $36.00 on Friday. 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 company’s 50-day moving average price is $33.99 and its 200 day moving average price is $33.83. EVERTEC, Inc. has a 52 week low of $28.76 and a 52 week high of $42.21. The company has a market cap of $2.29 billion, a P/E ratio of 28.13, a P/E/G ratio of 1.63 and a beta of 1.15.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.73 by $0.13. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The business had revenue of $211.80 million for the quarter, compared to analyst estimates of $211.51 million. During the same quarter in the previous year, the company earned $0.72 EPS. The company’s quarterly revenue was up 22.3% on a year-over-year basis. On average, research analysts expect that EVERTEC, Inc. will post 2.55 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Monday, October 28th. EVERTEC’s dividend payout ratio is currently 15.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EVTC shares. Susquehanna lowered shares of EVERTEC from a “neutral” rating to a “negative” rating and dropped their price target for the stock from $38.00 to $28.00 in a research note on Thursday, September 5th. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $33.00 to $35.00 in a report on Thursday, November 21st.

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.