Lombard Odier Asset Management Europe Ltd Reduces Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Lombard Odier Asset Management Europe Ltd reduced its holdings in EVERTEC, Inc. (NYSE:EVTC) by 16.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the business services provider’s stock after selling 10,000 shares during the period. Lombard Odier Asset Management Europe Ltd owned about 0.08% of EVERTEC worth $1,662,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in EVTC. Opal Wealth Advisors LLC purchased a new stake in EVERTEC during the second quarter worth $28,000. Principal Securities Inc. purchased a new stake in EVERTEC during the fourth quarter worth $36,000. Benjamin F. Edwards & Company Inc. boosted its holdings in EVERTEC by 113.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,642 shares of the business services provider’s stock worth $65,000 after buying an additional 873 shares in the last quarter. nVerses Capital LLC raised its position in EVERTEC by 68.4% during the second quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock worth $106,000 after acquiring an additional 1,300 shares during the period. Finally, EntryPoint Capital LLC raised its position in EVERTEC by 48.9% during the first quarter. EntryPoint Capital LLC now owns 2,761 shares of the business services provider’s stock worth $110,000 after acquiring an additional 907 shares during the period. 96.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $35.10, for a total value of $1,263,600.00. Following the completion of the sale, the executive vice president now directly owns 39,370 shares in the company, valued at $1,381,887. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the sale, the executive vice president now directly owns 129,928 shares in the company, valued at $4,431,844.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $35.10, for a total transaction of $1,263,600.00. Following the sale, the executive vice president now owns 39,370 shares of the company’s stock, valued at $1,381,887. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Susquehanna cut shares of EVERTEC from a “neutral” rating to a “negative” rating and reduced their price objective for the stock from $38.00 to $28.00 in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $34.33.

EVERTEC Price Performance

Shares of NYSE EVTC opened at $33.56 on Tuesday. The firm has a 50-day simple moving average of $33.53 and a 200-day simple moving average of $35.13. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.92. EVERTEC, Inc. has a 52 week low of $28.76 and a 52 week high of $42.21.

EVERTEC (NYSE:EVTC) last issued its earnings results on Wednesday, July 31st. The business services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.19. The business had revenue of $211.98 million during the quarter, compared to analysts’ expectations of $209.40 million. EVERTEC had a net margin of 8.84% and a return on equity of 32.08%. On average, equities analysts predict that EVERTEC, Inc. will post 2.53 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, July 29th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Monday, July 29th. EVERTEC’s dividend payout ratio (DPR) is 20.20%.

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.