EVERTEC, Inc. (NYSE:EVTC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its holdings in EVERTEC, Inc. (NYSE:EVTC) by 9.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,623 shares of the business services provider’s stock after selling 964 shares during the period. Mutual of America Capital Management LLC’s holdings in EVERTEC were worth $326,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Edgestream Partners L.P. purchased a new stake in shares of EVERTEC in the second quarter valued at $8,143,000. Aptus Capital Advisors LLC lifted its holdings in shares of EVERTEC by 24.8% in the second quarter. Aptus Capital Advisors LLC now owns 88,055 shares of the business services provider’s stock valued at $2,928,000 after purchasing an additional 17,475 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of EVERTEC by 7.9% in the second quarter. Sei Investments Co. now owns 480,616 shares of the business services provider’s stock valued at $15,981,000 after purchasing an additional 35,118 shares in the last quarter. Bridges Investment Management Inc. purchased a new stake in shares of EVERTEC in the second quarter valued at $280,000. Finally, Clifford Capital Partners LLC lifted its holdings in shares of EVERTEC by 20.5% in the second quarter. Clifford Capital Partners LLC now owns 459,830 shares of the business services provider’s stock valued at $15,289,000 after purchasing an additional 78,301 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

EVERTEC Price Performance

Shares of NYSE:EVTC opened at $35.85 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. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $42.21. The business has a fifty day simple moving average of $33.89 and a 200 day simple moving average of $33.82. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 1.67 and a beta of 1.15.

EVERTEC (NYSE:EVTC) last posted its 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. The firm had revenue of $211.80 million for the quarter, compared to the consensus estimate of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. As a group, sell-side analysts predict that EVERTEC, Inc. will post 2.55 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, October 28th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Monday, October 28th. EVERTEC’s payout ratio is 15.63%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $33.00 to $35.00 in a report on Thursday, November 21st. Susquehanna lowered EVERTEC from a “neutral” rating to a “negative” rating and cut their price objective for the stock from $38.00 to $28.00 in a report on Thursday, September 5th.

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.