16,978 Shares in Evertec Inc (EVTC) Purchased by Ramsey Quantitative Systems

Ramsey Quantitative Systems acquired a new stake in shares of Evertec Inc (NYSE:EVTC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,978 shares of the business services provider’s stock, valued at approximately $409,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EVTC. Summit Trail Advisors LLC raised its holdings in Evertec by 11,437.9% during the first quarter. Summit Trail Advisors LLC now owns 154,838 shares of the business services provider’s stock valued at $155,000 after buying an additional 153,496 shares in the last quarter. Profund Advisors LLC bought a new position in Evertec during the first quarter valued at about $181,000. First Hawaiian Bank bought a new position in Evertec during the third quarter valued at about $191,000. United Services Automobile Association bought a new position in Evertec during the second quarter valued at about $207,000. Finally, Amalgamated Bank bought a new position in Evertec during the second quarter valued at about $213,000. 79.11% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Miguel Vizcarrondo sold 20,000 shares of Evertec stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $24.31, for a total transaction of $486,200.00. Following the sale, the insider now directly owns 195,887 shares of the company’s stock, valued at $4,762,012.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Diana I. Rivera-Ramirez sold 1,500 shares of Evertec stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $23.55, for a total value of $35,325.00. Following the sale, the insider now directly owns 24,915 shares in the company, valued at $586,748.25. The disclosure for this sale can be found here. Insiders sold 73,500 shares of company stock worth $1,759,985 over the last quarter. 0.76% of the stock is currently owned by corporate insiders.

EVTC has been the topic of several recent research reports. ValuEngine upgraded Evertec from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Morgan Stanley raised their target price on Evertec from $19.00 to $23.00 and gave the company a “$22.95” rating in a report on Thursday, July 19th. Zacks Investment Research upgraded Evertec from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Thursday, July 26th. Finally, Deutsche Bank raised their target price on Evertec from $20.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $21.33.

Shares of Evertec stock traded up $0.05 during trading on Wednesday, reaching $24.92. The company’s stock had a trading volume of 360,300 shares, compared to its average volume of 720,671. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $1.75 billion, a PE ratio of 16.78 and a beta of 1.27. Evertec Inc has a one year low of $12.60 and a one year high of $25.55.

Evertec (NYSE:EVTC) last posted its quarterly earnings data on Tuesday, July 31st. The business services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $113.35 million for the quarter, compared to analyst estimates of $111.77 million. Evertec had a return on equity of 64.95% and a net margin of 12.91%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. Research analysts forecast that Evertec Inc will post 1.58 earnings per share for the current year.

About Evertec

EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.

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Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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