UBS Asset Management Americas Inc. Boosts Position in Evertec Inc (NYSE:EVTC)

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UBS Asset Management Americas Inc. increased its stake in Evertec Inc (NYSE:EVTC) by 30.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,792 shares of the business services provider’s stock after buying an additional 13,495 shares during the period. UBS Asset Management Americas Inc. owned 0.08% of Evertec worth $1,890,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Evertec by 1.8% during the 2nd quarter. BlackRock Inc. now owns 8,928,308 shares of the business services provider’s stock worth $291,955,000 after acquiring an additional 158,378 shares in the last quarter. Man Group plc grew its holdings in Evertec by 3.9% during the 2nd quarter. Man Group plc now owns 1,731,610 shares of the business services provider’s stock worth $56,624,000 after acquiring an additional 65,112 shares in the last quarter. Bank of Montreal Can grew its holdings in Evertec by 2.0% during the 2nd quarter. Bank of Montreal Can now owns 1,463,961 shares of the business services provider’s stock worth $47,873,000 after acquiring an additional 29,062 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Evertec by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,269,608 shares of the business services provider’s stock worth $41,517,000 after acquiring an additional 51,776 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Evertec by 6.3% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,006,339 shares of the business services provider’s stock worth $32,906,000 after acquiring an additional 60,000 shares in the last quarter. 79.49% of the stock is currently owned by institutional investors.

Several brokerages have issued reports on EVTC. Susquehanna Bancshares began coverage on shares of Evertec in a report on Friday, June 28th. They set a “positive” rating and a $36.00 target price on the stock. Zacks Investment Research cut shares of Evertec from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, ValuEngine cut shares of Evertec from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $35.50.

NYSE:EVTC opened at $31.58 on Friday. Evertec Inc has a fifty-two week low of $22.41 and a fifty-two week high of $37.38. The stock has a market capitalization of $2.27 billion, a P/E ratio of 18.58 and a beta of 0.74. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.80 and a current ratio of 1.80. The company’s 50-day simple moving average is $33.06 and its 200-day simple moving average is $31.34.

Evertec (NYSE:EVTC) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.07. Evertec had a net margin of 20.55% and a return on equity of 60.49%. The business had revenue of $122.55 million for the quarter, compared to analysts’ expectations of $117.13 million. During the same period last year, the business earned $0.46 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. On average, research analysts forecast that Evertec Inc will post 1.81 EPS for the current year.

Evertec Company Profile

EVERTEC, Inc engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates in 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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