Prudential Financial Inc. Buys 23,590 Shares of Evertec, Inc. $EVTC

by · The Markets Daily

Prudential Financial Inc. grew its stake in Evertec, Inc. (NYSE:EVTC – Free Report) by 38.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,747 shares of the business services provider’s stock after purchasing an additional 23,590 shares during the quarter. Prudential Financial Inc.’s holdings in Evertec were worth $3,091,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. American Century Companies Inc. grew its holdings in Evertec by 1.0% during the second quarter. American Century Companies Inc. now owns 4,558,374 shares of the business services provider’s stock worth $164,329,000 after buying an additional 46,147 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Evertec by 1.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,473,953 shares of the business services provider’s stock worth $127,737,000 after acquiring an additional 65,793 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Evertec by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,476,778 shares of the business services provider’s stock worth $53,245,000 after acquiring an additional 9,506 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Evertec by 3.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,155,394 shares of the business services provider’s stock worth $42,484,000 after acquiring an additional 33,832 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Evertec by 7.1% in the 1st quarter. Northern Trust Corp now owns 907,660 shares of the business services provider’s stock worth $33,375,000 after acquiring an additional 60,484 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Zacks Research lowered shares of Evertec from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Susquehanna decreased their price objective on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Morgan Stanley cut their target price on Evertec from $34.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 12th. Keefe, Bruyette & Woods decreased their price target on Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Evertec in a report on Monday. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Evertec has a consensus rating of “Hold” and a consensus price target of $35.80.

View Our Latest Analysis on EVTC

Evertec Trading Up 1.7%

Shares of EVTC stock opened at $29.29 on Wednesday. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 1.59. The firm has a market cap of $1.87 billion, a P/E ratio of 13.02, a PEG ratio of 1.14 and a beta of 0.89. The company has a 50 day moving average of $30.24 and a 200-day moving average of $33.66. Evertec, Inc. has a 12-month low of $26.72 and a 12-month high of $38.56.

Evertec Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 3rd will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, November 3rd. Evertec’s dividend payout ratio (DPR) is currently 8.89%.

Evertec Profile

(Free Report)

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.

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