EVERTEC, Inc. (NYSE:EVTC) Short Interest Down 7.4% in November

EVERTEC, Inc. (NYSE:EVTC) saw a large decrease in short interest in November. As of November 15th, there was short interest totalling 2,500,000 shares, a decrease of 7.4% from the October 31st total of 2,700,000 shares. Currently, 4.0% of the company’s stock are sold short. Based on an average daily trading volume, of 387,100 shares, the short-interest ratio is presently 6.5 days.

EVERTEC Price Performance

NYSE:EVTC traded down $0.02 during trading hours on Monday, reaching $35.99. 341,893 shares of the company’s stock were exchanged, compared to its average volume of 391,661. The company has a market capitalization of $2.29 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 1.64 and a beta of 1.15. EVERTEC has a 12 month low of $28.76 and a 12 month high of $42.21. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. The business’s 50-day simple moving average is $33.99 and its two-hundred day simple moving average is $33.77.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $211.80 million during the quarter, compared to analyst estimates of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. Sell-side analysts expect that EVERTEC will post 2.55 EPS for the current fiscal year.

EVERTEC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, October 28th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. EVERTEC’s payout ratio is 15.63%.

Hedge Funds Weigh In On EVERTEC

Several large investors have recently added to or reduced their stakes in EVTC. FMR LLC lifted its stake in shares of EVERTEC by 36.6% in the third quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock worth $308,882,000 after buying an additional 2,440,680 shares in the last quarter. American Century Companies Inc. raised its position in EVERTEC by 5.0% in the second quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock worth $145,318,000 after acquiring an additional 208,183 shares during the period. State Street Corp raised its position in EVERTEC by 1.4% in the third quarter. State Street Corp now owns 2,494,349 shares of the business services provider’s stock worth $84,533,000 after acquiring an additional 34,410 shares during the period. Victory Capital Management Inc. increased its stake in shares of EVERTEC by 9.0% in the second quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider’s stock worth $76,421,000 after purchasing an additional 189,637 shares in the last quarter. Finally, River Road Asset Management LLC increased its stake in shares of EVERTEC by 0.3% in the third quarter. River Road Asset Management LLC now owns 1,966,626 shares of the business services provider’s stock worth $66,649,000 after purchasing an additional 5,899 shares in the last quarter. Institutional investors own 96.80% of the company’s stock.

Analyst Ratings Changes

EVTC has been the topic of several research analyst reports. Susquehanna downgraded EVERTEC from a “neutral” rating to a “negative” rating and dropped their price target for the company from $38.00 to $28.00 in a research note on Thursday, September 5th. Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $33.00 to $35.00 in a research note on Thursday, November 21st.

About EVERTEC

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.