Loomis Sayles & Co. L P Has $42.96 Million Stake in Evertec, Inc. $EVTC

Loomis Sayles & Co. L P cut its stake in shares of Evertec, Inc. (NYSE:EVTC) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,191,561 shares of the business services provider’s stock after selling 28,736 shares during the quarter. Loomis Sayles & Co. L P owned approximately 1.86% of Evertec worth $42,956,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. USA Financial Formulas bought a new position in shares of Evertec during the second quarter worth about $26,000. Parkside Financial Bank & Trust raised its holdings in Evertec by 479.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,355 shares of the business services provider’s stock worth $49,000 after purchasing an additional 1,121 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Evertec by 28.6% in the 2nd quarter. Blue Trust Inc. now owns 1,958 shares of the business services provider’s stock worth $71,000 after purchasing an additional 436 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Evertec during the first quarter worth $80,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Evertec during the first quarter worth $211,000. Institutional investors own 96.80% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on EVTC. Susquehanna dropped their target price on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Evertec in a research note on Monday. Zacks Research lowered Evertec from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Keefe, Bruyette & Woods lowered their target price on Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Finally, Morgan Stanley dropped their price target 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. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Evertec currently has an average rating of “Hold” and an average target price of $35.80.

Evertec Stock Down 1.0%

Evertec stock opened at $28.90 on Friday. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 1.43 and a beta of 0.91. The firm’s fifty day moving average price is $30.43 and its two-hundred day moving average price is $33.82. Evertec, Inc. has a 1-year low of $26.72 and a 1-year high of $38.56. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 1.49.

Evertec Announces Dividend

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

Evertec Company 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.