Heartland Advisors Inc. Buys 90,000 Shares of Evertec, Inc. $EVTC

Heartland Advisors Inc. grew its holdings in Evertec, Inc. (NYSE:EVTC) by 81.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 200,000 shares of the business services provider’s stock after buying an additional 90,000 shares during the quarter. Heartland Advisors Inc. owned approximately 0.31% of Evertec worth $6,756,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of EVTC. American Century Companies Inc. boosted its position in Evertec by 1.0% during the 2nd quarter. American Century Companies Inc. now owns 4,558,374 shares of the business services provider’s stock valued at $164,329,000 after acquiring an additional 46,147 shares in the last quarter. Geode Capital Management LLC grew its stake in Evertec by 0.6% in the second quarter. Geode Capital Management LLC now owns 1,476,778 shares of the business services provider’s stock worth $53,245,000 after purchasing an additional 9,506 shares during the period. Clifford Capital Partners LLC lifted its holdings in shares of Evertec by 3.0% during the second quarter. Clifford Capital Partners LLC now owns 435,431 shares of the business services provider’s stock valued at $15,697,000 after purchasing an additional 12,880 shares during the last quarter. Boston Partners purchased a new position in Evertec during the second quarter valued at $12,995,000. Finally, Principal Financial Group Inc. boosted its holdings in Evertec by 10.9% in the third quarter. Principal Financial Group Inc. now owns 349,945 shares of the business services provider’s stock worth $11,821,000 after acquiring an additional 34,304 shares in the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EVTC. Weiss Ratings reiterated a “hold (c-)” rating on shares of Evertec in a research note on Monday, December 29th. Morgan Stanley decreased their price objective on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday, November 12th. Susquehanna cut their target price on Evertec from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Keefe, Bruyette & Woods lowered their price target on Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Finally, Zacks Research downgraded Evertec from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Three investment 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 an average rating of “Hold” and a consensus price target of $35.80.

Evertec Trading Up 0.4%

Shares of NYSE:EVTC opened at $26.36 on Tuesday. The stock’s 50-day simple moving average is $28.99 and its two-hundred day simple moving average is $31.10. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.01 and a beta of 0.86. Evertec, Inc. has a 52-week low of $25.83 and a 52-week high of $38.56. The company has a debt-to-equity ratio of 1.59, a quick ratio of 2.91 and a current ratio of 2.91.

Evertec Profile

Evertec, Inc (NYSE: EVTC) is a leading full‐service transaction processor in Puerto Rico, Latin America and the Caribbean. The company delivers integrated technology solutions for electronic payments, providing financial institutions, merchants and governments with secure and scalable platforms to accept, process and settle transactions across card, ATM, debit and digital channels. Headquartered in San Juan, Puerto Rico, Evertec supports both domestic and cross‐border payment flows, enabling clients to streamline operations and expand their digital commerce capabilities.

Evertec’s suite of services includes merchant acquiring, payment gateway connectivity, ATM and point‐of‐sale network management, and fraud prevention solutions.