GSA Capital Partners LLP Takes Position in Evertec, Inc. $EVTC

GSA Capital Partners LLP purchased a new position in shares of Evertec, Inc. (NYSE:EVTC) during the third quarter, Holdings Channel.com reports. The fund purchased 24,263 shares of the business services provider’s stock, valued at approximately $820,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D increased its position in Evertec by 16.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 59,415 shares of the business services provider’s stock worth $2,007,000 after buying an additional 8,607 shares during the period. Illinois Municipal Retirement Fund grew its position in shares of Evertec by 7.5% during the third quarter. Illinois Municipal Retirement Fund now owns 35,479 shares of the business services provider’s stock worth $1,198,000 after acquiring an additional 2,463 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Evertec by 1.6% in the 3rd quarter. Rhumbline Advisers now owns 177,823 shares of the business services provider’s stock worth $6,007,000 after acquiring an additional 2,797 shares during the period. Smartleaf Asset Management LLC lifted its position in Evertec by 40.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,796 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 517 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new position in Evertec during the 3rd quarter valued at about $461,000. Institutional investors and hedge funds own 96.80% of the company’s stock.

Evertec Stock Performance

EVTC opened at $27.52 on Friday. The business has a 50 day moving average price of $28.82 and a two-hundred day moving average price of $30.91. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.91 and a quick ratio of 2.91. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 1.05 and a beta of 0.86. Evertec, Inc. has a 1-year low of $25.83 and a 1-year high of $38.56.

Evertec Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Monday, March 2nd will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.20 annualized dividend and a yield of 0.7%. Evertec’s dividend payout ratio (DPR) is currently 8.89%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EVTC shares. Zacks Research lowered shares of Evertec from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Evertec in a research report on Monday, December 29th. Wall Street Zen lowered Evertec from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Susquehanna decreased their price target on Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Finally, 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. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Evertec has a consensus rating of “Hold” and a consensus target price of $35.80.

Evertec Company 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.