Wells Fargo & Company MN Sells 7,425 Shares of Evertec Inc (EVTC)

Wells Fargo & Company MN trimmed its position in Evertec Inc (NYSE:EVTC) by 7.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,908 shares of the business services provider’s stock after selling 7,425 shares during the period. Wells Fargo & Company MN owned 0.14% of Evertec worth $1,568,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. California Public Employees Retirement System grew its stake in Evertec by 2.0% in the second quarter. California Public Employees Retirement System now owns 135,800 shares of the business services provider’s stock worth $2,349,000 after purchasing an additional 2,700 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Evertec by 0.8% in the second quarter. PNC Financial Services Group Inc. now owns 409,917 shares of the business services provider’s stock worth $7,091,000 after acquiring an additional 3,198 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Evertec by 12.9% in the second quarter. Voya Investment Management LLC now owns 28,618 shares of the business services provider’s stock worth $495,000 after acquiring an additional 3,267 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Evertec by 13.9% in the second quarter. Principal Financial Group Inc. now owns 44,070 shares of the business services provider’s stock worth $762,000 after acquiring an additional 5,381 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Evertec by 497.5% in the second quarter. BNP Paribas Arbitrage SA now owns 7,062 shares of the business services provider’s stock worth $122,000 after acquiring an additional 5,880 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently commented on the company. ValuEngine cut Evertec from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. JPMorgan Chase & Co. cut Evertec from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 12th. BidaskClub cut Evertec from a “hold” rating to a “sell” rating in a research note on Thursday, September 28th. Goldman Sachs Group cut Evertec from a “neutral” rating to a “sell” rating and cut their target price for the stock from $15.00 to $12.00 in a research note on Wednesday. Finally, Stifel Nicolaus cut their target price on Evertec from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $16.67.

Shares of Evertec Inc (NYSE EVTC) opened at $14.35 on Friday. The company has a market capitalization of $1,020.70, a price-to-earnings ratio of 8.55, a PEG ratio of 2.09 and a beta of 1.14. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 4.08. Evertec Inc has a 12 month low of $12.60 and a 12 month high of $19.52.

Evertec (NYSE:EVTC) last announced its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). The business had revenue of $102.70 million for the quarter, compared to the consensus estimate of $97.11 million. Evertec had a net margin of 15.92% and a return on equity of 95.54%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. equities research analysts anticipate that Evertec Inc will post 1.35 EPS for the current year.

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Evertec Company Profile

EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.

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Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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