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

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

EVERTEC Price Performance

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

EVERTEC (NYSE:EVTC) last released its earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share 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 the consensus estimate of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. Research analysts expect that EVERTEC will post 2.55 EPS for the current year.

EVERTEC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. EVERTEC’s dividend payout ratio (DPR) is presently 15.63%.

Hedge Funds Weigh In On EVERTEC

Several hedge funds have recently made changes to their positions in EVTC. World Investment Advisors LLC purchased a new stake in EVERTEC during the third quarter valued at $594,000. Barclays PLC increased its position in EVERTEC by 385.6% during the third quarter. Barclays PLC now owns 115,398 shares of the business services provider’s stock valued at $3,910,000 after acquiring an additional 91,632 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in EVERTEC in the third quarter worth about $28,000. Main Management ETF Advisors LLC purchased a new stake in EVERTEC in the third quarter worth about $842,000. Finally, XTX Topco Ltd increased its position in EVERTEC by 13.2% in the third quarter. XTX Topco Ltd now owns 11,515 shares of the business services provider’s stock worth $390,000 after buying an additional 1,343 shares in the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EVTC. Susquehanna downgraded shares of EVERTEC from a “neutral” rating to a “negative” rating and lowered their target price for the stock from $38.00 to $28.00 in a report on Thursday, September 5th. Morgan Stanley raised shares of EVERTEC from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $33.00 to $35.00 in a research report on Thursday, November 21st.

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.