Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Evertec Inc (NYSE:EVTC) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 55,900 shares of the business services provider’s stock, valued at approximately $1,221,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned about 0.08% of Evertec at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Rhumbline Advisers lifted its stake in Evertec by 138.9% in the first quarter. Rhumbline Advisers now owns 138,924 shares of the business services provider’s stock worth $2,271,000 after acquiring an additional 80,771 shares during the period. Comerica Bank purchased a new position in Evertec during the first quarter valued at $1,116,000. Trexquant Investment LP purchased a new position in Evertec during the first quarter valued at $313,000. Swiss National Bank lifted its position in Evertec by 5.4% during the first quarter. Swiss National Bank now owns 107,074 shares of the business services provider’s stock valued at $1,751,000 after buying an additional 5,500 shares during the period. Finally, Northern Trust Corp lifted its position in Evertec by 2.3% during the first quarter. Northern Trust Corp now owns 780,951 shares of the business services provider’s stock valued at $12,769,000 after buying an additional 17,555 shares during the period. Institutional investors own 79.11% of the company’s stock.

Several equities analysts have commented on EVTC shares. Deutsche Bank raised their price objective on Evertec from $20.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. Zacks Investment Research raised Evertec from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research report on Thursday, July 26th. Morgan Stanley raised their price objective on Evertec from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 1st. Raymond James started coverage on Evertec in a research report on Friday, June 15th. They set a “market perform” rating for the company. Finally, ValuEngine raised Evertec from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $21.33.

In related news, insider Miguel Vizcarrondo sold 20,000 shares of Evertec stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $24.31, for a total value of $486,200.00. Following the completion of the sale, the insider now directly owns 195,887 shares in the company, valued at approximately $4,762,012.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Diana I. Rivera-Ramirez sold 1,500 shares of Evertec stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $23.55, for a total value of $35,325.00. Following the completion of the sale, the insider now owns 24,915 shares of the company’s stock, valued at $586,748.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,500 shares of company stock valued at $1,759,985. 0.76% of the stock is owned by insiders.

Shares of EVTC traded up $0.39 during trading hours on Friday, hitting $22.93. The company had a trading volume of 402,345 shares, compared to its average volume of 725,524. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market cap of $1.75 billion, a PE ratio of 15.60 and a beta of 1.27. Evertec Inc has a 52-week low of $12.60 and a 52-week high of $25.55.

Evertec (NYSE:EVTC) last posted its quarterly earnings results on Tuesday, July 31st. The business services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. The firm had revenue of $113.35 million during the quarter, compared to analyst estimates of $111.77 million. Evertec had a return on equity of 64.95% and a net margin of 12.91%. Evertec’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. As a group, sell-side analysts anticipate that Evertec Inc will post 1.58 EPS for the current year.

Evertec Company Profile

EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.

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Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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