EVERTEC, Inc. (NYSE:EVTC) Short Interest Up 8.3% in July

EVERTEC, Inc. (NYSE:EVTC) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totalling 2,090,000 shares, a growth of 8.3% from the June 30th total of 1,930,000 shares. Based on an average daily volume of 489,000 shares, the days-to-cover ratio is currently 4.3 days. Approximately 3.3% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EVTC. Keefe, Bruyette & Woods lowered their target price on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Susquehanna decreased their price target on shares of EVERTEC from $41.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, EVERTEC has a consensus rating of “Hold” and an average target price of $37.67.

EVERTEC Trading Up 0.2 %

Shares of EVTC opened at $34.47 on Thursday. The stock has a market capitalization of $2.22 billion, a PE ratio of 34.80, a P/E/G ratio of 1.98 and a beta of 1.13. The company’s fifty day moving average is $33.66 and its 200 day moving average is $36.96. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.59 and a current ratio of 1.59. EVERTEC has a fifty-two week low of $28.76 and a fifty-two week high of $42.21.

EVERTEC (NYSE:EVTC) last posted its earnings results on Wednesday, May 1st. The business services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. EVERTEC had a net margin of 8.87% and a return on equity of 29.86%. The firm had revenue of $205.32 million for the quarter, compared to the consensus estimate of $200.75 million. Sell-side analysts expect that EVERTEC will post 2.38 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Monday, July 29th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, July 29th. This represents a $0.20 annualized dividend and a yield of 0.58%. EVERTEC’s payout ratio is currently 20.20%.

Institutional Investors Weigh In On EVERTEC

Several institutional investors have recently modified their holdings of EVTC. Opal Wealth Advisors LLC bought a new stake in shares of EVERTEC in the 2nd quarter worth about $28,000. Benjamin F. Edwards & Company Inc. bought a new stake in EVERTEC in the fourth quarter worth about $31,000. Principal Securities Inc. purchased a new position in shares of EVERTEC during the fourth quarter valued at approximately $36,000. nVerses Capital LLC grew its stake in shares of EVERTEC by 68.4% during the second quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock valued at $106,000 after buying an additional 1,300 shares during the last quarter. Finally, EntryPoint Capital LLC raised its holdings in shares of EVERTEC by 48.9% in the first quarter. EntryPoint Capital LLC now owns 2,761 shares of the business services provider’s stock worth $110,000 after buying an additional 907 shares during the period. 96.80% of the stock is owned by institutional investors.

About EVERTEC

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.