Connor Clark & Lunn Investment Management Ltd. decreased its position in Evertec, Inc. (NYSE:EVTC) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,200 shares of the company’s stock after selling 2,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.17% of Evertec worth $2,084,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in EVTC. Vanguard Group Inc. increased its stake in Evertec by 5.6% in the second quarter. Vanguard Group Inc. now owns 4,602,128 shares of the company’s stock valued at $71,517,000 after buying an additional 243,865 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Evertec by 0.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,666,371 shares of the company’s stock valued at $27,962,000 after buying an additional 7,359 shares during the last quarter. BlackRock Fund Advisors increased its stake in Evertec by 6.9% in the third quarter. BlackRock Fund Advisors now owns 1,622,467 shares of the company’s stock valued at $27,225,000 after buying an additional 104,246 shares during the last quarter. North Star Asset Management Inc. increased its stake in Evertec by 0.6% in the third quarter. North Star Asset Management Inc. now owns 753,776 shares of the company’s stock valued at $12,648,000 after buying an additional 4,180 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in Evertec by 9.1% in the third quarter. TIAA CREF Investment Management LLC now owns 537,195 shares of the company’s stock valued at $9,014,000 after buying an additional 44,597 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.
Evertec, Inc. (NYSE:EVTC) traded down 0.87% during midday trading on Friday, reaching $17.15. The company had a trading volume of 258,522 shares. Evertec, Inc. has a 12-month low of $11.27 and a 12-month high of $18.60. The stock’s 50 day moving average is $17.51 and its 200 day moving average is $16.86. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 15.86 and a beta of 1.27.
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Several equities research analysts have recently commented on EVTC shares. Zacks Investment Research raised Evertec from a “sell” rating to a “hold” rating in a report on Tuesday, January 17th. Cowen and Company cut Evertec from an “outperform” rating to a “market perform” rating and increased their price target for the company from $18.00 to $19.00 in a research note on Monday, December 5th. Finally, Compass Point cut Evertec from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research note on Thursday, January 12th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Evertec presently has a consensus rating of “Hold” and a consensus target price of $17.80.
In other Evertec news, insider Miguel Vizcarrondo sold 30,000 shares of the business’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $17.00, for a total value of $510,000.00. Following the transaction, the insider now owns 192,600 shares of the company’s stock, valued at $3,274,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.56% of the stock is currently owned by insiders.
EVERTEC, Inc, formerly Carib Latam Holdings, Inc, is a full-service transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. It has three segments: Merchant Acquiring, Payment Processing and Business Solutions. It provides services to merchants that allow them to accept electronic methods of payment, such as debit, credit, prepaid and electronic benefit transfer cards, carrying the ATH, Visa, MasterCard, Discover and American Express brands.
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