Rivulet Capital LLC Grows Stock Position in Evertec Inc (NYSE:EVTC)

Rivulet Capital LLC grew its holdings in shares of Evertec Inc (NYSE:EVTC) by 30.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,155,260 shares of the business services provider’s stock after purchasing an additional 497,387 shares during the period. Evertec comprises about 5.6% of Rivulet Capital LLC’s portfolio, making the stock its 8th biggest position. Rivulet Capital LLC owned about 2.98% of Evertec worth $59,938,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. GAM Holding AG acquired a new stake in Evertec in the first quarter valued at $778,000. Xact Kapitalforvaltning AB acquired a new stake in Evertec in the first quarter valued at $400,000. O Shaughnessy Asset Management LLC grew its holdings in Evertec by 42.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 57,215 shares of the business services provider’s stock valued at $1,584,000 after purchasing an additional 16,964 shares during the last quarter. Alambic Investment Management L.P. acquired a new stake in shares of Evertec during the first quarter valued at $1,616,000. Finally, Martingale Asset Management L P boosted its stake in shares of Evertec by 12.4% during the first quarter. Martingale Asset Management L P now owns 326,789 shares of the business services provider’s stock valued at $9,089,000 after acquiring an additional 36,098 shares during the last quarter. Institutional investors own 77.95% of the company’s stock.

In other news, General Counsel Luis A. Rodriguez-Gonzalez sold 13,000 shares of Evertec stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $28.60, for a total value of $371,800.00. Following the completion of the transaction, the general counsel now owns 73,526 shares in the company, valued at approximately $2,102,843.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Philip E. Steurer sold 27,940 shares of Evertec stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $29.41, for a total value of $821,715.40. Following the completion of the transaction, the chief operating officer now owns 89,334 shares of the company’s stock, valued at approximately $2,627,312.94. The disclosure for this sale can be found here. 0.63% of the stock is owned by insiders.

EVTC has been the topic of a number of analyst reports. Zacks Investment Research raised Evertec from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Tuesday, May 7th. Susquehanna Bancshares started coverage on Evertec in a research note on Friday. They set a “positive” rating and a $36.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Evertec currently has a consensus rating of “Buy” and an average price target of $30.67.

Shares of Evertec stock traded up $1.45 during trading hours on Friday, reaching $32.70. The stock had a trading volume of 1,026,415 shares, compared to its average volume of 325,400. The business’s 50 day simple moving average is $29.13. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 19.24 and a beta of 0.75. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.47 and a quick ratio of 1.47. Evertec Inc has a 1 year low of $21.65 and a 1 year high of $32.87.

Evertec (NYSE:EVTC) last announced its earnings results on Wednesday, May 1st. The business services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $118.84 million for the quarter, compared to the consensus estimate of $116.82 million. Evertec had a return on equity of 61.11% and a net margin of 19.44%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. On average, equities analysts predict that Evertec Inc will post 1.76 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Monday, May 6th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.61%. Evertec’s payout ratio is currently 11.76%.

Evertec Profile

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

Read More: What is a put option?

Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

Receive News & Ratings for Evertec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evertec and related companies with MarketBeat.com's FREE daily email newsletter.