Trading Report: The Nationwide Fund Advisors Sells shares of Evertec Inc. (EVTC)

The Nationwide Fund Advisors Sells shares of Evertec Inc. (EVTC)

Nationwide Fund Advisors lowered its position in Evertec Inc. (NYSE:EVTC) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 143,830 shares of the company’s stock after selling 1,096 shares during the period. Nationwide Fund Advisors owned approximately 0.19% of Evertec worth $2,235,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EVTC. Pacad Investment Ltd. purchased a new position in Evertec during the first quarter valued at about $157,000. Airain ltd purchased a new position in Evertec during the second quarter valued at about $234,000. GSA Capital Partners LLP purchased a new position in Evertec during the second quarter valued at about $289,000. Lucus Advisors LLC purchased a new position in Evertec during the second quarter valued at about $347,000. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in Evertec by 6.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,630 shares of the company’s stock valued at $316,000 after buying an additional 1,330 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Shares of Evertec Inc. (NYSE:EVTC) traded down 0.159% during midday trading on Wednesday, hitting $15.675. The stock had a trading volume of 66,541 shares. The company has a market cap of $1.17 billion, a P/E ratio of 13.690 and a beta of 1.12. The stock has a 50 day moving average of $16.74 and a 200-day moving average of $15.57. Evertec Inc. has a one year low of $11.27 and a one year high of $19.63.

Evertec (NYSE:EVTC) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.02. The business earned $97.70 million during the quarter, compared to the consensus estimate of $93.40 million. Evertec had a return on equity of 118.58% and a net margin of 19.59%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 earnings per share. Analysts forecast that Evertec Inc. will post $1.71 EPS for the current fiscal year.

A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Evertec from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, August 2nd. Compass Point increased their price target on Evertec from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, Deutsche Bank AG increased their price target on Evertec from $15.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $17.40.

About Evertec

EVERTEC, Inc is a service transaction processing business in Latin America. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. The Merchant Acquiring segment consists of services that allow merchants to accept electronic methods of payment. Its services include a discount fee and membership fees charged to merchants, debit network fees and rental fees from point-of-sale (POS) devices and other equipment, net of credit card interchange and assessment fees.

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