Investment Firm Lowers Holdings in EVERTEC, Inc. (NYSE:EVTC) – Market Update

Title: EVERTEC, Inc. (NYSE:EVTC) Sees Changes in Institutional Holdings and Positive Trading Trend

In a recent report by Holdings Channel.com, Oppenheimer Asset Management Inc. has decreased its holdings in EVERTEC, Inc. (NYSE:EVTC) by 12.0% in the 1st quarter. The fund now owns 9,182 shares of the business services provider’s stock, worth $366,000. This change in holdings is part of a larger trend, with several other large investors also adjusting their positions in EVERTEC.

Vanguard Group Inc., Dimensional Fund Advisors LP, Victory Capital Management Inc., Sunriver Management LLC, and Charles Schwab Investment Management Inc. have all made modifications to their holdings in EVERTEC, with institutional investors now owning 96.80% of the company’s stock.

On the trading front, EVERTEC (NYSE:EVTC) saw a 1.5% increase in its stock price, opening at $34.71 on Thursday. The company has a market capitalization of $2.24 billion and a positive earnings report, beating analysts’ estimates with $0.63 EPS for the quarter.

Wall Street analysts are forecasting growth for EVERTEC, with Keefe, Bruyette & Woods setting an “outperform” rating and a target price of $42.00 for the stock. The company has an average rating of “Hold” and a consensus price target of $41.50.

EVERTEC, Inc. operates in transaction processing and financial technology in Latin America and the Caribbean, providing services for electronic payment methods. Investors can track the latest 13F filings and insider trades for EVERTEC on HoldingsChannel.com.

Overall, EVERTEC is showing positive momentum in both institutional holdings and trading trends, making it a stock to watch in the coming months.