155,750 Shares in Evertec, Inc. $EVTC Acquired by Legal & General Group Plc

Key Points

• Legal & General Group Plc acquired 155,750 Evertec shares worth approximately $4.3 million, giving it a 0.26% stake. Institutional investors collectively own 96.8% of EVTC.
• Evertec reported stronger-than-expected quarterly results, with EPS of $1.05 versus the $0.95 consensus estimate and revenue of $274.8 million, up 19.7% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $35, while Evertec’s shares recently traded at $30.44; the company also pays a quarterly dividend of $0.05.

Legal & General Group Plc purchased a new stake in Evertec, Inc. (NYSE:EVTC - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 155,750 shares of the business services provider's stock, valued at approximately $4,327,000. Legal & General Group Plc owned about 0.26% of Evertec as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Lido Advisors LLC lifted its stake in shares of Evertec by 4.3% in the 3rd quarter. Lido Advisors LLC now owns 8,746 shares of the business services provider's stock valued at $295,000 after purchasing an additional 363 shares in the last quarter. ProShare Advisors LLC increased its position in Evertec by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 12,510 shares of the business services provider's stock worth $364,000 after purchasing an additional 391 shares in the last quarter. California State Teachers Retirement System raised its holdings in Evertec by 0.7% in the second quarter. California State Teachers Retirement System now owns 59,159 shares of the business services provider's stock valued at $2,133,000 after buying an additional 417 shares during the period. Cetera Investment Advisers raised its holdings in Evertec by 3.6% in the fourth quarter. Cetera Investment Advisers now owns 12,313 shares of the business services provider's stock valued at $358,000 after buying an additional 433 shares during the period. Finally, Royal Bank of Canada lifted its position in Evertec by 1.4% during the first quarter. Royal Bank of Canada now owns 34,824 shares of the business services provider's stock valued at $983,000 after buying an additional 479 shares in the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

Evertec Stock Down 0.4%

Shares of Evertec stock opened at $30.44 on Friday. Evertec, Inc. has a 12-month low of $21.81 and a 12-month high of $35.01. The stock has a 50 day moving average price of $29.99 and a two-hundred day moving average price of $28.00. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $1.82 billion, a P/E ratio of 19.77, a PEG ratio of 0.87 and a beta of 0.69.

Evertec (NYSE:EVTC - Get Free Report) last released its earnings results on Tuesday, August 4th. The business services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.10. Evertec had a return on equity of 32.07% and a net margin of 9.80%.The firm had revenue of $274.82 million for the quarter, compared to analyst estimates of $262.24 million. During the same quarter last year, the firm posted $0.89 EPS. The company's revenue was up 19.7% on a year-over-year basis. Evertec has set its FY 2026 guidance at 3.940-4.040 EPS. Equities analysts expect that Evertec, Inc. will post 3.53 earnings per share for the current year.

Evertec Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Monday, August 3rd were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, August 3rd. Evertec's dividend payout ratio (DPR) is 12.99%.

Analysts Set New Price Targets

EVTC has been the subject of several analyst reports. Morgan Stanley set a $34.00 target price on Evertec in a research report on Thursday, August 6th. Wall Street Zen raised shares of Evertec from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of Evertec from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 25th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Evertec presently has a consensus rating of "Hold" and an average target price of $35.00.

Insiders Place Their Bets

In other news, EVP Paola Perez-Surillo sold 17,486 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $31.56, for a total transaction of $551,858.16. Following the completion of the transaction, the executive vice president directly owned 46,421 shares of the company's stock, valued at approximately $1,465,046.76. This trade represents a 27.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Aldo J. Polak sold 1,000 shares of Evertec stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $30.09, for a total transaction of $30,090.00. Following the sale, the director owned 15,943 shares in the company, valued at approximately $479,724.87. This trade represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,486 shares of company stock worth $611,448 over the last 90 days. Corporate insiders own 1.13% of the company's stock.

About Evertec

Evertec, Inc NYSE: EVTC is a leading full‐service transaction processor in Puerto Rico, Latin America and the Caribbean. The company delivers integrated technology solutions for electronic payments, providing financial institutions, merchants and governments with secure and scalable platforms to accept, process and settle transactions across card, ATM, debit and digital channels. Headquartered in San Juan, Puerto Rico, Evertec supports both domestic and cross‐border payment flows, enabling clients to streamline operations and expand their digital commerce capabilities.

Evertec's suite of services includes merchant acquiring, payment gateway connectivity, ATM and point‐of‐sale network management, and fraud prevention solutions.

Want to see what other hedge funds are holding EVTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Evertec, Inc. (NYSE:EVTC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.