Evertec, Inc. $EVTC Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC reduced its stake in Evertec, Inc. by 45.3% during the first quarter, resulting in ownership of 53,203 shares worth approximately $1.96 million.
• Several large investors modified their holdings in Evertec, including Nuveen LLC purchasing a new stake valued at around $7.2 million.
• Evertec recently declared a quarterly dividend of $0.05, scheduled to be paid on September 5th, representing an annualized yield of 0.6%.

Algert Global LLC decreased its holdings in shares of Evertec, Inc. (NYSE:EVTC - Free Report) by 45.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,203 shares of the business services provider's stock after selling 43,980 shares during the quarter. Algert Global LLC owned about 0.08% of Evertec worth $1,956,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in shares of Evertec by 2.3% during the first quarter. Principal Financial Group Inc. now owns 317,649 shares of the business services provider's stock worth $11,680,000 after purchasing an additional 7,125 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Evertec by 55.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,180 shares of the business services provider's stock worth $414,000 after purchasing an additional 3,980 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Evertec by 4,773.8% during the first quarter. GAMMA Investing LLC now owns 14,524 shares of the business services provider's stock worth $534,000 after purchasing an additional 14,226 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Evertec by 44.7% during the first quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock worth $62,000 after purchasing an additional 525 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Evertec by 39.2% in the 1st quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock worth $56,000 after buying an additional 429 shares during the period. Institutional investors and hedge funds own 96.80% of the company's stock.

Evertec Stock Up 0.7%

NYSE:EVTC traded up $0.27 during mid-day trading on Wednesday, hitting $36.44. The company had a trading volume of 255,791 shares, compared to its average volume of 351,777. The business has a fifty day simple moving average of $35.46 and a 200-day simple moving average of $35.44. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 1.49. Evertec, Inc. has a 1 year low of $31.11 and a 1 year high of $38.56. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.77 and a beta of 0.96.

Evertec (NYSE:EVTC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The business services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.03. The company had revenue of $229.61 million during the quarter, compared to the consensus estimate of $222.23 million. Evertec had a return on equity of 36.67% and a net margin of 15.56%.The company's revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $0.83 earnings per share. Evertec has set its FY 2025 guidance at 3.440-3.520 EPS. Equities analysts forecast that Evertec, Inc. will post 2.63 earnings per share for the current fiscal year.

Evertec Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Monday, August 4th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, August 4th. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. Evertec's dividend payout ratio (DPR) is currently 9.43%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $43.00 target price (up from $42.00) on shares of Evertec in a research report on Thursday, July 31st. Keefe, Bruyette & Woods increased their target price on Evertec from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Susquehanna set a $39.00 target price on Evertec and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft assumed coverage on Evertec in a research report on Thursday, July 17th. They issued a "hold" rating and a $35.00 target price on the stock. Finally, Morgan Stanley cut their target price on Evertec from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $39.00.

Insider Buying and Selling at Evertec

In other news, Director Aldo J. Polak sold 2,243 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $35.72, for a total transaction of $80,119.96. Following the completion of the sale, the director directly owned 11,946 shares in the company, valued at $426,711.12. This trade represents a 15.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is owned by corporate insiders.

Evertec Company Profile

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services - Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.