Cubist Systematic Strategies LLC Invests $3.65 Million in Evertec, Inc. $EVTC

Key Points

• Cubist Systematic Strategies LLC acquired 99,364 shares of Evertec, Inc., valued at approximately $3.65 million, increasing its ownership to 0.16%.
• During the first quarter, multiple institutional investors significantly increased their stakes in Evertec, with TD Private Client Wealth LLC raising its holdings by 19.3%.
• Evertec recently reported a quarterly EPS of $0.89, exceeding analyst estimates, and announced a quarterly dividend of $0.05 per share, to be paid on September 5th.

Cubist Systematic Strategies LLC acquired a new stake in Evertec, Inc. (NYSE:EVTC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 99,364 shares of the business services provider's stock, valued at approximately $3,654,000. Cubist Systematic Strategies LLC owned approximately 0.16% of Evertec at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC increased its stake in Evertec by 1.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,473,953 shares of the business services provider's stock valued at $127,737,000 after purchasing an additional 65,793 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Evertec by 3.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,155,394 shares of the business services provider's stock valued at $42,484,000 after purchasing an additional 33,832 shares in the last quarter. Northern Trust Corp increased its stake in Evertec by 7.1% in the 1st quarter. Northern Trust Corp now owns 907,660 shares of the business services provider's stock valued at $33,375,000 after purchasing an additional 60,484 shares in the last quarter. North Star Asset Management Inc. increased its stake in Evertec by 2.7% in the 1st quarter. North Star Asset Management Inc. now owns 815,816 shares of the business services provider's stock valued at $29,998,000 after purchasing an additional 21,645 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Evertec by 41.6% in the 4th quarter. Ameriprise Financial Inc. now owns 568,797 shares of the business services provider's stock valued at $19,641,000 after purchasing an additional 166,997 shares in the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

Evertec Trading Down 0.6%

Shares of NYSE:EVTC traded down $0.19 during midday trading on Tuesday, reaching $34.15. The company's stock had a trading volume of 177,589 shares, compared to its average volume of 316,958. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.68 and a beta of 0.93. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.49. Evertec, Inc. has a 1 year low of $31.41 and a 1 year high of $38.56. The business has a 50 day moving average price of $35.28 and a 200 day moving average price of $35.54.

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

Evertec Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Monday, August 4th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, August 4th. Evertec's payout ratio is presently 9.43%.

Wall Street Analysts Forecast Growth

EVTC has been the subject of several research analyst reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $43.00 price objective (up from $42.00) on shares of Evertec in a research note on Thursday, July 31st. Morgan Stanley dropped their price target on Evertec from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Susquehanna set a $39.00 price target on Evertec and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Evertec in a research report on Thursday, July 17th. They set a "hold" rating and a $35.00 price target for the company. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Evertec currently has an average rating of "Moderate Buy" and an average target price of $39.00.

Insider Activity

In other news, Director Aldo J. Polak sold 2,243 shares of Evertec 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 sale, the director directly owned 11,946 shares of the company's stock, valued at approximately $426,711.12. The trade was a 15.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.63% of the company's stock.

Evertec 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.