Evertec, Inc. $EVTC Shares Purchased by Invenomic Capital Management LP

Key Points

• Invenomic Capital Management LP increased its stake in Evertec by 5.3%, now owning approximately 0.45% of the company, valued at about $10.68 million.
• Evertec recently reported earnings per share of $0.89, exceeding estimates, with revenues up 8.3% year-over-year to $229.61 million.
• The company declared a quarterly dividend of $0.05 per share, yielding 0.6%, with a payout ratio of 9.43%.

Invenomic Capital Management LP grew its position in Evertec, Inc. (NYSE:EVTC - Free Report) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 290,508 shares of the business services provider's stock after buying an additional 14,529 shares during the quarter. Invenomic Capital Management LP owned 0.45% of Evertec worth $10,682,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of 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 worth $127,737,000 after acquiring an additional 65,793 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of 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 worth $42,484,000 after acquiring an additional 33,832 shares in the last quarter. Northern Trust Corp raised its position in shares of Evertec by 7.1% in the 1st quarter. Northern Trust Corp now owns 907,660 shares of the business services provider's stock worth $33,375,000 after acquiring an additional 60,484 shares in the last quarter. North Star Asset Management Inc. grew its position in shares of 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 worth $29,998,000 after buying an additional 21,645 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Evertec by 41.6% in the 4th quarter. Ameriprise Financial Inc. now owns 568,797 shares of the business services provider's stock worth $19,641,000 after buying an additional 166,997 shares during the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related 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 sale, the director directly owned 11,946 shares of the company's stock, valued at $426,711.12. This trade represents a 15.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.63% of the company's stock.

Evertec Stock Performance

Shares of NYSE:EVTC traded down $0.68 during trading on Wednesday, hitting $33.45. The stock had a trading volume of 41,623 shares, compared to its average volume of 316,097. 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 12-month low of $31.41 and a 12-month high of $38.56. The stock has a 50-day simple moving average of $35.23 and a two-hundred day simple moving average of $35.53. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 1.68 and a beta of 0.93.

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

Evertec Dividend Announcement

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

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.