Evertec, Inc. $EVTC Shares Acquired 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 increased its stake in shares of Evertec, Inc. (NYSE:EVTC - Free Report) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 about 0.45% of Evertec worth $10,682,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Evertec by 39.2% during the 1st quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock worth $56,000 after purchasing an additional 429 shares during the period. Fifth Third Bancorp boosted its holdings in 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 buying an additional 525 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Evertec by 19.3% in the first quarter. TD Private Client Wealth LLC now owns 1,855 shares of the business services provider's stock valued at $68,000 after purchasing an additional 300 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Evertec in the first quarter valued at about $80,000. Finally, Wealth Alliance LLC purchased a new position in shares of Evertec during the first quarter valued at approximately $209,000. 96.80% of the stock is owned by hedge funds and other institutional investors.

Evertec Price Performance

Shares of NYSE:EVTC opened at $34.56 on Friday. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 16.30, a PEG 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. The stock's 50 day moving average is $35.35 and its 200-day moving average is $35.51. Evertec, Inc. has a twelve month low of $31.11 and a twelve month high of $38.56.

Evertec (NYSE:EVTC - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $229.61 million for the quarter, compared to analysts' expectations of $222.23 million. During the same period last year, the firm posted $0.83 EPS. Evertec'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. Sell-side analysts forecast that Evertec, Inc. will post 2.63 EPS for the current fiscal year.

Evertec Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 4th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. Evertec's payout ratio is currently 9.43%.

Analyst Ratings Changes

EVTC has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price objective on shares of Evertec from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Morgan Stanley decreased their target price on shares of Evertec from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Evertec in a research note on Thursday, July 17th. They issued a "hold" rating and a $35.00 target price for the company. Susquehanna set a $39.00 target price on shares of Evertec and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $43.00 price target (up previously from $42.00) on shares of Evertec in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Evertec has an average 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 company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $35.72, for a total value of $80,119.96. Following the transaction, the director directly owned 11,946 shares in the company, valued at approximately $426,711.12. This represents a 15.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.63% of the company's stock.

About Evertec

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.

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