Public Sector Pension Investment Board Buys 43,223 Shares of Evertec, Inc. $EVTC

Key Points

• Public Sector Pension Investment Board increased its holdings in Evertec, Inc. by 27.3%, owning over 201,000 shares valued at approximately $7.4 million as reported in their SEC filing.
• Evertec reported $0.89 earnings per share for the last quarter, beating estimates, with a revenue increase of 8.3% year-over-year.
• The company announced a quarterly dividend of $0.05 per share, representing an annual yield of 0.5%, and has a payout ratio of 9.43%.

Public Sector Pension Investment Board raised its holdings in Evertec, Inc. (NYSE:EVTC - Free Report) by 27.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 201,708 shares of the business services provider's stock after acquiring an additional 43,223 shares during the quarter. Public Sector Pension Investment Board owned 0.32% of Evertec worth $7,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Johnson Financial Group Inc. bought a new stake in shares of Evertec in the 4th quarter worth approximately $54,000. Blue Trust Inc. grew its position in Evertec by 39.2% in the first 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 last quarter. Fifth Third Bancorp grew its position in Evertec by 44.7% in 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 during the last quarter. TD Private Client Wealth LLC increased 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 buying an additional 300 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Evertec during the 1st quarter valued at $80,000. Institutional investors own 96.80% of the company's stock.

Evertec Price Performance

Shares of Evertec stock traded down $0.02 during midday trading on Tuesday, hitting $37.01. 60,796 shares of the company were exchanged, compared to its average volume of 318,374. The firm has a 50 day simple moving average of $35.50 and a 200-day simple moving average of $35.30. Evertec, Inc. has a 52 week low of $31.11 and a 52 week high of $38.56. The firm has a market cap of $2.37 billion, a P/E ratio of 17.45, a PEG ratio of 1.80 and a beta of 0.96. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.20 and a quick ratio of 2.20.

Evertec (NYSE:EVTC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The business services provider reported $0.89 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $222.23 million. During the same period last year, the business earned $0.83 earnings per share. The business's revenue was up 8.3% on a year-over-year basis. Evertec has set its FY 2025 guidance at 3.440-3.520 EPS. Research analysts forecast that Evertec, Inc. will post 2.63 earnings per share for the current year.

Evertec Dividend Announcement

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

Insider Transactions at Evertec

In other Evertec news, Director Aldo J. Polak sold 2,243 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $35.72, for a total value of $80,119.96. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ivan Pagan sold 6,852 shares of Evertec stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $36.65, for a total value of $251,125.80. Following the completion of the sale, the director directly owned 12,473 shares in the company, valued at $457,135.45. This represents a 35.46% decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EVTC. Susquehanna set a $39.00 target price on Evertec and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Morgan Stanley decreased 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. Keefe, Bruyette & Woods lifted their price target on Evertec from $42.00 to $44.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Evertec in a research note on Thursday, July 17th. They set a "hold" rating and a $35.00 price objective for the company. Finally, 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 note on Thursday, July 31st. Three equities research 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $39.00.

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.