American Century Companies Inc. Has $165.92 Million Stock Position in Evertec, Inc. $EVTC

Key Points

• American Century Companies Inc. reduced its stake in Evertec, Inc. by 1.0%, holding approximately 4.5 million shares valued at $165.9 million after selling 47,666 shares in the 1st quarter.
• Evertec's latest quarterly earnings surpassed expectations, with reported earnings per share of $0.89, exceeding the consensus estimate of $0.86, alongside a revenue of $229.61 million.
• The company recently declared a quarterly dividend of $0.05 per share, with a payout ratio of 9.43%, to be paid to stockholders on September 5th.

American Century Companies Inc. lowered its position in Evertec, Inc. (NYSE:EVTC - Free Report) by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,512,227 shares of the business services provider's stock after selling 47,666 shares during the period. American Century Companies Inc. owned 7.05% of Evertec worth $165,915,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC raised its stake in shares of Evertec by 19.3% in the 1st 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 during the period. Summit Investment Advisors Inc. increased its stake in shares of Evertec by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,747 shares of the business services provider's stock worth $233,000 after purchasing an additional 429 shares during the last quarter. Blue Trust Inc. increased its stake 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 last quarter. Fifth Third Bancorp increased its stake in shares of Evertec by 44.7% during the 1st 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, Cetera Investment Advisers increased its stake in shares of Evertec by 6.9% during the 4th quarter. Cetera Investment Advisers now owns 10,645 shares of the business services provider's stock worth $368,000 after purchasing an additional 690 shares during the last quarter. Institutional investors own 96.80% of the company's stock.

Evertec Price Performance

Shares of Evertec stock traded down $0.76 on Wednesday, reaching $36.34. 114,806 shares of the stock were exchanged, compared to its average volume of 318,668. The firm's 50 day moving average is $35.49 and its 200-day moving average is $35.31. Evertec, Inc. has a one year low of $31.11 and a one year high of $38.56. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.20 and a current ratio of 2.20. The firm has a market cap of $2.33 billion, a PE ratio of 17.13, a P/E/G ratio of 1.81 and a beta of 0.96.

Evertec (NYSE:EVTC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. Evertec had a net margin of 15.56% and a return on equity of 36.67%. The company had revenue of $229.61 million during the quarter, compared to the consensus estimate of $222.23 million. During the same quarter in the prior year, the firm posted $0.83 EPS. The firm's quarterly revenue was up 8.3% on a year-over-year basis. Evertec has set its FY 2025 guidance at 3.440-3.520 EPS. As a group, analysts anticipate 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. Stockholders of record on Monday, August 4th will be issued 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 is Monday, August 4th. Evertec's dividend payout ratio is 9.43%.

Insider Buying and Selling

In other news, Director Aldo J. Polak sold 2,243 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $35.72, for a total transaction of $80,119.96. Following the completion of the sale, the director owned 11,946 shares of the company's stock, valued at approximately $426,711.12. This represents a 15.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ivan Pagan sold 6,852 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $36.65, for a total transaction of $251,125.80. Following the sale, the director directly owned 12,473 shares of the company's stock, valued at approximately $457,135.45. This trade represents a 35.46% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EVTC. Morgan Stanley lowered 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 note on Thursday, July 31st. Raymond James Financial reiterated an "outperform" rating and issued a $43.00 price target (up previously from $42.00) on shares of Evertec in a research note on Thursday, July 31st. Keefe, Bruyette & Woods upped their price target on shares of Evertec from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Susquehanna set a $39.00 price target on shares of Evertec and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Finally, 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 price target on the stock. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.