Fuller & Thaler Asset Management Inc. Boosts Stake in Evertec, Inc. $EVTC

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Evertec, Inc. by 3.0%, owning a total of 1,155,394 shares after purchasing an additional 33,832 shares, valued at approximately $42.48 million.
• A variety of institutional investors have also purchased Evertec shares recently, with a significant increase seen from GAMMA Investing LLC by 4,773.8% and Allspring Global Investments Holdings LLC by 55.3%.
• Evertec reported a quarterly earnings per share of $0.89, surpassing the consensus estimate of $0.86, and declared a quarterly dividend of $0.05, which is set to be paid on September 5th.

Fuller & Thaler Asset Management Inc. increased its holdings in shares of Evertec, Inc. (NYSE:EVTC - Free Report) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,155,394 shares of the business services provider's stock after purchasing an additional 33,832 shares during the period. Fuller & Thaler Asset Management Inc. owned 1.80% of Evertec worth $42,484,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of EVTC. Northern Trust Corp raised its holdings in shares of Evertec by 7.1% in the first quarter. Northern Trust Corp now owns 907,660 shares of the business services provider's stock valued at $33,375,000 after buying an additional 60,484 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Evertec during the 1st quarter worth approximately $497,000. Russell Investments Group Ltd. lifted its position in Evertec by 12.1% during the 1st quarter. Russell Investments Group Ltd. now owns 29,169 shares of the business services provider's stock worth $1,073,000 after acquiring an additional 3,160 shares during the period. HighTower Advisors LLC grew its stake in shares of Evertec by 24.2% in the 1st quarter. HighTower Advisors LLC now owns 36,779 shares of the business services provider's stock valued at $1,352,000 after purchasing an additional 7,156 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in shares of Evertec by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 201,708 shares of the business services provider's stock valued at $7,417,000 after purchasing an additional 43,223 shares during the period. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Evertec Price Performance

Shares of EVTC traded up $0.9910 during trading hours on Friday, reaching $36.7910. The company had a trading volume of 428,193 shares, compared to its average volume of 356,206. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 1.49. Evertec, Inc. has a 12-month low of $31.11 and a 12-month high of $38.56. The firm has a 50 day simple moving average of $35.45 and a 200-day simple moving average of $35.37. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 1.75 and a beta of 0.96.

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, topping 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 company had revenue of $229.61 million for the quarter, compared to analyst estimates of $222.23 million. During the same period in the prior year, the business posted $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 expect that Evertec, Inc. will post 2.63 earnings per share for the current 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 given a $0.05 dividend. The ex-dividend date is Monday, August 4th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. Evertec's dividend payout ratio (DPR) is currently 9.43%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EVTC. Morgan Stanley cut their price target on Evertec from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft started 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 price target on shares of Evertec and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Keefe, Bruyette & Woods raised their price objective on shares of Evertec from $42.00 to $44.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $43.00 target price (up previously from $42.00) on shares of Evertec in a research report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus 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 on Friday, June 20th. The stock was sold at an average price of $35.72, for a total transaction of $80,119.96. Following the completion of the transaction, the director owned 11,946 shares of the company's stock, valued at $426,711.12. The trade was a 15.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.63% of the stock is owned by company insiders.

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.