Intech Investment Management LLC Sells 44,194 Shares of Evertec, Inc. $EVTC

Key Points

• Intech Investment Management LLC sold 44,194 shares of Evertec, reducing its stake by 35.2% to 81,365 shares, valued at $2,992,000 as of the latest disclosure.
• Evertec's stock price decreased by 2.2% and opened at $33.45, with a market cap of $2.14 billion and a PE ratio of 15.78.
• The company announced a $0.05 quarterly dividend for shareholders, representing an annualized yield of 0.6% and a payout ratio of 9.43%.

Intech Investment Management LLC reduced its stake in Evertec, Inc. (NYSE:EVTC - Free Report) by 35.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,365 shares of the business services provider's stock after selling 44,194 shares during the period. Intech Investment Management LLC owned 0.13% of Evertec worth $2,992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in Evertec by 39.2% in the first quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock valued at $56,000 after purchasing an additional 429 shares in the last quarter. Fifth Third Bancorp increased its stake in Evertec by 44.7% in the first quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock valued at $62,000 after purchasing an additional 525 shares in the last quarter. TD Private Client Wealth LLC increased its stake in 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 bought a new stake in Evertec in the first quarter valued at $80,000. Finally, Wealth Alliance LLC bought a new stake in Evertec in the first quarter valued at $209,000. 96.80% of the stock is owned by institutional investors.

Evertec Stock Down 2.2%

Evertec stock opened at $33.45 on Monday. Evertec, Inc. has a fifty-two week low of $31.41 and a fifty-two week high of $38.56. The stock has a market cap of $2.14 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.63 and a beta of 0.93. The firm's 50-day simple moving average is $35.00 and its 200 day simple moving average is $35.54. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.20 and a current ratio of 2.20.

Evertec (NYSE:EVTC - Get Free Report) last released its earnings results 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. The firm had revenue of $229.61 million for the quarter, compared to analysts' expectations of $222.23 million. Evertec had a net margin of 15.56% and a return on equity of 36.67%. The company's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 earnings per share. Evertec has set its FY 2025 guidance at 3.440-3.520 EPS. Research analysts predict that Evertec, Inc. will post 2.63 EPS for the current fiscal year.

Evertec Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on EVTC. 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Evertec in a research report on Thursday, July 17th. They set a "hold" rating and a $35.00 target price for the company. Raymond James Financial reissued an "outperform" rating and set a $43.00 target price (up from $42.00) on shares of Evertec in a research report on Thursday, July 31st. Finally, 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 research report on Thursday, July 31st. 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, Evertec currently has an average rating of "Moderate Buy" and a consensus target price of $39.00.

Insiders Place Their Bets

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 shares were 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 $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 available through the SEC website. 0.63% of the stock is currently owned by insiders.

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.

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