Evertec, Inc. $EVTC Shares Sold by Intech Investment Management LLC

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Evertec by 2.3% in the first quarter. Principal Financial Group Inc. now owns 317,649 shares of the business services provider's stock valued at $11,680,000 after buying an additional 7,125 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Evertec by 55.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,180 shares of the business services provider's stock valued at $414,000 after buying an additional 3,980 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Evertec by 4,773.8% in the first quarter. GAMMA Investing LLC now owns 14,524 shares of the business services provider's stock valued at $534,000 after buying an additional 14,226 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of 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 buying an additional 525 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of 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 buying an additional 429 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Evertec Stock Performance

NYSE:EVTC traded down $0.19 during trading hours on Friday, reaching $33.64. 910,791 shares of the stock were exchanged, compared to its average volume of 281,912. 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 firm has a 50 day simple moving average of $34.78 and a 200-day simple moving average of $35.43. Evertec, Inc. has a 52 week low of $31.41 and a 52 week high of $38.56. The stock has a market capitalization of $2.15 billion, a P/E ratio of 15.87, a P/E/G ratio of 1.65 and a beta of 0.93.

Evertec (NYSE:EVTC - Get Free Report) last released its earnings results on Wednesday, July 30th. The business services provider reported $0.89 EPS for the quarter, topping 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 the consensus estimate of $222.23 million. During the same quarter last year, the business posted $0.83 EPS. Evertec's quarterly revenue was up 8.3% compared to the same quarter last year. Evertec has set its FY 2025 guidance at 3.440-3.520 EPS. As a group, sell-side analysts forecast that Evertec, Inc. will post 2.63 earnings per share for the current fiscal year.

Evertec Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Evertec in a research note on Thursday, July 17th. They issued a "hold" rating and a $35.00 target price for the company. Morgan Stanley lowered their target price 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. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $43.00 target price (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 given a Hold rating to the company. Based on data from MarketBeat, Evertec has an average rating of "Moderate Buy" and an average 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.