Invesco Ltd. Has $4.69 Million Holdings in Evertec, Inc. $EVTC

Key Points

• Invesco Ltd. significantly reduced its stake in Evertec, Inc. by 85.7% during Q1, selling 766,910 shares and owning only 127,584 shares by the end of the quarter.
• Multiple institutional investors, including Jefferies Financial Group and North Star Asset Management, have recently bought shares of Evertec, contributing to a total institutional ownership of 96.80%.
• Evertec reported a quarterly EPS of $0.89, exceeding analysts' expectations, with revenues of $229.61 million, reflecting an 8.3% year-over-year increase.

Invesco Ltd. reduced its holdings in Evertec, Inc. (NYSE:EVTC - Free Report) by 85.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,584 shares of the business services provider's stock after selling 766,910 shares during the period. Invesco Ltd. owned about 0.20% of Evertec worth $4,691,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in Evertec by 39.2% in the 1st quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock worth $56,000 after acquiring an additional 429 shares in the last quarter. Fifth Third Bancorp lifted its stake in Evertec by 44.7% in the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock worth $62,000 after acquiring an additional 525 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in 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 worth $68,000 after acquiring an additional 300 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Evertec in the 1st quarter worth about $80,000. Finally, Bridgefront Capital LLC purchased a new stake in Evertec in the 4th quarter worth about $206,000. 96.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Evertec

In other news, Director Aldo J. Polak sold 2,243 shares of Evertec stock in a transaction that occurred 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 sale, the director owned 11,946 shares of the company's stock, valued at approximately $426,711.12. This trade represents a 15.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EVTC has been the subject of several research analyst reports. Morgan Stanley reduced their price objective 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. Keefe, Bruyette & Woods raised 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 Evertec in a research note on Thursday, July 17th. They set a "hold" rating and a $35.00 price target for the company. Raymond James Financial reaffirmed an "outperform" rating and set a $43.00 price target (up from $42.00) on shares of Evertec in a research note on Thursday, July 31st. Finally, Susquehanna set a $39.00 price target on Evertec and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Evertec has a consensus rating of "Moderate Buy" and a consensus target price of $39.00.

Evertec Stock Performance

EVTC traded down $0.76 during midday trading on Tuesday, reaching $34.93. The company's stock had a trading volume of 251,342 shares, compared to its average volume of 276,311. The stock has a market cap of $2.23 billion, a P/E ratio of 16.47, a PEG ratio of 1.74 and a beta of 0.93. The company has a fifty day simple moving average of $35.42 and a 200 day simple moving average of $35.51. 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 twelve month low of $31.11 and a twelve month high of $38.56.

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 (EPS) 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 analyst estimates of $222.23 million. Evertec had a return on equity of 36.67% and a net margin of 15.56%.The company's revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 4th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. Evertec's dividend payout ratio (DPR) is 9.43%.

Evertec 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.