Jump Financial LLC Reduces Holdings in Evertec, Inc. $EVTC

Key Points

• Jump Financial LLC has reduced its holdings in Evertec, Inc. by 34.3%, selling 11,809 shares, leaving it with 22,600 shares valued at approximately $831,000.
• In the 1st quarter, several institutional investors, including Nuveen LLC and Ameriprise Financial Inc., have either added to or significantly increased their stakes in Evertec.
• Evertec's stock has generated a quarterly dividend of $0.05, equating to an annualized yield of 0.6%, with the record date for shareholders set for August 4th.

Jump Financial LLC trimmed its holdings in shares of Evertec, Inc. (NYSE:EVTC - Free Report) by 34.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,600 shares of the business services provider's stock after selling 11,809 shares during the quarter. Jump Financial LLC's holdings in Evertec were worth $831,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. increased its position in Evertec by 2.3% in the first quarter. Principal Financial Group Inc. now owns 317,649 shares of the business services provider's stock worth $11,680,000 after buying an additional 7,125 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in 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 worth $414,000 after buying an additional 3,980 shares during the last quarter. GAMMA Investing LLC increased its position in Evertec by 4,773.8% in the first quarter. GAMMA Investing LLC now owns 14,524 shares of the business services provider's stock worth $534,000 after buying an additional 14,226 shares during the last quarter. Fifth Third Bancorp grew its position 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 purchasing an additional 525 shares in the last quarter. Finally, Blue Trust Inc. grew its position 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 purchasing an additional 429 shares in the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

Evertec Price Performance

Evertec stock traded down $0.22 during midday trading on Friday, hitting $34.39. 44,467 shares of the company's stock were exchanged, compared to its average volume of 316,427. Evertec, Inc. has a 52-week low of $31.11 and a 52-week high of $38.56. The stock has a 50-day moving average price of $35.35 and a two-hundred day moving average price of $35.51. 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 company has a market cap of $2.20 billion, a P/E ratio of 16.23, a PEG ratio of 1.68 and a beta of 0.93.

Evertec (NYSE:EVTC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. The firm had revenue of $229.61 million during the quarter, compared to analysts' expectations of $222.23 million. Evertec had a return on equity of 36.67% and a net margin of 15.56%.The company's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 EPS. Evertec has set its FY 2025 guidance at 3.440-3.520 EPS. On average, equities research analysts forecast that Evertec, Inc. will post 2.63 earnings per share for the current year.

Evertec Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Monday, August 4th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, August 4th. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. Evertec's dividend payout ratio is 9.43%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EVTC shares. Morgan Stanley reduced their price target on Evertec from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Raymond James Financial reiterated an "outperform" rating and issued a $43.00 price target (up from $42.00) on shares of Evertec in a research report on Thursday, July 31st. Keefe, Bruyette & Woods lifted their price target on Evertec from $42.00 to $44.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Susquehanna set a $39.00 price target on Evertec and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Evertec in a research note on Thursday, July 17th. They set a "hold" rating and a $35.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $39.00.

Insider Activity at Evertec

In other news, Director Aldo J. Polak sold 2,243 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $35.72, for a total transaction of $80,119.96. Following the transaction, the director directly owned 11,946 shares in the company, valued at approximately $426,711.12. This 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 this link. Company insiders own 0.63% of the company's stock.

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.