Kayne Anderson Rudnick Investment Management LLC Purchases 65,793 Shares of Evertec, Inc. $EVTC

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Evertec, Inc. by 1.9%, acquiring an additional 65,793 shares, raising its total ownership to 3,473,953 shares valued at approximately $127.7 million.
• Evertec reported an EPS of $0.89 for the quarter, exceeding analyst expectations, and has projected a FY 2025 EPS guidance between 3.440 and 3.520.
• The company declared a quarterly dividend of $0.05 per share, resulting in an annualized dividend of $0.20 with a yield of 0.5% and a payout ratio of 9.43%.

Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Evertec, Inc. (NYSE:EVTC - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,473,953 shares of the business services provider's stock after acquiring an additional 65,793 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 5.43% of Evertec worth $127,737,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Johnson Financial Group Inc. acquired a new stake in Evertec during the 4th quarter worth about $54,000. Blue Trust Inc. increased its stake in shares of Evertec by 39.2% during the 1st quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock worth $56,000 after purchasing an additional 429 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Evertec by 44.7% during the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock worth $62,000 after purchasing an additional 525 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Evertec by 19.3% during the 1st quarter. TD Private Client Wealth LLC now owns 1,855 shares of the business services provider's stock worth $68,000 after purchasing an additional 300 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Evertec during the 1st quarter worth $80,000. 96.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Evertec

In other news, Director Aldo J. Polak sold 2,243 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $35.72, for a total value of $80,119.96. Following the completion of the sale, the director directly owned 11,946 shares in the company, valued at approximately $426,711.12. This trade represents a 15.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.63% of the company's stock.

Evertec Price Performance

Shares of NYSE EVTC traded down $0.37 during midday trading on Friday, reaching $35.76. 137,292 shares of the company traded hands, compared to its average volume of 315,835. The firm has a market cap of $2.29 billion, a PE ratio of 16.87, a PEG ratio of 1.78 and a beta of 0.96. The stock's 50-day simple moving average is $35.46 and its 200-day simple moving average is $35.46. Evertec, Inc. has a 12 month low of $31.11 and a 12 month high of $38.56. 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 announced 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. Evertec had a return on equity of 36.67% and a net margin of 15.56%.The company had revenue of $229.61 million during the quarter, compared to analyst estimates of $222.23 million. During the same period last year, the company posted $0.83 earnings per share. The firm'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, equities analysts anticipate that Evertec, Inc. will post 2.63 earnings per share for the current fiscal year.

Evertec Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Monday, August 4th will be paid 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 0.6%. Evertec's dividend payout ratio (DPR) is 9.43%.

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.