Lombard Odier Asset Management Europe Ltd Acquires New Stake in Evertec, Inc. $EVTC

Key Points

• Lombard Odier Asset Management Europe Ltd disclosed a new stake in Evertec, buying 77,000 shares valued at about $2.24 million. The firm now owns roughly 0.12% of the company.
• Recent analyst sentiment is mixed: Raymond James kept an outperform rating with a $34 target, while other firms cut ratings or price targets, leaving Evertec with a consensus Hold and an average target price of $33.20.
• Evertec reported Q1 earnings of $0.90 per share, narrowly missing estimates, while revenue of $247.92 million also came in slightly below expectations. The company also paid a quarterly dividend of $0.05 per share, reflecting a modest 0.7% yield.

Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Evertec, Inc. (NYSE:EVTC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 77,000 shares of the business services provider's stock, valued at approximately $2,240,000. Lombard Odier Asset Management Europe Ltd owned approximately 0.12% of Evertec as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EVTC. Royal Bank of Canada increased its position in Evertec by 10.2% during the 1st quarter. Royal Bank of Canada now owns 37,786 shares of the business services provider's stock valued at $1,389,000 after buying an additional 3,495 shares in the last quarter. AQR Capital Management LLC bought a new position in Evertec during the 1st quarter valued at approximately $248,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Evertec by 3.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,915 shares of the business services provider's stock valued at $1,394,000 after buying an additional 1,222 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Evertec by 1.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,721 shares of the business services provider's stock valued at $3,189,000 after buying an additional 846 shares in the last quarter. Finally, Jane Street Group LLC increased its position in Evertec by 184.6% during the 1st quarter. Jane Street Group LLC now owns 133,714 shares of the business services provider's stock valued at $4,917,000 after buying an additional 86,733 shares in the last quarter. Institutional investors own 96.80% of the company's stock.

Analyst Ratings Changes

EVTC has been the subject of a number of analyst reports. Raymond James Financial reaffirmed an "outperform" rating and set a $34.00 price objective on shares of Evertec in a research report on Thursday, May 7th. Weiss Ratings lowered Evertec from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 22nd. Wall Street Zen lowered Evertec from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Morgan Stanley reduced their target price on Evertec from $29.00 to $25.00 and set an "equal weight" rating for the company in a report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $33.20.

Insider Transactions at Evertec

In other news, COO Joaquin A. Castrillo-Salgado purchased 20,000 shares of the company's stock in a transaction dated Friday, May 8th. The shares were purchased at an average cost of $22.74 per share, for a total transaction of $454,800.00. Following the purchase, the chief operating officer directly owned 143,987 shares in the company, valued at approximately $3,274,264.38. This represents a 16.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Luis A. Rodriguez-Gonzalez purchased 17,000 shares of the company's stock in a transaction dated Thursday, May 7th. The stock was purchased at an average price of $24.10 per share, for a total transaction of $409,700.00. Following the completion of the purchase, the executive vice president owned 80,907 shares in the company, valued at approximately $1,949,858.70. The trade was a 26.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 53,202 shares of company stock worth $1,292,557 in the last ninety days. Insiders own 1.13% of the company's stock.

Evertec Stock Down 0.6%

Evertec stock opened at $27.19 on Wednesday. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.93 and a beta of 0.74. The stock has a fifty day simple moving average of $26.38 and a two-hundred day simple moving average of $27.84. Evertec, Inc. has a 12 month low of $21.81 and a 12 month high of $37.78. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.56.

Evertec (NYSE:EVTC - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.01). The firm had revenue of $247.92 million during the quarter, compared to analysts' expectations of $248.99 million. Evertec had a return on equity of 31.40% and a net margin of 13.95%.The business's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $0.87 earnings per share. Evertec has set its FY 2026 guidance at 3.860-3.980 EPS. Equities analysts predict that Evertec, Inc. will post 3.34 EPS for the current fiscal year.

Evertec Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 11th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, May 11th. Evertec's dividend payout ratio (DPR) is 9.66%.

Evertec Company Profile

Evertec, Inc NYSE: EVTC is a leading full‐service transaction processor in Puerto Rico, Latin America and the Caribbean. The company delivers integrated technology solutions for electronic payments, providing financial institutions, merchants and governments with secure and scalable platforms to accept, process and settle transactions across card, ATM, debit and digital channels. Headquartered in San Juan, Puerto Rico, Evertec supports both domestic and cross‐border payment flows, enabling clients to streamline operations and expand their digital commerce capabilities.

Evertec's suite of services includes merchant acquiring, payment gateway connectivity, ATM and point‐of‐sale network management, and fraud prevention solutions.

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