Trexquant Investment LP Makes New $380,000 Investment in Evertec, Inc. $EVTC

Key Points

• Trexquant Investment LP has made a new investment of approximately $380,000 in Evertec, acquiring 10,331 shares in the process during the first quarter of the year.
• Following similar trends, several hedge funds, such as OMERS ADMINISTRATION Corp and Banco Bilbao Vizcaya Argentaria S.A., have also increased their stakes in Evertec, indicating strong institutional interest.
• Evertec recently reported quarterly earnings of $0.89 per share, exceeding analysts' expectations and reflecting an 8.3% increase in revenue year-over-year.

Trexquant Investment LP acquired a new stake in shares of Evertec, Inc. (NYSE:EVTC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,331 shares of the business services provider's stock, valued at approximately $380,000.

Several other hedge funds have also recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp purchased a new position in shares of Evertec during the first quarter valued at approximately $474,000. Aristides Capital LLC raised its holdings in shares of Evertec by 21.5% during the first quarter. Aristides Capital LLC now owns 88,344 shares of the business services provider's stock valued at $3,248,000 after purchasing an additional 15,655 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Evertec by 1.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,473,953 shares of the business services provider's stock valued at $127,737,000 after purchasing an additional 65,793 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Evertec by 80.8% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 12,834 shares of the business services provider's stock valued at $469,000 after purchasing an additional 5,735 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Evertec by 35.5% during the first quarter. Hsbc Holdings PLC now owns 12,707 shares of the business services provider's stock valued at $465,000 after purchasing an additional 3,330 shares during the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Evertec

In other news, Director Aldo J. Polak sold 2,243 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $35.72, for a total value of $80,119.96. Following the transaction, the director owned 11,946 shares of the company's stock, valued at approximately $426,711.12. The trade was a 15.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.63% of the company's stock.

Evertec Stock Performance

EVTC opened at $34.28 on Tuesday. The firm has a market cap of $2.19 billion, a P/E ratio of 16.17, a PEG ratio of 1.68 and a beta of 0.93. Evertec, Inc. has a 1-year low of $31.11 and a 1-year high of $38.56. The company has a 50 day simple moving average of $35.28 and a two-hundred day simple moving average of $35.54. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.20 and a quick ratio of 2.20.

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

Evertec Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Monday, August 4th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, August 4th. Evertec's dividend payout ratio is presently 9.43%.

Wall Street Analysts Forecast Growth

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

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