UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in Evertec, Inc. $EVTC

Key Points

• UBS Asset Management increased its Evertec position by 36,189.5% in the second quarter, acquiring 127,387 additional shares and ending with a stake worth approximately $3.55 million. Institutional investors collectively own 96.8% of EVTC.
• Evertec reported a strong quarter, posting EPS of $1.05 versus the $0.95 estimate and revenue of $274.82 million, up 19.7% year over year and above analyst expectations.
• EVTC shares recently traded down 2.2% to $29.07, while analysts maintain a consensus “Hold” rating with an average price target of $35.00; the company also pays a $0.20 annualized dividend yielding about 0.7%.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Evertec, Inc. (NYSE:EVTC - Free Report) by 36,189.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,739 shares of the business services provider's stock after acquiring an additional 127,387 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.21% of Evertec worth $3,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of EVTC. Kestra Advisory Services LLC purchased a new position in Evertec during the fourth quarter valued at $31,000. Hantz Financial Services Inc. grew its holdings in Evertec by 189.7% during the fourth quarter. Hantz Financial Services Inc. now owns 1,072 shares of the business services provider's stock valued at $31,000 after purchasing an additional 702 shares during the period. Clearstead Advisors LLC increased its position in Evertec by 194.5% in the fourth quarter. Clearstead Advisors LLC now owns 1,240 shares of the business services provider's stock worth $36,000 after buying an additional 819 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Evertec in the second quarter worth about $37,000. Finally, Allworth Financial LP bought a new position in shares of Evertec in the second quarter worth about $38,000. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Evertec Trading Down 2.2%

EVTC stock opened at $29.07 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.70 and a quick ratio of 1.70. Evertec, Inc. has a 1-year low of $21.81 and a 1-year high of $34.76. The business has a 50 day simple moving average of $30.08 and a two-hundred day simple moving average of $28.09. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 0.85 and a beta of 0.69.

Evertec (NYSE:EVTC - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.10. Evertec had a net margin of 9.80% and a return on equity of 32.07%. The firm had revenue of $274.82 million for the quarter, compared to analysts' expectations of $262.24 million. During the same quarter last year, the business posted $0.89 earnings per share. The company's revenue for the quarter was up 19.7% compared to the same quarter last year. Evertec has set its FY 2026 guidance at 3.940-4.040 EPS. Research analysts anticipate that Evertec, Inc. will post 3.53 EPS for the current fiscal year.

Evertec Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Monday, August 3rd were paid a $0.05 dividend. The ex-dividend date was Monday, August 3rd. This represents a $0.20 annualized dividend and a yield of 0.7%. Evertec's payout ratio is presently 12.99%.

Insider Buying and Selling at Evertec

In other news, EVP Paola Perez-Surillo sold 17,486 shares of Evertec stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $31.56, for a total value of $551,858.16. Following the sale, the executive vice president directly owned 46,421 shares of the company's stock, valued at approximately $1,465,046.76. The trade was a 27.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Aldo J. Polak sold 1,094 shares of the business's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $30.37, for a total value of $33,224.78. Following the completion of the sale, the director owned 14,849 shares in the company, valued at $450,964.13. This represents a 6.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 20,580 shares of company stock worth $644,673. Corporate insiders own 1.13% of the company's stock.

Analyst Upgrades and Downgrades

EVTC has been the subject of a number of recent research reports. Wall Street Zen upgraded Evertec from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of Evertec from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 25th. Finally, Morgan Stanley set a $34.00 target price on shares of Evertec in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $35.00.

Evertec 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.

Want to see what other hedge funds are holding EVTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Evertec, Inc. (NYSE:EVTC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.