XTX Topco Ltd Invests $331,000 in Evertec, Inc. (NYSE:EVTC)

Key Points

• XTX Topco Ltd has acquired a new stake in Evertec, Inc. valued at approximately $331,000, purchasing 9,009 shares in the first quarter.
• Several institutional investors, including Ameriprise Financial Inc., have increased their stakes in Evertec, leading to 96.80% of the stock being owned by institutional investors.
• Evertec announced a quarterly dividend of $0.05, with a dividend yield of 0.6%, scheduled for payment on September 5th.

XTX Topco Ltd bought a new position in Evertec, Inc. (NYSE:EVTC - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,009 shares of the business services provider's stock, valued at approximately $331,000.

Other hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC raised its holdings in Evertec by 4,525.0% in the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock worth $26,000 after purchasing an additional 724 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Evertec during the fourth quarter worth $54,000. Blue Trust Inc. raised its holdings in shares of Evertec by 39.2% during the first quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock worth $56,000 after acquiring an additional 429 shares during the period. Fifth Third Bancorp raised its holdings in shares of Evertec by 44.7% during the first quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock worth $62,000 after acquiring an additional 525 shares during the period. Finally, TD Private Client Wealth LLC raised its holdings in shares of Evertec by 19.3% during the first quarter. TD Private Client Wealth LLC now owns 1,855 shares of the business services provider's stock worth $68,000 after acquiring an additional 300 shares during the period. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Evertec Stock Down 1.3%

Evertec stock traded down $0.48 during mid-day trading on Thursday, reaching $37.18. The company's stock had a trading volume of 63,396 shares, compared to its average volume of 318,127. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 1.78 and a beta of 0.96. Evertec, Inc. has a 12 month low of $31.11 and a 12 month high of $38.56. The business's 50 day simple moving average is $35.48 and its 200 day simple moving average is $35.17. 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 quarterly earnings data on Wednesday, July 30th. The business services provider reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.03. Evertec had a net margin of 15.56% and a return on equity of 36.67%. The company had revenue of $229.61 million during the quarter, compared to the consensus estimate of $222.23 million. During the same quarter last year, the firm posted $0.83 EPS. The company's quarterly revenue was up 8.3% on a year-over-year basis. As a group, research analysts anticipate that Evertec, Inc. will post 2.63 earnings per share for the current year.

Evertec Announces Dividend

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 $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, August 4th. Evertec's dividend payout ratio (DPR) is 9.43%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Raymond James Financial restated an "outperform" rating and set a $43.00 price objective (up from $42.00) on shares of Evertec in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Evertec in a report on Thursday, July 17th. They set a "hold" rating and a $35.00 price objective on the stock. Susquehanna set a $39.00 price objective on shares of Evertec and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Morgan Stanley dropped their price objective on shares of Evertec from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Evertec from $42.00 to $44.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.00.

Insider Transactions at Evertec

In other news, Director Ivan Pagan sold 6,852 shares of Evertec stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $36.65, for a total value of $251,125.80. Following the completion of the transaction, the director owned 12,473 shares of the company's stock, valued at $457,135.45. This trade represents a 35.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Aldo J. Polak sold 2,243 shares of Evertec stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $35.72, for a total transaction of $80,119.96. Following the completion of the transaction, the director directly owned 11,946 shares of the company's stock, valued at approximately $426,711.12. This trade represents a 15.81% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.63% of the company's stock.

Evertec 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.