XTX Topco Ltd Takes $331,000 Position 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 acquired a new stake in shares of Evertec, Inc. (NYSE:EVTC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,009 shares of the business services provider's stock, valued at approximately $331,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Evertec by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,628,404 shares of the business services provider's stock valued at $56,229,000 after acquiring an additional 32,330 shares during the last quarter. Northern Trust Corp increased its position in shares of Evertec by 0.8% during the fourth quarter. Northern Trust Corp now owns 847,176 shares of the business services provider's stock valued at $29,253,000 after buying an additional 7,073 shares during the period. North Star Asset Management Inc. increased its position in shares of Evertec by 3.6% during the fourth quarter. North Star Asset Management Inc. now owns 794,171 shares of the business services provider's stock valued at $27,423,000 after buying an additional 27,911 shares during the period. Ameriprise Financial Inc. increased its position in shares of Evertec by 41.6% during the fourth quarter. Ameriprise Financial Inc. now owns 568,797 shares of the business services provider's stock valued at $19,641,000 after buying an additional 166,997 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Evertec during the fourth quarter valued at about $17,416,000. 96.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Susquehanna set a $39.00 price target on shares of Evertec and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Morgan Stanley reduced 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 report on Thursday, July 31st. Keefe, Bruyette & Woods boosted their price target 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. 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 research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Evertec in a research report on Thursday, July 17th. They set a "hold" rating and a $35.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Evertec has a consensus rating of "Moderate Buy" and an average target price of $39.00.

Insider Activity

In other news, Director Ivan Pagan sold 6,852 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $36.65, for a total value of $251,125.80. Following the transaction, the director owned 12,473 shares in the company, valued at approximately $457,135.45. This represents a 35.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $36.44, for a total transaction of $1,457,600.00. Following the completion of the transaction, the executive vice president owned 92,509 shares in the company, valued at approximately $3,371,027.96. This represents a 30.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,736 shares of company stock worth $2,068,506. Corporate insiders own 0.63% of the company's stock.

Evertec Price Performance

Shares of EVTC opened at $35.70 on Friday. The stock has a market cap of $2.28 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. 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, Inc. has a fifty-two week low of $31.11 and a fifty-two week high of $38.56. The firm's 50-day simple moving average is $35.46 and its two-hundred day simple moving average is $35.10.

Evertec (NYSE:EVTC - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $222.23 million. Evertec had a net margin of 15.56% and a return on equity of 36.67%. The business's revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 earnings per share. Analysts anticipate that Evertec, Inc. will post 2.63 earnings per share for the current fiscal year.

Evertec Dividend Announcement

The company 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. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, August 4th. Evertec's dividend payout ratio is currently 9.43%.

About Evertec

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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