Evertec (NYSE:EVTC) Issues Earnings Results

Evertec (NYSE:EVTC) issued its quarterly earnings data on Tuesday. The business services provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.10, FiscalAI reports. Evertec had a net margin of 13.95% and a return on equity of 31.40%.

Evertec Trading Up 5.0%

EVTC stock traded up $1.54 during trading on Tuesday, reaching $32.65. The company had a trading volume of 609,504 shares, compared to its average volume of 523,013. Evertec has a 52 week low of $21.81 and a 52 week high of $37.71. The company has a market cap of $2.01 billion, a P/E ratio of 15.77, a PEG ratio of 1.03 and a beta of 0.70. The business has a 50 day moving average of $27.45 and a 200 day moving average of $27.73. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.97 and a quick ratio of 1.97.

Evertec Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 3rd will be given a dividend of $0.05 per share. The ex-dividend date is Monday, August 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. Evertec’s payout ratio is currently 9.66%.

Insider Buying and Selling at Evertec

In other Evertec news, EVP Luis A. Rodriguez-Gonzalez bought 17,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were purchased at an average price of $24.10 per share, for a total transaction of $409,700.00. Following the acquisition, the executive vice president owned 80,907 shares in the company, valued at approximately $1,949,858.70. This represents a 26.60% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brian John Smith bought 16,202 shares of the stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of $26.42 per share, with a total value of $428,056.84. Following the completion of the acquisition, the director directly owned 88,222 shares of the company’s stock, valued at approximately $2,330,825.24. The trade was a 22.50% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 53,202 shares of company stock valued at $1,292,557. 1.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Evertec

A number of large investors have recently made changes to their positions in the company. Millennium Management LLC lifted its position in shares of Evertec by 731.6% in the third quarter. Millennium Management LLC now owns 686,281 shares of the business services provider’s stock valued at $23,183,000 after acquiring an additional 603,753 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of Evertec by 151.5% in the 4th quarter. Voloridge Investment Management LLC now owns 285,693 shares of the business services provider’s stock worth $8,311,000 after acquiring an additional 172,101 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in shares of Evertec by 422.5% during the second quarter. Qube Research & Technologies Ltd now owns 208,037 shares of the business services provider’s stock valued at $7,500,000 after buying an additional 168,225 shares during the last quarter. Boston Partners grew its holdings in shares of Evertec by 45.0% in the third quarter. Boston Partners now owns 526,864 shares of the business services provider’s stock worth $17,656,000 after purchasing an additional 163,398 shares during the last quarter. Finally, Clark Capital Management Group Inc. raised its position in Evertec by 44.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 525,235 shares of the business services provider’s stock valued at $15,279,000 after purchasing an additional 162,512 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EVTC has been the subject of a number of recent analyst reports. Raymond James Financial reissued an “outperform” rating and set a $34.00 target price on shares of Evertec in a research report on Thursday, May 7th. Wall Street Zen downgraded Evertec from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley dropped their price objective on Evertec from $29.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 19th. Finally, Weiss Ratings raised Evertec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.75.

About Evertec

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.