EMC Capital Management Has $70,000 Stock Position in Evertec, Inc. $EVTC

EMC Capital Management cut its position in Evertec, Inc. (NYSE:EVTC) by 68.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,938 shares of the business services provider’s stock after selling 4,164 shares during the period. EMC Capital Management’s holdings in Evertec were worth $70,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in Evertec in the second quarter valued at approximately $26,000. Parkside Financial Bank & Trust lifted its holdings in shares of Evertec by 479.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,355 shares of the business services provider’s stock worth $49,000 after purchasing an additional 1,121 shares in the last quarter. Blue Trust Inc. grew its position in Evertec by 28.6% in the 2nd quarter. Blue Trust Inc. now owns 1,958 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 436 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in Evertec during the 1st quarter valued at $80,000. Finally, Wealth Alliance LLC acquired a new position in Evertec during the first quarter worth $209,000. 96.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on EVTC shares. Raymond James Financial reiterated 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Evertec in a report on Monday. Keefe, Bruyette & Woods dropped their target price on Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Susquehanna cut their target price on Evertec from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Finally, Zacks Research downgraded Evertec from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $35.80.

Evertec Price Performance

Evertec stock opened at $28.84 on Thursday. Evertec, Inc. has a 52 week low of $26.72 and a 52 week high of $38.56. The company’s 50 day moving average price is $31.05 and its two-hundred day moving average price is $34.11. The stock has a market cap of $1.85 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.43 and a beta of 0.92. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.49.

Evertec (NYSE:EVTC) last issued its quarterly earnings results on Thursday, November 6th. The business services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Evertec had a return on equity of 36.67% and a net margin of 15.56%.The business had revenue of $227.93 million for the quarter, compared to analyst estimates of $224.68 million. During the same period last year, the company posted $0.86 earnings per share. Evertec’s quarterly revenue was up 7.9% compared to the same quarter last year. Evertec has set its FY 2025 guidance at 3.560-3.620 EPS. On average, equities analysts predict that Evertec, Inc. will post 2.63 earnings per share for the current year.

Evertec Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 3rd will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, November 3rd. Evertec’s payout ratio is 8.89%.

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.