Dynamic Technology Lab Private Ltd Invests $879,000 in Evertec, Inc. $EVTC

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Evertec, Inc. (NYSE:EVTC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,400 shares of the business services provider’s stock, valued at approximately $879,000.

Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc acquired a new position in shares of Evertec in the 1st quarter worth approximately $239,000. KLP Kapitalforvaltning AS lifted its holdings in Evertec by 38.7% during the 1st quarter. KLP Kapitalforvaltning AS now owns 19,000 shares of the business services provider’s stock worth $699,000 after buying an additional 5,300 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Evertec by 8.2% during the first quarter. Cetera Investment Advisers now owns 11,523 shares of the business services provider’s stock valued at $424,000 after acquiring an additional 878 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Evertec by 12.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,658 shares of the business services provider’s stock valued at $796,000 after purchasing an additional 2,364 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Evertec in the first quarter valued at approximately $80,000. Institutional investors and hedge funds own 96.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on EVTC shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Evertec in a report on Monday. Raymond James Financial reaffirmed an “outperform” rating and issued a $43.00 price target (up from $42.00) on shares of Evertec in a research note on Thursday, July 31st. Morgan Stanley reduced their price objective on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 12th. Zacks Research cut shares of Evertec from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Finally, Susquehanna lowered their target price on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Evertec has a consensus rating of “Hold” and an average price target of $35.80.

Evertec Stock Performance

Shares of EVTC stock opened at $29.17 on Friday. 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 52 week low of $26.72 and a 52 week high of $38.56. The company’s 50 day moving average price is $30.86 and its two-hundred day moving average price is $34.04. The company has a market capitalization of $1.87 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 1.43 and a beta of 0.91.

Evertec (NYSE:EVTC) last issued its quarterly earnings data on Thursday, November 6th. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The company had revenue of $227.93 million during the quarter, compared to the consensus estimate of $224.68 million. Evertec had a net margin of 15.56% and a return on equity of 36.67%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Evertec has set its FY 2025 guidance at 3.560-3.620 EPS. On average, analysts expect 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, December 5th. Investors of record on Monday, November 3rd will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, November 3rd. Evertec’s dividend payout ratio (DPR) is currently 8.89%.

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.