EMC Capital Management Reduces Stock Holdings in Evertec, Inc. $EVTC

EMC Capital Management reduced its position in Evertec, Inc. (NYSE:EVTC) by 68.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,938 shares of the business services provider’s stock after selling 4,164 shares during the quarter. EMC Capital Management’s holdings in Evertec were worth $70,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Hsbc Holdings PLC grew its stake in shares of Evertec by 35.5% during the 1st quarter. Hsbc Holdings PLC now owns 12,707 shares of the business services provider’s stock worth $465,000 after acquiring an additional 3,330 shares during the period. Cetera Investment Advisers raised its stake in Evertec by 8.2% in the 1st 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 lifted its holdings in Evertec by 12.3% during the first 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. Nuveen LLC bought a new position in Evertec during the first quarter worth about $7,196,000. Finally, State of Alaska Department of Revenue increased its stake in shares of Evertec by 7.5% in the second quarter. State of Alaska Department of Revenue now owns 37,894 shares of the business services provider’s stock worth $1,365,000 after purchasing an additional 2,646 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors.

Evertec Price Performance

Shares of NYSE EVTC opened at $28.84 on Thursday. The firm has a market capitalization 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. The stock’s 50-day simple moving average is $31.05 and its two-hundred day simple moving average is $34.11. Evertec, Inc. has a twelve month low of $26.72 and a twelve month high of $38.56.

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

Evertec Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 3rd will be paid 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 payout ratio is currently 8.89%.

Analyst Ratings Changes

EVTC has been the subject of several analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Susquehanna decreased their price objective on Evertec from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Zacks Research downgraded Evertec from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Morgan Stanley reduced their target price on Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday, November 12th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $43.00 price target (up from $42.00) on shares of Evertec in a report on Thursday, July 31st. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.80.

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.