New York State Teachers Retirement System Has $1.78 Million Stock Position in Evertec, Inc. $EVTC

New York State Teachers Retirement System boosted its position in Evertec, Inc. (NYSE:EVTC) by 18.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,377 shares of the business services provider’s stock after acquiring an additional 7,633 shares during the period. New York State Teachers Retirement System owned 0.08% of Evertec worth $1,780,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC acquired a new position in shares of Evertec during the first quarter worth approximately $7,196,000. Cubist Systematic Strategies LLC bought a new stake in Evertec during the 1st quarter valued at $3,654,000. Jane Street Group LLC raised its holdings in Evertec by 184.6% during the first quarter. Jane Street Group LLC now owns 133,714 shares of the business services provider’s stock worth $4,917,000 after buying an additional 86,733 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Evertec by 1.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,473,953 shares of the business services provider’s stock valued at $127,737,000 after buying an additional 65,793 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Evertec by 7.1% during the first quarter. Northern Trust Corp now owns 907,660 shares of the business services provider’s stock valued at $33,375,000 after buying an additional 60,484 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.

Evertec Trading Down 0.4%

NYSE EVTC opened at $30.54 on Wednesday. The business’s fifty day moving average is $33.88 and its 200-day moving average is $34.73. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.20 and a quick ratio of 2.20. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.50 and a beta of 0.93. Evertec, Inc. has a one year low of $29.38 and a one year high of $38.56.

Evertec (NYSE:EVTC) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The business had revenue of $229.61 million during the quarter, compared to the consensus estimate of $222.23 million. Evertec had a net margin of 15.56% and a return on equity of 36.67%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 earnings per share. Evertec has set its FY 2025 guidance at 3.440-3.520 EPS. Equities research analysts predict that Evertec, Inc. will post 2.63 EPS for the current year.

Evertec Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Monday, August 4th were paid a $0.05 dividend. The ex-dividend date was Monday, August 4th. This represents a $0.20 annualized dividend and a yield of 0.7%. Evertec’s dividend payout ratio is presently 9.43%.

Wall Street Analyst Weigh In

Several research firms have recently commented on EVTC. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Evertec in a research report on Thursday, July 17th. They set a “hold” rating and a $35.00 target price for the company. Morgan Stanley lowered their price objective on Evertec from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, July 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Evertec in a research report on Wednesday, October 8th. Zacks Research lowered Evertec from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Raymond James Financial reaffirmed 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. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.00.

Evertec 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.