SG Americas Securities LLC Raises Stock Position in Evertec, Inc. $EVTC

SG Americas Securities LLC lifted its position in shares of Evertec, Inc. (NYSE:EVTC) by 59.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,736 shares of the business services provider’s stock after acquiring an additional 13,278 shares during the quarter. SG Americas Securities LLC’s holdings in Evertec were worth $1,288,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in Evertec by 28.6% during the second quarter. Blue Trust Inc. now owns 1,958 shares of the business services provider’s stock worth $71,000 after purchasing an additional 436 shares during the last quarter. USA Financial Formulas purchased a new position in shares of Evertec in the second quarter valued at $26,000. Police & Firemen s Retirement System of New Jersey increased its position in shares of Evertec by 5.4% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 14,462 shares of the business services provider’s stock valued at $521,000 after buying an additional 737 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Evertec by 1.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,721 shares of the business services provider’s stock worth $3,189,000 after buying an additional 846 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Evertec by 8.2% in the 1st quarter. Cetera Investment Advisers now owns 11,523 shares of the business services provider’s stock worth $424,000 after buying an additional 878 shares in the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EVTC shares. Keefe, Bruyette & Woods dropped their target price 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 dropped their price objective 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. Zacks Research downgraded Evertec from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Morgan Stanley reduced their target price on Evertec from $34.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Evertec in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Evertec currently has an average rating of “Hold” and a consensus price target of $35.80.

Evertec Stock Performance

NYSE:EVTC opened at $29.17 on Friday. 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 firm has a market cap of $1.87 billion, a PE ratio of 13.76, a P/E/G ratio of 1.43 and a beta of 0.91. The firm has a 50 day simple moving average of $30.86 and a 200-day simple moving average of $34.04. Evertec, Inc. has a 1-year low of $26.72 and a 1-year high of $38.56.

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

Evertec Announces Dividend

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