Evertec, Inc. $EVTC Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in shares of Evertec, Inc. (NYSE:EVTC) by 7.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 580,500 shares of the business services provider’s stock after selling 47,737 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.91% of Evertec worth $21,345,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in EVTC. Ameriprise Financial Inc. boosted its position in shares of Evertec by 41.6% during the 4th quarter. Ameriprise Financial Inc. now owns 568,797 shares of the business services provider’s stock worth $19,641,000 after purchasing an additional 166,997 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Evertec during the 4th quarter worth $5,356,000. Invenomic Capital Management LP boosted its position in shares of Evertec by 48.4% during the 4th quarter. Invenomic Capital Management LP now owns 275,979 shares of the business services provider’s stock worth $9,530,000 after purchasing an additional 90,057 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Evertec during the 4th quarter worth $3,108,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Evertec during the 4th quarter worth $2,225,000. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Evertec from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 31st. Raymond James Financial restated an “outperform” rating and set a $43.00 target price (up from $42.00) on shares of Evertec in a research report on Thursday, July 31st. Keefe, Bruyette & Woods boosted their price objective on shares of Evertec from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Evertec in a research report on Thursday, July 17th. They issued a “hold” rating and a $35.00 price objective on the stock. Finally, Susquehanna set a $39.00 price objective on shares of Evertec and gave the stock a “neutral” rating in a research report on Tuesday, May 20th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Evertec Price Performance

Evertec stock opened at $35.7580 on Friday. Evertec, Inc. has a 52 week low of $31.11 and a 52 week high of $38.56. 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 firm’s 50-day simple moving average is $35.43 and its 200 day simple moving average is $35.34. The firm has a market capitalization of $2.29 billion, a PE ratio of 16.87, a P/E/G ratio of 1.77 and a beta of 0.96.

Evertec (NYSE:EVTC) last released its earnings results on Wednesday, July 30th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. The company had revenue of $229.61 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 EPS. Evertec has set its FY 2025 guidance at 3.440-3.520 EPS. On average, equities research analysts predict that Evertec, Inc. will post 2.63 EPS for the current fiscal year.

Evertec Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 4th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, August 4th. Evertec’s dividend payout ratio is 9.43%.

Insider Transactions at Evertec

In other Evertec news, Director Aldo J. Polak sold 2,243 shares of the company’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $35.72, for a total value of $80,119.96. Following the transaction, the director directly owned 11,946 shares in the company, valued at approximately $426,711.12. This represents a 15.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.63% of the company’s stock.

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.