Evertec, Inc. $EVTC Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its holdings in shares of Evertec, Inc. (NYSE:EVTC) by 7.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,894 shares of the business services provider’s stock after purchasing an additional 2,646 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Evertec worth $1,365,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of EVTC. Contravisory Investment Management Inc. purchased a new position in shares of Evertec in the second quarter worth about $235,000. Harbor Capital Advisors Inc. raised its holdings in Evertec by 6.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 23,764 shares of the business services provider’s stock valued at $857,000 after acquiring an additional 1,394 shares during the last quarter. Gallacher Capital Management LLC purchased a new position in Evertec in the 2nd quarter worth approximately $239,000. Jane Street Group LLC lifted its stake in Evertec by 184.6% in the 1st quarter. Jane Street Group LLC now owns 133,714 shares of the business services provider’s stock worth $4,917,000 after purchasing an additional 86,733 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 purchasing an additional 846 shares during the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Evertec Stock Performance

Shares of Evertec stock opened at $32.62 on Friday. The firm has a market cap of $2.09 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.49. Evertec, Inc. has a 52 week low of $31.41 and a 52 week high of $38.56. The business’s fifty day simple moving average is $34.80 and its 200-day simple moving average is $35.21.

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

Evertec Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Monday, August 4th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. Evertec’s dividend payout ratio (DPR) is presently 9.43%.

Analyst Ratings Changes

Several research firms recently commented on EVTC. Deutsche Bank Aktiengesellschaft initiated coverage on Evertec in a report on Thursday, July 17th. They issued a “hold” rating and a $35.00 price target for the company. Raymond James Financial restated an “outperform” rating and issued a $43.00 target price (up from $42.00) on shares of Evertec in a report on Thursday, July 31st. Morgan Stanley reduced their price target on Evertec from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Evertec in a research report on Saturday, September 27th. Finally, Zacks Research cut shares of Evertec from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.