KLP Kapitalforvaltning AS Buys 1,500 Shares of Evertec, Inc. $EVTC

KLP Kapitalforvaltning AS grew its holdings in shares of Evertec, Inc. (NYSE:EVTC) by 7.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,500 shares of the business services provider’s stock after buying an additional 1,500 shares during the period. KLP Kapitalforvaltning AS’s holdings in Evertec were worth $739,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. USA Financial Formulas purchased a new position in shares of Evertec in the 2nd quarter worth about $26,000. Blue Trust Inc. increased its holdings in Evertec by 39.2% in the 1st quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider’s stock worth $56,000 after buying an additional 429 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Evertec by 44.7% during the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 525 shares during the period. TD Private Client Wealth LLC grew its stake in shares of Evertec by 19.3% during the 1st quarter. TD Private Client Wealth LLC now owns 1,855 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 300 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Evertec during the 1st quarter valued at about $80,000. Institutional investors own 96.80% of the company’s stock.

Wall Street Analysts Forecast Growth

EVTC has been the subject of a number of recent research reports. Zacks Research downgraded Evertec from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Deutsche Bank Aktiengesellschaft initiated coverage on Evertec in a research note on Thursday, July 17th. They set a “hold” rating and a $35.00 price target for the company. Raymond James Financial restated an “outperform” rating and set a $43.00 price target (up from $42.00) on shares of Evertec in a research note on Thursday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Evertec in a research note on Wednesday, October 8th. Finally, Morgan Stanley cut 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. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.00.

Evertec Stock Down 3.0%

NYSE EVTC opened at $29.60 on Friday. The stock has a 50 day moving average price of $34.22 and a 200-day moving average price of $34.85. Evertec, Inc. has a one year low of $29.51 and a one year high of $38.56. The company has a market capitalization of $1.89 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.49 and a beta of 0.93. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.20 and a current ratio of 2.20.

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

Evertec Announces Dividend

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

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.