Atria Investments Inc Boosts Stake in Evertec, Inc. $EVTC

Atria Investments Inc lifted its holdings in shares of Evertec, Inc. (NYSE:EVTC) by 25.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,723 shares of the business services provider’s stock after purchasing an additional 2,798 shares during the quarter. Atria Investments Inc’s holdings in Evertec were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jennison Associates LLC lifted its position in Evertec by 21.6% in the second quarter. Jennison Associates LLC now owns 31,681 shares of the business services provider’s stock valued at $1,142,000 after buying an additional 5,628 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Evertec by 104.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 31,111 shares of the business services provider’s stock valued at $1,122,000 after acquiring an additional 15,927 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of Evertec in the 2nd quarter worth approximately $348,000. New York State Teachers Retirement System boosted its position in shares of Evertec by 18.3% during the 2nd quarter. New York State Teachers Retirement System now owns 49,377 shares of the business services provider’s stock worth $1,780,000 after purchasing an additional 7,633 shares during the period. Finally, Blue Trust Inc. increased its holdings in Evertec by 28.6% in the 2nd quarter. Blue Trust Inc. now owns 1,958 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 436 shares during the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on EVTC shares. 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. Keefe, Bruyette & Woods cut their price objective on Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday. Susquehanna lowered their target price on Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday. Morgan Stanley cut their price target on shares of Evertec from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 31st. Finally, 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 price target on the stock. Three 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 has an average rating of “Hold” and a consensus target price of $36.80.

Evertec Stock Performance

Shares of EVTC opened at $27.07 on Tuesday. Evertec, Inc. has a 1 year low of $26.72 and a 1 year high of $38.56. The stock has a market capitalization of $1.73 billion, a PE ratio of 12.77, a PEG ratio of 1.43 and a beta of 0.91. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.20 and a current ratio of 2.20. The stock has a 50-day simple moving average of $31.82 and a 200-day simple moving average of $34.36.

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

Evertec Dividend Announcement

The company 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 dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, November 3rd. Evertec’s payout ratio is 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.