Evertec, Inc. $EVTC Stake Trimmed by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its stake in shares of Evertec, Inc. (NYSE:EVTC) by 31.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,429 shares of the business services provider’s stock after selling 17,890 shares during the period. Texas Permanent School Fund Corp owned about 0.06% of Evertec worth $1,421,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners purchased a new position in shares of Evertec in the second quarter worth approximately $12,995,000. Globeflex Capital L P grew its position in Evertec by 9,133.9% during the 2nd quarter. Globeflex Capital L P now owns 289,207 shares of the business services provider’s stock worth $10,426,000 after purchasing an additional 286,075 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in Evertec by 422.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 208,037 shares of the business services provider’s stock valued at $7,500,000 after purchasing an additional 168,225 shares during the period. Gabelli Funds LLC purchased a new stake in shares of Evertec in the second quarter valued at $4,386,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Evertec in the first quarter worth $3,654,000. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Evertec Trading Up 0.1%

Evertec stock opened at $29.41 on Wednesday. Evertec, Inc. has a one year low of $26.72 and a one year high of $38.56. The company’s fifty day moving average price is $29.27 and its two-hundred day moving average price is $32.89. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.91 and a quick ratio of 2.91. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.16 and a beta of 0.89.

Evertec Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 3rd were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, November 3rd. Evertec’s dividend payout ratio (DPR) is presently 8.89%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Evertec in a research report on Monday. Keefe, Bruyette & Woods dropped their target price on Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Morgan Stanley reduced their price target on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 12th. Susquehanna decreased their price target on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Finally, Zacks Research lowered shares of Evertec from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. 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.com, the company currently has a consensus rating of “Hold” and an average target price of $35.80.

Evertec Company Profile

Evertec, Inc (NYSE: EVTC) is a leading full‐service transaction processor in Puerto Rico, Latin America and the Caribbean. The company delivers integrated technology solutions for electronic payments, providing financial institutions, merchants and governments with secure and scalable platforms to accept, process and settle transactions across card, ATM, debit and digital channels. Headquartered in San Juan, Puerto Rico, Evertec supports both domestic and cross‐border payment flows, enabling clients to streamline operations and expand their digital commerce capabilities.

Evertec’s suite of services includes merchant acquiring, payment gateway connectivity, ATM and point‐of‐sale network management, and fraud prevention solutions.