Renaissance Technologies LLC Reduces Position in Evertec, Inc. $EVTC

Renaissance Technologies LLC decreased its holdings in Evertec, Inc. (NYSE:EVTC) by 29.6% during the 1st quarter, HoldingsChannel reports. The fund owned 92,238 shares of the business services provider’s stock after selling 38,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Evertec were worth $2,603,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Evertec by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,574,381 shares of the business services provider’s stock valued at $45,799,000 after purchasing an additional 61,591 shares in the last quarter. Millennium Management LLC increased its holdings in Evertec by 23.7% during the 4th quarter. Millennium Management LLC now owns 848,588 shares of the business services provider’s stock worth $24,685,000 after purchasing an additional 162,307 shares during the last quarter. North Star Asset Management Inc. raised its position in shares of Evertec by 0.5% in the 4th quarter. North Star Asset Management Inc. now owns 808,974 shares of the business services provider’s stock valued at $23,533,000 after purchasing an additional 3,858 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Evertec by 8.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 708,704 shares of the business services provider’s stock valued at $20,616,000 after purchasing an additional 53,323 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Evertec by 1.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 652,513 shares of the business services provider’s stock valued at $18,983,000 after purchasing an additional 7,886 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Evertec Trading Up 0.1%

Shares of NYSE EVTC opened at $29.87 on Monday. The stock’s 50 day moving average price is $28.02 and its two-hundred day moving average price is $27.77. Evertec, Inc. has a 52-week low of $21.81 and a 52-week high of $37.71. The stock has a market capitalization of $1.78 billion, a P/E ratio of 19.40, a PEG ratio of 1.01 and a beta of 0.70. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.89.

Evertec (NYSE:EVTC) last issued its earnings results on Tuesday, August 4th. The business services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.95 by $0.10. Evertec had a return on equity of 32.07% and a net margin of 9.80%.The company had revenue of $274.82 million during the quarter, compared to analyst estimates of $262.24 million. During the same quarter last year, the firm earned $0.89 EPS. The business’s revenue was up 19.7% on a year-over-year basis. Evertec has set its FY 2026 guidance at 3.940-4.040 EPS. On average, analysts anticipate that Evertec, Inc. will post 3.34 earnings per share for the current fiscal year.

Evertec Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 3rd will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 3rd. Evertec’s payout ratio is currently 12.99%.

Insider Buying and Selling

In other Evertec news, Director Brian John Smith acquired 16,202 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was purchased at an average price of $26.42 per share, with a total value of $428,056.84. Following the completion of the acquisition, the director directly owned 88,222 shares in the company, valued at $2,330,825.24. This trade represents a 22.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EVTC has been the subject of several research analyst reports. Wall Street Zen upgraded Evertec from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings upgraded shares of Evertec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. Raymond James Financial reaffirmed an “outperform” rating and issued a $34.00 price target on shares of Evertec in a report on Thursday, May 7th. Finally, Morgan Stanley set a $34.00 price objective on shares of Evertec in a research note on Thursday. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Evertec has a consensus rating of “Hold” and a consensus target price of $35.00.

Evertec 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.