Texas Permanent School Fund Corp Sells 17,890 Shares of Evertec, Inc. $EVTC

Texas Permanent School Fund Corp reduced its position in shares of Evertec, Inc. (NYSE:EVTC) by 31.2% in 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’s holdings in Evertec were worth $1,421,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC lifted its position in Evertec by 24.2% during the 1st quarter. HighTower Advisors LLC now owns 36,779 shares of the business services provider’s stock worth $1,352,000 after acquiring an additional 7,156 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Evertec by 12.1% during the 1st quarter. Russell Investments Group Ltd. now owns 29,169 shares of the business services provider’s stock worth $1,073,000 after purchasing an additional 3,160 shares during the last quarter. Northern Trust Corp boosted its stake in Evertec by 7.1% during the 1st quarter. Northern Trust Corp now owns 907,660 shares of the business services provider’s stock valued at $33,375,000 after purchasing an additional 60,484 shares during the period. Hsbc Holdings PLC grew its holdings in Evertec by 35.5% in the 1st quarter. Hsbc Holdings PLC now owns 12,707 shares of the business services provider’s stock valued at $465,000 after buying an additional 3,330 shares during the last quarter. Finally, Aristides Capital LLC increased its position in Evertec by 21.5% in the 1st quarter. Aristides Capital LLC now owns 88,344 shares of the business services provider’s stock worth $3,248,000 after buying an additional 15,655 shares during the period. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EVTC. Zacks Research lowered Evertec from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Keefe, Bruyette & Woods reduced their price target on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Evertec in a report on Monday. Susquehanna cut their price objective on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Finally, Morgan Stanley decreased their target price on Evertec from $34.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.80.

Evertec Trading Up 0.1%

Shares of Evertec stock opened at $29.41 on Wednesday. Evertec, Inc. has a 52-week low of $26.72 and a 52-week high of $38.56. The firm has a market capitalization of $1.88 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 1.16 and a beta of 0.89. 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’s fifty day moving average price is $29.27 and its two-hundred day moving average price is $32.89.

Evertec Announces Dividend

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

About Evertec

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.