Jennison Associates LLC Boosts Holdings in Evertec, Inc. $EVTC

Jennison Associates LLC raised its position in Evertec, Inc. (NYSE:EVTC) by 62.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,934 shares of the business services provider’s stock after purchasing an additional 23,346 shares during the period. Jennison Associates LLC owned 0.10% of Evertec worth $1,720,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Hantz Financial Services Inc. raised its position in shares of Evertec by 189.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,072 shares of the business services provider’s stock worth $31,000 after buying an additional 702 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Evertec during the fourth quarter worth about $31,000. Clearstead Advisors LLC grew its position in Evertec by 194.5% during the fourth quarter. Clearstead Advisors LLC now owns 1,240 shares of the business services provider’s stock worth $36,000 after buying an additional 819 shares in the last quarter. Richardson Financial Services Inc. increased its stake in Evertec by 73.7% in the 4th quarter. Richardson Financial Services Inc. now owns 1,325 shares of the business services provider’s stock worth $39,000 after acquiring an additional 562 shares during the last quarter. Finally, Global Retirement Partners LLC increased its stake in Evertec by 53.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,471 shares of the business services provider’s stock worth $43,000 after acquiring an additional 510 shares during the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on EVTC. Wall Street Zen lowered Evertec from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded shares of Evertec from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. Morgan Stanley dropped their target price on shares of Evertec from $29.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 19th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $34.00 price target on shares of Evertec in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Evertec currently has a consensus rating of “Hold” and an average target price of $32.75.

Evertec Price Performance

Shares of Evertec stock opened at $29.32 on Thursday. The firm has a market capitalization of $1.81 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.02 and a beta of 0.71. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.56. Evertec, Inc. has a 12 month low of $21.81 and a 12 month high of $37.71. The business’s 50-day moving average price is $26.42 and its 200-day moving average price is $27.67.

Evertec (NYSE:EVTC) last released its earnings results on Wednesday, May 6th. The business services provider reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). The firm had revenue of $247.92 million during the quarter, compared to the consensus estimate of $248.99 million. Evertec had a return on equity of 31.40% and a net margin of 13.95%.The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. Evertec has set its FY 2026 guidance at 3.860-3.980 EPS. Sell-side analysts forecast that Evertec, Inc. will post 3.34 EPS for the current fiscal year.

Evertec Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 11th were issued 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 was Monday, May 11th. Evertec’s payout ratio is presently 9.66%.

Insider Transactions at Evertec

In other Evertec news, Director Brian John Smith bought 16,202 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average price of $26.42 per share, for a total transaction of $428,056.84. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joaquin A. Castrillo-Salgado purchased 20,000 shares of the stock in a transaction on Friday, May 8th. The stock was acquired at an average cost of $22.74 per share, with a total value of $454,800.00. Following the completion of the purchase, the chief operating officer directly owned 143,987 shares of the company’s stock, valued at $3,274,264.38. The trade was a 16.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 53,202 shares of company stock worth $1,292,557. 1.13% of the stock is currently owned by insiders.

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.