Jennison Associates LLC Buys 23,346 Shares of Evertec, Inc. $EVTC

Jennison Associates LLC boosted its stake in Evertec, Inc. (NYSE:EVTC) by 62.1% during the first quarter, Holdings Channel.com reports. The firm owned 60,934 shares of the business services provider’s stock after buying an additional 23,346 shares during the period. Jennison Associates LLC’s holdings in Evertec were worth $1,720,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its stake in shares of Evertec by 189.7% during the fourth quarter. Hantz Financial Services Inc. now owns 1,072 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 702 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Evertec in the fourth quarter worth $31,000. Clearstead Advisors LLC raised its holdings in Evertec by 194.5% during the 4th quarter. Clearstead Advisors LLC now owns 1,240 shares of the business services provider’s stock valued at $36,000 after buying an additional 819 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in Evertec by 73.7% during the 4th quarter. Richardson Financial Services Inc. now owns 1,325 shares of the business services provider’s stock valued at $39,000 after buying an additional 562 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in Evertec by 53.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,471 shares of the business services provider’s stock valued at $43,000 after buying an additional 510 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.

Insider Activity

In related news, EVP Luis A. Rodriguez-Gonzalez purchased 17,000 shares of Evertec stock in a transaction that occurred on Thursday, May 7th. The shares were bought at an average price of $24.10 per share, for a total transaction of $409,700.00. Following the completion of the transaction, the executive vice president directly owned 80,907 shares of the company’s stock, valued at $1,949,858.70. This represents a 26.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Joaquin A. Castrillo-Salgado purchased 20,000 shares of Evertec stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of $22.74 per share, for a total transaction of $454,800.00. Following the transaction, the chief operating officer directly owned 143,987 shares of the company’s stock, valued at $3,274,264.38. This trade represents a 16.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 53,202 shares of company stock valued at $1,292,557. Corporate insiders own 1.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EVTC shares. Weiss Ratings lowered shares of Evertec from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Wall Street Zen downgraded shares of Evertec from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. 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 report on Tuesday, May 19th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $34.00 target price on shares of Evertec in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Evertec has an average rating of “Hold” and a consensus target price of $32.75.

Evertec Price Performance

Shares of Evertec stock opened at $29.32 on Thursday. The business has a 50 day moving average of $26.42 and a 200 day moving average of $27.67. Evertec, Inc. has a 52 week low of $21.81 and a 52 week high of $37.71. The company has a market cap of $1.81 billion, a PE ratio of 14.16, a P/E/G ratio of 1.02 and a beta of 0.71. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.56.

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

Evertec Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 11th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. Evertec’s payout ratio is presently 9.66%.

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.