Palisade Capital Management LP Makes New $4.50 Million Investment in Evertec, Inc. $EVTC

Palisade Capital Management LP purchased a new position in shares of Evertec, Inc. (NYSE:EVTC) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 162,140 shares of the business services provider’s stock, valued at approximately $4,504,000.

A number of other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Evertec during the 2nd quarter worth approximately $254,513,000. Heartland Advisors Inc. acquired a new stake in Evertec during the 2nd quarter worth approximately $23,346,000. Millennium Management LLC lifted its holdings in Evertec by 731.6% during the 3rd quarter. Millennium Management LLC now owns 686,281 shares of the business services provider’s stock worth $23,183,000 after buying an additional 603,753 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Evertec in the 2nd quarter valued at approximately $12,700,000. Finally, Voloridge Investment Management LLC boosted its position in Evertec by 151.5% in the 4th quarter. Voloridge Investment Management LLC now owns 285,693 shares of the business services provider’s stock valued at $8,311,000 after buying an additional 172,101 shares during the period. 96.80% of the stock is owned by institutional investors and hedge funds.

Evertec Stock Up 1.3%

Shares of Evertec stock opened at $29.93 on Wednesday. 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, Inc. has a 52-week low of $21.81 and a 52-week high of $36.52. The company has a market capitalization of $1.79 billion, a P/E ratio of 19.44, a P/E/G ratio of 0.84 and a beta of 0.70. The company has a 50 day moving average of $29.40 and a 200 day moving average of $27.84.

Evertec (NYSE:EVTC) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. Evertec had a net margin of 9.80% and a return on equity of 32.07%. The company had revenue of $274.82 million for the quarter, compared to the consensus estimate of $262.24 million. During the same period in the prior year, the firm posted $0.89 EPS. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. Evertec has set its FY 2026 guidance at 3.940-4.040 EPS. As a group, research analysts forecast that Evertec, Inc. will post 3.53 EPS for the current fiscal year.

Evertec Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 3rd will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, August 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. Evertec’s payout ratio is presently 12.99%.

Insider Activity at Evertec

In related news, Director Aldo J. Polak sold 1,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $29.50, for a total value of $29,500.00. Following the transaction, the director owned 17,943 shares of the company’s stock, valued at $529,318.50. This represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Brian John Smith purchased 16,202 shares of the business’s stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $26.42 per share, for a total transaction of $428,056.84. Following the completion of the purchase, the director owned 88,222 shares of the company’s stock, valued at $2,330,825.24. This represents a 22.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley set a $34.00 price objective on Evertec in a research report on Thursday, August 6th. Wall Street Zen upgraded Evertec from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings lowered Evertec from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Finally, Raymond James Financial reissued an “outperform” rating and set 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 issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.