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

Jennison Associates LLC trimmed its stake in Evertec, Inc. (NYSE:EVTC) by 33.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,588 shares of the business services provider’s stock after selling 18,475 shares during the quarter. Jennison Associates LLC’s holdings in Evertec were worth $1,093,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Lido Advisors LLC increased its stake in shares of Evertec by 4.3% during the 3rd quarter. Lido Advisors LLC now owns 8,746 shares of the business services provider’s stock worth $295,000 after purchasing an additional 363 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Evertec by 1.1% in the fourth quarter. State of Alaska Department of Revenue now owns 35,161 shares of the business services provider’s stock valued at $1,022,000 after purchasing an additional 384 shares during the last quarter. Amalgamated Bank lifted its stake in Evertec by 2.2% in the third quarter. Amalgamated Bank now owns 18,633 shares of the business services provider’s stock valued at $629,000 after purchasing an additional 408 shares during the last quarter. California State Teachers Retirement System grew its holdings in Evertec by 0.7% during the second quarter. California State Teachers Retirement System now owns 59,159 shares of the business services provider’s stock valued at $2,133,000 after purchasing an additional 417 shares during the period. Finally, Richardson Financial Services Inc. increased its position in Evertec by 132.6% in the third quarter. Richardson Financial Services Inc. now owns 763 shares of the business services provider’s stock worth $26,000 after buying an additional 435 shares during the last quarter. 96.80% of the stock is owned by institutional investors.

Evertec Trading Down 0.0%

Shares of EVTC stock opened at $29.19 on Monday. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.11 and a beta of 0.80. The company’s fifty day simple moving average is $28.61 and its two-hundred day simple moving average is $28.89. Evertec, Inc. has a 1 year low of $24.95 and a 1 year high of $38.56. The company has a debt-to-equity ratio of 1.69, a current ratio of 2.07 and a quick ratio of 2.07.

Evertec (NYSE:EVTC) last posted its quarterly earnings results on Tuesday, March 3rd. The business services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $244.83 million during the quarter, compared to analyst estimates of $236.83 million. Evertec had a return on equity of 33.27% and a net margin of 15.19%.The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. As a group, analysts anticipate that Evertec, Inc. will post 3.4 earnings per share for the current year.

Evertec Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Monday, May 11th will be issued a dividend of $0.05 per share. 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, May 11th. Evertec’s payout ratio is presently 9.13%.

Wall Street Analysts Forecast Growth

EVTC has been the topic of several research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Evertec in a research note on Friday, March 27th. Wall Street Zen raised Evertec from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Zacks Research cut Evertec from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Evertec currently has an average rating of “Hold” and an average target price of $35.80.

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.