EVERTEC reports results of annual stockholder meeting

In a recent 8-K filing with the Securities and Exchange Commission, EVERTEC, Inc., a leader in transaction processing services in Latin America and the Caribbean with a market capitalization of $2.3 billion, disclosed the outcomes of its 2025 Annual Meeting of Stockholders, which took place on May 22, 2025. InvestingPro analysis indicates the company maintains strong financial health with a perfect Piotroski Score of 9, and currently trades below its Fair Value, making it one of the potentially undervalued stocks in the financial services sector.

During the meeting, stockholders voted on three proposals, all of which were detailed in the company’s definitive proxy statement filed on April 7, 2025. The proposals included the election of directors, an advisory vote on executive compensation, and the ratification of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025.

A total of 60,531,533 shares were present at the meeting, either in person or by proxy, representing a quorum. The election of directors saw all nominees receiving a majority of votes, with the number of votes cast for each ranging from 56,173,487 to 59,098,277. All directors were elected, with broker non-votes recorded at 1,400,026 for each nominee.

The advisory vote on executive compensation passed with 57,296,416 votes for, 1,750,410 against, and 84,681 abstentions. Broker non-votes were again reported at 1,400,026.

The ratification of Deloitte & Touche LLP as the company’s independent auditor for the upcoming fiscal year was approved with a substantial majority, receiving 59,939,542 votes for, 576,275 against, and 15,716 abstentions. There were no broker non-votes on this proposal.

The results of the meeting reflect shareholder approval of the company’s executive compensation approach and the reappointment of its current auditor. This information is based on a press release statement from EVERTEC, Inc. and provides an overview of the key decisions made by its shareholders at the annual meeting. With a robust gross profit margin of 52% and strong liquidity metrics, InvestingPro data reveals EVERTEC’s solid financial foundation. For deeper insights into EVERTEC’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

In other recent news, Evertec Inc (NYSE:EVTC). reported impressive financial results for the first quarter of 2025, surpassing analysts’ expectations. The company achieved an adjusted earnings per share (EPS) of $0.87, exceeding the forecasted $0.79, while revenue reached $228.8 million, outperforming the anticipated $217.97 million. This strong performance was attributed to growth in Latin America and technological advancements, with revenue increasing by 11.4% year-over-year. Evertec’s adjusted EBITDA also rose by 14%, highlighting improved operational efficiency.

Additionally, Keefe, Bruyette & Woods raised their price target for Evertec’s stock to $44, citing the company’s strong first-quarter performance and reaffirming an Outperform rating. Analyst Vasundhara Govi expressed confidence in Evertec’s ability to maintain its growth trajectory, emphasizing the company’s consistent execution and stable consumer spending in Puerto Rico and Latin America. The company’s management echoed this optimism, providing a positive outlook for 2025, with projected revenue growth of 6.8-7.7% and a focus on mergers and acquisitions.

Evertec’s management also highlighted strong liquidity, with $460 million available, and noted that macroeconomic factors could introduce some variability in future performance. Despite potential challenges, such as foreign currency headwinds and competitive pressures, Evertec remains confident in its strategic positioning and growth prospects. The company continues to focus on expanding its market presence and enhancing its technological capabilities to drive future success.

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