EVERTEC, Inc. (NYSE:EVTC) Stock Position Trimmed by Raymond James & Associates

Raymond James & Associates cut its position in EVERTEC, Inc. (NYSE:EVTC) by 10.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 165,557 shares of the business services provider’s stock after selling 19,596 shares during the quarter. Raymond James & Associates owned about 0.26% of EVERTEC worth $5,611,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of EVTC. Allspring Global Investments Holdings LLC increased its stake in EVERTEC by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,785 shares of the business services provider’s stock valued at $510,000 after buying an additional 1,077 shares during the period. BNP Paribas Financial Markets grew its stake in shares of EVERTEC by 9.7% in the 1st quarter. BNP Paribas Financial Markets now owns 59,068 shares of the business services provider’s stock worth $2,357,000 after purchasing an additional 5,203 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of EVERTEC by 19.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,073 shares of the business services provider’s stock worth $482,000 after purchasing an additional 1,946 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of EVERTEC in the 1st quarter worth approximately $868,000. Finally, Nordea Investment Management AB grew its stake in shares of EVERTEC by 29.2% in the 1st quarter. Nordea Investment Management AB now owns 217,123 shares of the business services provider’s stock worth $8,770,000 after purchasing an additional 49,115 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors.

Insider Activity at EVERTEC

In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of EVERTEC stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $34.11, for a total value of $1,364,400.00. Following the completion of the sale, the executive vice president now directly owns 129,928 shares in the company, valued at $4,431,844.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

EVTC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Susquehanna downgraded shares of EVERTEC from a “neutral” rating to a “negative” rating and cut their target price for the company from $38.00 to $28.00 in a research note on Thursday, September 5th.

EVERTEC Price Performance

Shares of EVTC opened at $32.70 on Friday. The business’s 50-day moving average is $33.27 and its 200-day moving average is $34.19. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.82 and a quick ratio of 1.82. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 1.60 and a beta of 1.15. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $42.21.

EVERTEC (NYSE:EVTC) last released its earnings results on Wednesday, July 31st. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.19. The company had revenue of $211.98 million during the quarter, compared to the consensus estimate of $209.40 million. EVERTEC had a net margin of 8.84% and a return on equity of 32.08%. Equities research analysts expect that EVERTEC, Inc. will post 2.53 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Monday, October 28th. EVERTEC’s dividend payout ratio (DPR) is presently 19.05%.

EVERTEC Company Profile

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.