Raymond James & Associates Sells 19,596 Shares of EVERTEC, Inc. (NYSE:EVTC)

Raymond James & Associates reduced its position in EVERTEC, Inc. (NYSE:EVTC) by 10.6% in the 3rd quarter, Holdings Channel reports. The firm owned 165,557 shares of the business services provider’s stock after selling 19,596 shares during the quarter. Raymond James & Associates’ holdings in EVERTEC were worth $5,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of EVTC. Opal Wealth Advisors LLC bought a new position in shares of EVERTEC during the 2nd quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of EVERTEC by 866.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock worth $81,000 after purchasing an additional 2,175 shares during the last quarter. EntryPoint Capital LLC increased its position in shares of EVERTEC by 48.9% during the 1st quarter. EntryPoint Capital LLC now owns 2,761 shares of the business services provider’s stock worth $110,000 after purchasing an additional 907 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in EVERTEC by 90.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 1,490 shares during the last quarter. Finally, nVerses Capital LLC boosted its position in EVERTEC by 68.4% in the second quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock valued at $106,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EVTC shares. Keefe, Bruyette & Woods reduced their target price on EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Susquehanna lowered EVERTEC from a “neutral” rating to a “negative” rating and reduced their price objective for the stock from $38.00 to $28.00 in a research note on Thursday, September 5th.

Insider Buying and Selling at EVERTEC

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

EVERTEC Stock Performance

EVTC stock opened at $32.70 on Friday. The company has a 50 day moving average price of $33.27 and a 200 day moving average price of $34.19. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $42.21. 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 stock has a market capitalization of $2.09 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 1.60 and a beta of 1.15.

EVERTEC (NYSE:EVTC) last released its earnings results on Wednesday, July 31st. The business services provider reported $0.73 earnings per share 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 return on equity of 32.08% and a net margin of 8.84%. Analysts forecast that EVERTEC, Inc. will post 2.53 EPS for the current year.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, October 28th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.61%. EVERTEC’s payout ratio 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.