Raymond James Financial Inc. Invests $5.36 Million in EVERTEC, Inc. (NYSE:EVTC)

Raymond James Financial Inc. acquired a new position in EVERTEC, Inc. (NYSE:EVTC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 155,105 shares of the business services provider's stock, valued at approximately $5,356,000. Raymond James Financial Inc. owned approximately 0.24% of EVERTEC as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of EVTC. FMR LLC boosted its stake in shares of EVERTEC by 36.6% during the 3rd quarter. FMR LLC now owns 9,114,244 shares of the business services provider's stock worth $308,882,000 after acquiring an additional 2,440,680 shares in the last quarter. State Street Corp lifted its holdings in shares of EVERTEC by 1.4% during the third quarter. State Street Corp now owns 2,494,349 shares of the business services provider's stock valued at $84,533,000 after purchasing an additional 34,410 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of EVERTEC by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 532,340 shares of the business services provider's stock valued at $18,382,000 after purchasing an additional 7,614 shares during the period. DF Dent & Co. Inc. increased its stake in EVERTEC by 27.5% in the 3rd quarter. DF Dent & Co. Inc. now owns 455,454 shares of the business services provider's stock worth $15,435,000 after purchasing an additional 98,341 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in EVERTEC by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider's stock worth $11,447,000 after buying an additional 33,462 shares during the period. Institutional investors and hedge funds own 96.80% of the company's stock.

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EVERTEC Stock Down 1.8 %

NYSE:EVTC traded down $0.67 during mid-day trading on Friday, reaching $36.68. The stock had a trading volume of 169,680 shares, compared to its average volume of 388,068. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market cap of $2.33 billion, a P/E ratio of 28.66, a PEG ratio of 1.43 and a beta of 1.11. The business's 50 day moving average is $34.73 and its 200 day moving average is $34.31. EVERTEC, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $39.98.

EVERTEC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 3rd were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date was Monday, March 3rd. EVERTEC's payout ratio is 11.56%.

Wall Street Analyst Weigh In

EVTC has been the topic of several recent analyst reports. William Blair reissued an "outperform" rating on shares of EVERTEC in a research note on Thursday, February 27th. Susquehanna raised EVERTEC from a "negative" rating to a "neutral" rating and upped their price target for the company from $28.00 to $30.00 in a research report on Thursday, February 27th.

Insider Buying and Selling at EVERTEC

In other news, CEO Morgan M. Schuessler sold 80,000 shares of EVERTEC stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $37.45, for a total value of $2,996,000.00. Following the transaction, the chief executive officer now owns 282,172 shares of the company's stock, valued at $10,567,341.40. This trade represents a 22.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Karla Cruz sold 2,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $36.77, for a total transaction of $73,540.00. Following the sale, the chief accounting officer now directly owns 18,065 shares of the company's stock, valued at approximately $664,250.05. This represents a 9.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,170 shares of company stock worth $7,149,206 over the last three months. Corporate insiders own 0.83% of the company's stock.

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.