Raymond James & Associates Has $7.05 Million Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Raymond James & Associates grew its holdings in EVERTEC, Inc. (NYSE:EVTCGet Rating) by 151.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 224,708 shares of the business services provider’s stock after purchasing an additional 135,182 shares during the quarter. Raymond James & Associates’ holdings in EVERTEC were worth $7,045,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Exchange Traded Concepts LLC boosted its holdings in EVERTEC by 2.3% in the second quarter. Exchange Traded Concepts LLC now owns 14,246 shares of the business services provider’s stock worth $525,000 after purchasing an additional 324 shares in the last quarter. Vident Investment Advisory LLC lifted its position in shares of EVERTEC by 4.6% in the first quarter. Vident Investment Advisory LLC now owns 10,040 shares of the business services provider’s stock worth $411,000 after buying an additional 444 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of EVERTEC by 31.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,450 shares of the business services provider’s stock worth $90,000 after acquiring an additional 580 shares in the last quarter. Texas Permanent School Fund increased its holdings in shares of EVERTEC by 1.4% during the 2nd quarter. Texas Permanent School Fund now owns 42,963 shares of the business services provider’s stock valued at $1,584,000 after acquiring an additional 614 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of EVERTEC by 1.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 45,676 shares of the business services provider’s stock valued at $1,431,000 after acquiring an additional 754 shares in the last quarter. Institutional investors and hedge funds own 97.74% of the company’s stock.

EVERTEC Price Performance

Shares of EVTC stock opened at $34.51 on Friday. EVERTEC, Inc. has a 12 month low of $30.17 and a 12 month high of $47.89. The company has a market capitalization of $2.25 billion, a P/E ratio of 9.53 and a beta of 0.96. The stock has a 50 day moving average of $32.67 and a two-hundred day moving average of $34.00. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.94.

EVERTEC (NYSE:EVTCGet Rating) last issued its earnings results on Wednesday, November 2nd. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.19). The firm had revenue of $145.80 million during the quarter, compared to the consensus estimate of $145.29 million. EVERTEC had a return on equity of 33.61% and a net margin of 41.09%. As a group, equities analysts expect that EVERTEC, Inc. will post 2.19 EPS for the current year.

EVERTEC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Stockholders of record on Tuesday, November 1st were paid a $0.05 dividend. The ex-dividend date was Monday, October 31st. This represents a $0.20 annualized dividend and a dividend yield of 0.58%. EVERTEC’s dividend payout ratio is currently 5.52%.

Analyst Ratings Changes

A number of brokerages have issued reports on EVTC. TheStreet cut EVERTEC from a “b-” rating to a “c+” rating in a research report on Monday, September 19th. Morgan Stanley lowered their target price on shares of EVERTEC from $31.00 to $29.00 and set an “underweight” rating on the stock in a research note on Thursday, November 3rd. Keefe, Bruyette & Woods cut their target price on shares of EVERTEC from $46.00 to $42.00 in a research report on Monday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price target on EVERTEC from $43.00 to $33.00 in a research report on Thursday, November 3rd. Finally, Raymond James cut their price objective on EVERTEC from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, November 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, EVERTEC has a consensus rating of “Hold” and a consensus price target of $38.50.

About EVERTEC

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EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; Business Solutions, and Corporate and Other segments. 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.

See Also

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Institutional Ownership by Quarter for EVERTEC (NYSE:EVTC)

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