Raymond James & Associates Sells 4,028 Shares of EVERTEC, Inc. (NYSE:EVTC)

Raymond James & Associates decreased its holdings in EVERTEC, Inc. (NYSE:EVTC) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 185,153 shares of the business services provider’s stock after selling 4,028 shares during the quarter. Raymond James & Associates owned approximately 0.29% of EVERTEC worth $6,156,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of EVTC. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of EVERTEC by 17.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,535 shares of the business services provider’s stock worth $636,000 after purchasing an additional 2,316 shares during the last quarter. Federated Hermes Inc. lifted its holdings in EVERTEC by 851.1% in the fourth quarter. Federated Hermes Inc. now owns 12,659 shares of the business services provider’s stock valued at $518,000 after buying an additional 11,328 shares during the period. Yousif Capital Management LLC lifted its holdings in EVERTEC by 1.6% in the fourth quarter. Yousif Capital Management LLC now owns 32,464 shares of the business services provider’s stock valued at $1,329,000 after buying an additional 500 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in EVERTEC by 10.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 69,283 shares of the business services provider’s stock valued at $2,836,000 after buying an additional 6,351 shares during the period. Finally, Truist Financial Corp lifted its holdings in EVERTEC by 1.1% in the fourth quarter. Truist Financial Corp now owns 68,032 shares of the business services provider’s stock valued at $2,785,000 after buying an additional 772 shares during the period. Institutional investors own 96.80% of the company’s stock.

EVERTEC Price Performance

Shares of NYSE EVTC opened at $33.51 on Wednesday. The firm’s 50-day moving average price is $33.33 and its 200-day moving average price is $36.00. EVERTEC, Inc. has a 1-year low of $28.76 and a 1-year high of $42.21. The firm has a market capitalization of $2.16 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.02 and a beta of 1.13. The company has a current ratio of 1.82, a quick ratio of 1.59 and a debt-to-equity ratio of 1.92.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.19. EVERTEC had a net margin of 8.84% and a return on equity of 32.08%. Equities research analysts anticipate that EVERTEC, Inc. will post 2.38 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Monday, July 29th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Monday, July 29th. EVERTEC’s payout ratio is presently 20.20%.

Analysts Set New Price Targets

EVTC has been the topic of several recent analyst reports. Susquehanna dropped their target price on shares of EVERTEC from $41.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st. Keefe, Bruyette & Woods dropped their target price on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.67.

Insider Transactions at EVERTEC

In other news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $35.10, for a total transaction of $1,263,600.00. Following the completion of the sale, the executive vice president now directly owns 39,370 shares of the company’s stock, valued at $1,381,887. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.83% of the stock is currently owned by insiders.

About EVERTEC

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.