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) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Mitsubishi UFJ Asset Management UK Ltd. lifted its holdings in shares of EVERTEC by 100.0% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 40,000 shares of the business services provider's stock worth $1,381,000 after acquiring an additional 20,000 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in EVERTEC by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider's stock worth $11,447,000 after purchasing an additional 33,462 shares during the last quarter. KBC Group NV boosted its position in shares of EVERTEC by 34.8% during the fourth quarter. KBC Group NV now owns 3,188 shares of the business services provider's stock valued at $110,000 after buying an additional 823 shares during the period. New York State Common Retirement Fund boosted its position in shares of EVERTEC by 43.4% during the fourth quarter. New York State Common Retirement Fund now owns 129,235 shares of the business services provider's stock valued at $4,462,000 after buying an additional 39,139 shares during the period. Finally, Amundi grew its stake in shares of EVERTEC by 83.0% during the fourth quarter. Amundi now owns 43,416 shares of the business services provider's stock valued at $1,459,000 after buying an additional 19,693 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors.

EVERTEC Trading Down 0.1 %

Shares of NYSE EVTC traded down $0.04 during trading hours on Thursday, reaching $33.90. The stock had a trading volume of 34,136 shares, compared to its average volume of 381,779. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $38.42. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 26.51, a P/E/G ratio of 1.43 and a beta of 1.00. The business's fifty day moving average price is $35.13 and its two-hundred day moving average price is $34.34. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84.

EVERTEC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 3rd were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Monday, March 3rd. EVERTEC's payout ratio is 11.56%.

Insider Activity at EVERTEC

In related news, CAO Karla Cruz sold 2,000 shares of the firm's stock in a transaction dated 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 owns 18,065 shares of the company's stock, valued at $664,250.05. This trade represents a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Morgan M. Schuessler sold 80,000 shares of EVERTEC stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 282,172 shares in the company, valued at $10,567,341.40. This trade represents a 22.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,170 shares of company stock worth $7,149,206 over the last three months. 0.63% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EVTC shares. Susquehanna upgraded EVERTEC from a "negative" rating to a "neutral" rating and boosted their price objective for the company from $28.00 to $30.00 in a report on Thursday, February 27th. William Blair reissued an "outperform" rating on shares of EVERTEC in a research note on Thursday, February 27th.

EVERTEC 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.