Eagle Asset Management Inc. Cuts Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Eagle Asset Management Inc. decreased its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 22.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,523 shares of the technology company’s stock after selling 10,075 shares during the quarter. Eagle Asset Management Inc.’s holdings in Jack Henry & Associates were worth $6,206,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JKHY. Strategic Financial Concepts LLC acquired a new position in Jack Henry & Associates in the second quarter valued at $25,000. Tortoise Investment Management LLC raised its position in shares of Jack Henry & Associates by 76.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock worth $27,000 after purchasing an additional 71 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of Jack Henry & Associates during the 1st quarter worth approximately $30,000. Blue Trust Inc. raised its position in shares of Jack Henry & Associates by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after purchasing an additional 134 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Jack Henry & Associates in the 3rd quarter worth approximately $48,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JKHY. UBS Group boosted their price objective on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Stephens reiterated an “equal weight” rating and issued a $170.00 price objective on shares of Jack Henry & Associates in a report on Wednesday, November 6th. William Blair lowered shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods upped their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Jack Henry & Associates has an average rating of “Hold” and a consensus target price of $188.73.

Jack Henry & Associates Stock Performance

Shares of JKHY stock opened at $172.50 on Monday. The company’s fifty day simple moving average is $179.20 and its 200-day simple moving average is $171.27. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.03. The firm has a market cap of $12.59 billion, a PE ratio of 31.59, a P/E/G ratio of 3.25 and a beta of 0.63. Jack Henry & Associates, Inc. has a 12 month low of $151.93 and a 12 month high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. The business had revenue of $600.98 million for the quarter, compared to the consensus estimate of $599.56 million. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 earnings per share. Equities research analysts expect that Jack Henry & Associates, Inc. will post 5.8 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.28%. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 40.29%.

Insider Transactions at Jack Henry & Associates

In related news, insider David B. Foss sold 18,770 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total value of $3,215,676.40. Following the completion of the transaction, the insider now owns 138,665 shares in the company, valued at $23,756,087.80. This trade represents a 11.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.37% of the company’s stock.

Jack Henry & Associates Profile

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.