Chevy Chase Trust Holdings LLC Cuts Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Chevy Chase Trust Holdings LLC decreased its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 1.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 39,086 shares of the technology company’s stock after selling 716 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Jack Henry & Associates were worth $6,900,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC lifted its holdings in Jack Henry & Associates by 3.6% during the third quarter. V Square Quantitative Management LLC now owns 1,567 shares of the technology company’s stock valued at $277,000 after purchasing an additional 54 shares in the last quarter. Bridges Investment Management Inc. lifted its stake in Jack Henry & Associates by 1.7% in the 3rd quarter. Bridges Investment Management Inc. now owns 3,256 shares of the technology company’s stock valued at $575,000 after buying an additional 55 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Jack Henry & Associates by 1.3% in the 2nd quarter. Raymond James Trust N.A. now owns 4,804 shares of the technology company’s stock worth $798,000 after buying an additional 60 shares during the last quarter. D.A. Davidson & CO. increased its stake in Jack Henry & Associates by 1.2% during the 3rd quarter. D.A. Davidson & CO. now owns 4,969 shares of the technology company’s stock worth $877,000 after buying an additional 61 shares in the last quarter. Finally, Advisor OS LLC raised its holdings in shares of Jack Henry & Associates by 1.0% during the second quarter. Advisor OS LLC now owns 6,624 shares of the technology company’s stock valued at $1,100,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Jack Henry & Associates Price Performance

NASDAQ:JKHY opened at $173.61 on Friday. Jack Henry & Associates, Inc. has a 52 week low of $157.00 and a 52 week high of $189.63. The stock’s fifty day moving average is $179.15 and its two-hundred day moving average is $171.63. The company has a market capitalization of $12.67 billion, a P/E ratio of 31.80, a P/E/G ratio of 3.31 and a beta of 0.61. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.03.

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

Jack Henry & Associates Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors 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 annualized dividend and a yield of 1.27%. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 40.29%.

Insiders Place Their Bets

In other Jack Henry & Associates news, insider David B. Foss sold 18,770 shares of Jack Henry & Associates stock in a transaction dated Tuesday, November 19th. The stock was 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 directly owns 138,665 shares of the company’s stock, valued at $23,756,087.80. The trade was a 11.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on JKHY. William Blair cut Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Oppenheimer initiated coverage on shares of Jack Henry & Associates in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 target price for the company. UBS Group raised their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Finally, Compass Point started coverage on Jack Henry & Associates in a report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $188.73.

About Jack Henry & Associates

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.