ING Groep NV Trims Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

ING Groep NV reduced its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 10.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,297 shares of the technology company’s stock after selling 378 shares during the period. ING Groep NV’s holdings in Jack Henry & Associates were worth $578,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JKHY. Fortitude Family Office LLC increased its stake in shares of Jack Henry & Associates by 647.4% in the fourth quarter. Fortitude Family Office LLC now owns 142 shares of the technology company’s stock worth $25,000 after purchasing an additional 123 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Jack Henry & Associates in the third quarter worth $26,000. ORG Partners LLC purchased a new stake in shares of Jack Henry & Associates in the fourth quarter worth $35,000. Manchester Capital Management LLC increased its stake in shares of Jack Henry & Associates by 11,750.0% in the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the technology company’s stock worth $42,000 after purchasing an additional 235 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Jack Henry & Associates in the third quarter worth $48,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Jack Henry & Associates Price Performance

JKHY stock opened at $172.61 on Tuesday. Jack Henry & Associates, Inc. has a 52 week low of $157.00 and a 52 week high of $189.63. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $173.30 and a two-hundred day simple moving average of $174.95. The firm has a market capitalization of $12.58 billion, a P/E ratio of 31.16, a price-to-earnings-growth ratio of 3.36 and a beta of 0.61.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. Analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $2.32 annualized dividend and a yield of 1.34%. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s dividend payout ratio (DPR) is 41.88%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. StockNews.com cut shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Wells Fargo & Company assumed coverage on shares of Jack Henry & Associates in a research note on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price objective for the company. Stephens reaffirmed an “equal weight” rating and set a $170.00 target price on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. Finally, UBS Group raised their target price 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Jack Henry & Associates presently has an average rating of “Hold” and an average target price of $186.80.

Jack Henry & Associates Company Profile

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.