NewEdge Wealth LLC Cuts Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

NewEdge Wealth LLC lessened its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,676 shares of the technology company’s stock after selling 723 shares during the quarter. NewEdge Wealth LLC’s holdings in Jack Henry & Associates were worth $5,553,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. National Pension Service purchased a new stake in Jack Henry & Associates in the fourth quarter worth about $27,000. Illinois Municipal Retirement Fund grew its holdings in Jack Henry & Associates by 4.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 41,908 shares of the technology company’s stock worth $7,346,000 after purchasing an additional 1,930 shares during the period. Los Angeles Capital Management LLC grew its holdings in Jack Henry & Associates by 12.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 13,419 shares of the technology company’s stock worth $2,352,000 after purchasing an additional 1,538 shares during the period. Bank of New York Mellon Corp grew its holdings in Jack Henry & Associates by 11.1% in the fourth quarter. Bank of New York Mellon Corp now owns 706,048 shares of the technology company’s stock worth $123,770,000 after purchasing an additional 70,540 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Jack Henry & Associates in the fourth quarter worth about $3,040,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on JKHY. Wells Fargo & Company assumed coverage on shares of Jack Henry & Associates in a report on Tuesday, January 14th. They issued an “underweight” rating and a $155.00 price objective on the stock. Keefe, Bruyette & Woods upped their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Stephens reiterated an “equal weight” rating and issued a $170.00 target price on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. Royal Bank of Canada upped their target price 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. Finally, UBS Group upped their target price 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $186.80.

Jack Henry & Associates Stock Up 0.1 %

Shares of Jack Henry & Associates stock opened at $171.87 on Friday. The company has a market cap of $12.53 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 3.36 and a beta of 0.61. The company’s 50 day moving average is $173.13 and its 200 day moving average is $174.98. Jack Henry & Associates, Inc. has a twelve month low of $157.00 and a twelve month 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.

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

Jack Henry & Associates Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, March 6th. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.55. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 41.88%.

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.