California Public Employees Retirement System Cuts Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

California Public Employees Retirement System cut its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 2.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 579,493 shares of the technology company’s stock after selling 14,386 shares during the quarter. California Public Employees Retirement System’s holdings in Jack Henry & Associates were worth $94,753,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Dai Ichi Life Insurance Company Ltd raised its position in Jack Henry & Associates by 53.3% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 57,243 shares of the technology company’s stock valued at $9,360,000 after purchasing an additional 19,914 shares during the period. Clearbridge Investments LLC increased its position in shares of Jack Henry & Associates by 0.5% during the second quarter. Clearbridge Investments LLC now owns 266,778 shares of the technology company’s stock worth $43,621,000 after acquiring an additional 1,394 shares during the last quarter. LPL Financial LLC increased its position in shares of Jack Henry & Associates by 1.8% during the second quarter. LPL Financial LLC now owns 15,750 shares of the technology company’s stock worth $2,575,000 after acquiring an additional 278 shares during the last quarter. Stifel Financial Corp increased its position in shares of Jack Henry & Associates by 7.6% during the second quarter. Stifel Financial Corp now owns 351,245 shares of the technology company’s stock worth $57,433,000 after acquiring an additional 24,931 shares during the last quarter. Finally, Bridgewater Associates LP purchased a new stake in shares of Jack Henry & Associates during the second quarter worth about $632,000. 90.23% of the stock is currently owned by institutional investors.

Shares of JKHY stock opened at $164.84 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $171.09 and a two-hundred day moving average of $165.45. Jack Henry & Associates, Inc. has a 52 week low of $141.65 and a 52 week high of $179.98. The company has a market cap of $12.20 billion, a P/E ratio of 40.01, a PEG ratio of 3.36 and a beta of 0.60.

Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results on Monday, August 16th. The technology company reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.11. The company had revenue of $450.29 million during the quarter, compared to the consensus estimate of $445.08 million. Jack Henry & Associates had a return on equity of 21.77% and a net margin of 17.72%. Jack Henry & Associates’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. Analysts expect that Jack Henry & Associates, Inc. will post 4.57 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 29th. Stockholders of record on Thursday, September 9th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, September 8th. This represents a $1.84 annualized dividend and a dividend yield of 1.12%. Jack Henry & Associates’s dividend payout ratio is presently 44.66%.

A number of analysts have recently issued reports on the company. DA Davidson lifted their target price on Jack Henry & Associates from $192.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 19th. Royal Bank of Canada lifted their target price on Jack Henry & Associates from $171.00 to $180.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 19th. Compass Point lifted their target price on Jack Henry & Associates from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 19th. Finally, Raymond James lifted their target price on Jack Henry & Associates from $174.00 to $192.00 and gave the stock an “outperform” rating in a research report on Thursday, August 19th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $180.71.

In other Jack Henry & Associates news, Director Thomas Hampton Jr. Wilson acquired 169 shares of Jack Henry & Associates stock in a transaction dated Tuesday, August 24th. The stock was acquired at an average cost of $175.12 per share, for a total transaction of $29,595.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.84% of the company’s stock.

About Jack Henry & Associates

Jack Henry & Associates, Inc engages in the provision of technology solutions and payment processing services primarily for financial services organizations. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment focuses on 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 or member information.

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Institutional Ownership by Quarter for Jack Henry & Associates (NASDAQ:JKHY)

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