Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Sold by BlackRock Inc.

BlackRock Inc. cut its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,331,197 shares of the technology company’s stock after selling 36,892 shares during the period. BlackRock Inc. owned 9.91% of Jack Henry & Associates worth $1,202,757,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stifel Financial Corp increased its position in Jack Henry & Associates by 7.6% in the second quarter. Stifel Financial Corp now owns 351,245 shares of the technology company’s stock worth $57,433,000 after buying an additional 24,931 shares during the period. Royal Bank of Canada increased its position in Jack Henry & Associates by 4.6% in the second quarter. Royal Bank of Canada now owns 218,336 shares of the technology company’s stock worth $35,699,000 after buying an additional 9,694 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in Jack Henry & Associates by 12.4% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,837,661 shares of the technology company’s stock worth $463,990,000 after buying an additional 313,011 shares during the period. PGGM Investments increased its position in Jack Henry & Associates by 1,853.5% in the third quarter. PGGM Investments now owns 21,703 shares of the technology company’s stock worth $3,561,000 after buying an additional 20,592 shares during the period. Finally, Man Group plc increased its position in Jack Henry & Associates by 85.5% in the second quarter. Man Group plc now owns 53,348 shares of the technology company’s stock worth $8,723,000 after buying an additional 24,596 shares during the period. 89.17% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently issued reports on JKHY. Stephens began coverage on Jack Henry & Associates in a research note on Thursday, November 18th. They issued an “equal weight” rating and a $165.00 price target for the company. Credit Suisse Group increased their price target on Jack Henry & Associates from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 10th. Raymond James cut Jack Henry & Associates from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 15th. Finally, UBS Group began coverage on Jack Henry & Associates in a research note on Wednesday, November 17th. They issued a “neutral” rating and a $162.00 price target for the company. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Jack Henry & Associates presently has a consensus rating of “Hold” and an average price target of $176.75.

Shares of JKHY stock opened at $168.94 on Friday. The stock has a 50-day simple moving average of $161.24 and a 200 day simple moving average of $167.06. Jack Henry & Associates, Inc. has a fifty-two week low of $141.65 and a fifty-two week high of $179.98. The stock has a market capitalization of $12.51 billion, a P/E ratio of 39.20, a P/E/G ratio of 2.56 and a beta of 0.62. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.05.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Monday, November 8th. The technology company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.06. Jack Henry & Associates had a return on equity of 23.13% and a net margin of 17.96%. The business had revenue of $488.10 million during the quarter, compared to analysts’ expectations of $489.98 million. During the same quarter last year, the business posted $1.19 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that Jack Henry & Associates, Inc. will post 4.7 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 23rd. Investors of record on Friday, December 3rd were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, December 2nd. This represents a $1.84 annualized dividend and a yield of 1.09%. Jack Henry & Associates’s dividend payout ratio is currently 42.69%.

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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