Brown Capital Management LLC Cuts Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Brown Capital Management LLC decreased its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 67.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,794 shares of the technology company’s stock after selling 10,141 shares during the quarter. Brown Capital Management LLC’s holdings in Jack Henry & Associates were worth $846,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of JKHY. Strategic Financial Concepts LLC acquired a new position in Jack Henry & Associates during the 2nd quarter worth approximately $25,000. Tortoise Investment Management LLC grew its holdings in Jack Henry & Associates by 76.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock valued at $27,000 after purchasing an additional 71 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in Jack Henry & Associates in the 1st quarter worth $30,000. Blue Trust Inc. lifted its holdings in Jack Henry & Associates by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after buying an additional 134 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Jack Henry & Associates during the third quarter valued at about $48,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Jack Henry & Associates Stock Performance

Shares of NASDAQ JKHY opened at $171.12 on Thursday. Jack Henry & Associates, Inc. has a 12-month low of $151.77 and a 12-month high of $189.63. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.03. The company has a market cap of $12.48 billion, a PE ratio of 31.34, a P/E/G ratio of 3.23 and a beta of 0.63. The stock has a 50 day simple moving average of $179.34 and a 200-day simple moving average of $171.17.

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

Jack Henry & Associates Dividend Announcement

The company 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 dividend of $0.55 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.20 annualized dividend and a yield of 1.29%. Jack Henry & Associates’s payout ratio is 40.29%.

Analysts Set New Price Targets

A number of brokerages have weighed in on JKHY. Keefe, Bruyette & Woods raised their price objective on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. William Blair downgraded shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Compass Point began coverage on shares of Jack Henry & Associates in a research report on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target on the stock. Finally, Stephens reissued an “equal weight” rating and issued a $170.00 price objective on shares of Jack Henry & Associates in a report on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $188.73.

Jack Henry & Associates Profile

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.