Pinnacle Financial Partners Inc Sells 222 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Pinnacle Financial Partners Inc decreased its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHYFree Report) by 4.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,321 shares of the technology company’s stock after selling 222 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Jack Henry & Associates were worth $653,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in JKHY. NBC Securities Inc. bought a new position in Jack Henry & Associates in the third quarter worth approximately $30,000. Signaturefd LLC lifted its position in shares of Jack Henry & Associates by 17.1% during the third quarter. Signaturefd LLC now owns 1,274 shares of the technology company’s stock valued at $193,000 after buying an additional 186 shares during the last quarter. West Coast Financial LLC boosted its holdings in shares of Jack Henry & Associates by 2.7% in the 3rd quarter. West Coast Financial LLC now owns 41,717 shares of the technology company’s stock valued at $6,305,000 after buying an additional 1,087 shares in the last quarter. Advisor OS LLC raised its stake in shares of Jack Henry & Associates by 5.4% during the 3rd quarter. Advisor OS LLC now owns 6,279 shares of the technology company’s stock worth $949,000 after acquiring an additional 319 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Jack Henry & Associates by 19.2% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,879 shares of the technology company’s stock worth $284,000 after acquiring an additional 303 shares in the last quarter. 92.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on JKHY. Royal Bank of Canada cut their price target on shares of Jack Henry & Associates from $181.00 to $161.00 and set a “sector perform” rating on the stock in a report on Thursday, November 9th. Oppenheimer dropped their price target on Jack Henry & Associates from $180.00 to $168.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 18th. The Goldman Sachs Group lowered shares of Jack Henry & Associates from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $165.00 to $140.00 in a research report on Thursday, October 12th. Citigroup started coverage on shares of Jack Henry & Associates in a research report on Thursday, January 18th. They set a “neutral” rating and a $177.00 target price on the stock. Finally, Bank of America raised shares of Jack Henry & Associates from a “neutral” rating to a “buy” rating and raised their price target for the stock from $167.00 to $186.00 in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $169.54.

Read Our Latest Research Report on Jack Henry & Associates

Jack Henry & Associates Stock Performance

Jack Henry & Associates stock traded up $1.28 during midday trading on Friday, hitting $169.57. 398,560 shares of the company were exchanged, compared to its average volume of 404,598. The business has a fifty day simple moving average of $163.26 and a two-hundred day simple moving average of $158.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market capitalization of $12.34 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 4.13 and a beta of 0.66. Jack Henry & Associates, Inc. has a fifty-two week low of $136.57 and a fifty-two week high of $184.18.

Jack Henry & Associates (NASDAQ:JKHYGet Free Report) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. Jack Henry & Associates had a net margin of 17.07% and a return on equity of 22.91%. The business had revenue of $571.40 million for the quarter, compared to analysts’ expectations of $564.69 million. During the same quarter last year, the company earned $1.46 EPS. The business’s revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts forecast that Jack Henry & Associates, Inc. will post 5.02 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 1st were given a $0.52 dividend. The ex-dividend date was Thursday, November 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.23%. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 42.02%.

Insider Transactions at Jack Henry & Associates

In other news, SVP Stacey E. Zengel sold 326 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $165.10, for a total value of $53,822.60. Following the completion of the sale, the senior vice president now directly owns 5,410 shares in the company, valued at $893,191. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.58% of the company’s stock.

Jack Henry & Associates Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding JKHY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jack Henry & Associates, Inc. (NASDAQ:JKHYFree Report).

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

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