Parnassus Investments LLC Sells 117,119 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Parnassus Investments LLC lowered its position in Jack Henry & Associates, Inc. (NASDAQ:JKHYFree Report) by 14.7% during the third quarter, Holdings Channel reports. The firm owned 679,882 shares of the technology company’s stock after selling 117,119 shares during the period. Parnassus Investments LLC’s holdings in Jack Henry & Associates were worth $102,757,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fairfield Bush & CO. purchased a new stake in shares of Jack Henry & Associates during the 1st quarter valued at $104,000. American Century Companies Inc. increased its stake in shares of Jack Henry & Associates by 36.3% in the first quarter. American Century Companies Inc. now owns 6,383 shares of the technology company’s stock worth $1,258,000 after buying an additional 1,701 shares during the period. Cetera Advisor Networks LLC bought a new position in Jack Henry & Associates during the 1st quarter valued at approximately $208,000. D.A. Davidson & CO. purchased a new position in shares of Jack Henry & Associates during the first quarter valued at about $225,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Jack Henry & Associates by 4.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,744 shares of the technology company’s stock worth $1,920,000 after buying an additional 451 shares during the period. 92.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Stacey E. Zengel sold 326 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $165.10, for a total value of $53,822.60. Following the sale, the senior vice president now directly owns 5,410 shares in the company, valued at $893,191. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.58% of the company’s stock.

Jack Henry & Associates Stock Performance

Shares of JKHY stock traded down $3.04 on Monday, hitting $162.60. 62,043 shares of the stock traded hands, compared to its average volume of 470,309. The company has a market capitalization of $11.84 billion, a PE ratio of 33.46, a PEG ratio of 4.12 and a beta of 0.65. The company’s fifty day moving average is $165.02 and its 200 day moving average is $158.20. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.20 and a quick ratio of 1.20. Jack Henry & Associates, Inc. has a 1-year low of $136.57 and a 1-year high of $182.25.

Jack Henry & Associates (NASDAQ:JKHYGet Free Report) last released its earnings results on Wednesday, November 8th. The technology company reported $1.39 earnings per share (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 company had revenue of $571.40 million during the quarter, compared to the consensus estimate of $564.69 million. During the same quarter in the prior year, the firm earned $1.46 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts predict that Jack Henry & Associates, Inc. will post 5.01 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 1st were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, November 30th. Jack Henry & Associates’s dividend payout ratio is presently 42.02%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Citigroup assumed coverage on Jack Henry & Associates in a research report on Thursday, January 18th. They set a “neutral” rating and a $177.00 price objective on the stock. The Goldman Sachs Group lowered Jack Henry & Associates from a “neutral” rating to a “sell” rating and decreased their price target for the company from $165.00 to $140.00 in a report on Thursday, October 12th. UBS Group reaffirmed a “neutral” rating and set a $165.00 target price on shares of Jack Henry & Associates in a research note on Friday, October 20th. Bank of America upgraded Jack Henry & Associates from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $167.00 to $186.00 in a report on Wednesday, December 6th. Finally, StockNews.com upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Jack Henry & Associates currently has a consensus rating of “Hold” and a consensus target price of $170.46.

View Our Latest Report on JKHY

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.

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

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