Jack Henry & Associates, Inc. (NASDAQ:JKHY) Stock Position Lessened by Intech Investment Management LLC

Intech Investment Management LLC reduced its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,867 shares of the technology company’s stock after selling 669 shares during the quarter. Intech Investment Management LLC’s holdings in Jack Henry & Associates were worth $2,625,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of JKHY. Strategic Financial Concepts LLC bought a new stake in shares of Jack Henry & Associates during the 2nd quarter worth about $25,000. Tortoise Investment Management LLC raised its holdings in Jack Henry & Associates by 76.3% during the second quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock worth $27,000 after purchasing an additional 71 shares in the last quarter. New Covenant Trust Company N.A. acquired a new stake in Jack Henry & Associates in the first quarter worth approximately $30,000. Blue Trust Inc. boosted its stake in Jack Henry & Associates by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock valued at $39,000 after purchasing an additional 134 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Jack Henry & Associates during the 3rd quarter valued at $48,000. 98.75% of the stock is currently owned by institutional investors.

Jack Henry & Associates Stock Performance

Shares of JKHY stock opened at $172.50 on Friday. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 31.59, a P/E/G ratio of 3.25 and a beta of 0.63. Jack Henry & Associates, Inc. has a 1-year low of $151.93 and a 1-year 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 stock’s fifty day simple moving average is $179.20 and its 200-day simple moving average is $171.23.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The company had revenue of $600.98 million during the quarter, compared to the consensus estimate of $599.56 million. During the same quarter in the prior year, the firm earned $1.39 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Jack Henry & Associates, Inc. will post 5.8 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be paid a $0.55 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 1.28%. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 40.29%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on JKHY shares. Stephens reaffirmed an “equal weight” rating and set a $170.00 target price on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. Royal Bank of Canada raised their price objective on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Robert W. Baird boosted their target price on shares of Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. William Blair cut shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Compass Point assumed coverage on Jack Henry & Associates in a report on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $188.73.

Insiders Place Their Bets

In related news, insider David B. Foss sold 18,770 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total value of $3,215,676.40. Following the completion of the sale, the insider now owns 138,665 shares of the company’s stock, valued at approximately $23,756,087.80. The trade was a 11.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.37% of the company’s stock.

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.