SouthState Corp Sells 247 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

SouthState Corp reduced its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 34.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 469 shares of the technology company’s stock after selling 247 shares during the quarter. SouthState Corp’s holdings in Jack Henry & Associates were worth $78,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of JKHY. Vanguard Group Inc. raised its position in Jack Henry & Associates by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,688,433 shares of the technology company’s stock valued at $1,509,441,000 after purchasing an additional 39,456 shares during the period. CIBC Private Wealth Group LLC lifted its position in Jack Henry & Associates by 1.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,942,887 shares of the technology company’s stock worth $317,487,000 after buying an additional 24,910 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Jack Henry & Associates by 32.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 705,582 shares of the technology company’s stock worth $115,299,000 after buying an additional 171,477 shares during the period. TD Asset Management Inc increased its position in Jack Henry & Associates by 25.6% during the first quarter. TD Asset Management Inc now owns 684,363 shares of the technology company’s stock valued at $118,894,000 after acquiring an additional 139,582 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Jack Henry & Associates by 4.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 621,225 shares of the technology company’s stock valued at $107,925,000 after acquiring an additional 25,914 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.

Jack Henry & Associates Stock Performance

Shares of JKHY stock opened at $169.64 on Friday. The firm has a market cap of $12.37 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 3.07 and a beta of 0.63. Jack Henry & Associates, Inc. has a 52-week low of $136.57 and a 52-week high of $178.37. The company has a quick ratio of 1.39, a current ratio of 1.00 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $167.37 and its 200 day moving average is $167.80.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.08. The business had revenue of $559.91 million for the quarter, compared to the consensus estimate of $563.37 million. Jack Henry & Associates had a return on equity of 21.63% and a net margin of 17.23%. During the same period last year, the business posted $1.34 EPS. On average, sell-side analysts anticipate that Jack Henry & Associates, Inc. will post 5.79 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.20 dividend on an annualized basis and a yield of 1.30%. Jack Henry & Associates’s dividend payout ratio is presently 42.47%.

Analysts Set New Price Targets

A number of equities analysts recently commented on JKHY shares. StockNews.com raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $181.00 target price on shares of Jack Henry & Associates in a research note on Friday. Evercore ISI raised their price target on Jack Henry & Associates from $172.00 to $175.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Keefe, Bruyette & Woods boosted their price objective on Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a report on Thursday, August 22nd. Finally, Compass Point initiated coverage on Jack Henry & Associates in a research note on Wednesday. They issued a “neutral” rating and a $186.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Jack Henry & Associates presently has an average rating of “Hold” and an average target price of $177.25.

About Jack Henry & Associates

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.