Hsbc Holdings PLC Reduces Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Hsbc Holdings PLC reduced its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 9.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 174,373 shares of the technology company’s stock after selling 17,743 shares during the quarter. Hsbc Holdings PLC owned about 0.24% of Jack Henry & Associates worth $28,938,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of JKHY. Strategic Financial Concepts LLC purchased a new stake in Jack Henry & Associates in the 2nd quarter valued at $25,000. Tortoise Investment Management LLC increased its stake in Jack Henry & Associates by 76.3% in the second 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 during the period. New Covenant Trust Company N.A. purchased a new stake in shares of Jack Henry & Associates in the first quarter valued at about $30,000. Blue Trust Inc. boosted its stake in shares of Jack Henry & Associates by 148.9% during the second quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock worth $39,000 after buying an additional 134 shares during the period. Finally, Riverview Trust Co purchased a new position in shares of Jack Henry & Associates during the first quarter worth about $51,000. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on JKHY shares. Compass Point started coverage on Jack Henry & Associates in a research note on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price objective for the company. StockNews.com upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Jack Henry & Associates from $178.00 to $180.00 and gave the company a “market perform” rating in a research report on Thursday, August 22nd. Evercore ISI upped their price objective on shares of Jack Henry & Associates from $172.00 to $175.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $181.00 target price on shares of Jack Henry & Associates in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Jack Henry & Associates has an average rating of “Hold” and an average target price of $176.55.

Jack Henry & Associates Trading Down 1.1 %

Shares of JKHY opened at $173.59 on Friday. Jack Henry & Associates, Inc. has a twelve month low of $136.57 and a twelve month high of $178.37. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $12.65 billion, a P/E ratio of 33.51, a PEG ratio of 3.09 and a beta of 0.64. The firm’s 50-day moving average is $169.70 and its two-hundred day moving average is $167.83.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.08. The business had revenue of $559.91 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $1.34 EPS. On average, research analysts predict that Jack Henry & Associates, Inc. will post 5.79 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, September 6th. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 42.47%.

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.