B. Riley Wealth Advisors Inc. Trims Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

B. Riley Wealth Advisors Inc. reduced its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 40.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,063 shares of the technology company’s stock after selling 3,394 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Jack Henry & Associates were worth $841,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its position in Jack Henry & Associates by 3.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,216 shares of the technology company’s stock valued at $1,364,000 after purchasing an additional 254 shares during the period. Silver Lake Advisory LLC increased its position in Jack Henry & Associates by 2.1% during the 2nd quarter. Silver Lake Advisory LLC now owns 32,580 shares of the technology company’s stock valued at $5,409,000 after purchasing an additional 682 shares during the period. Creative Planning grew its position in shares of Jack Henry & Associates by 80.8% in the 2nd quarter. Creative Planning now owns 19,788 shares of the technology company’s stock worth $3,285,000 after buying an additional 8,843 shares during the period. Goodman Advisory Group LLC grew its position in shares of Jack Henry & Associates by 1.7% in the 2nd quarter. Goodman Advisory Group LLC now owns 13,876 shares of the technology company’s stock worth $2,304,000 after buying an additional 231 shares during the period. Finally, Scientech Research LLC purchased a new stake in shares of Jack Henry & Associates in the 2nd quarter worth about $471,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Jack Henry & Associates Stock Performance

Shares of Jack Henry & Associates stock opened at $182.14 on Friday. The stock has a market cap of $13.28 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 3.09 and a beta of 0.64. The firm’s 50-day moving average is $171.45 and its 200 day moving average is $168.17. Jack Henry & Associates, Inc. has a 1 year low of $136.57 and a 1 year high of $184.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00.

Jack Henry & Associates (NASDAQ:JKHY) last posted its earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 17.23% and a return on equity of 21.63%. During the same quarter in the prior year, the business earned $1.34 EPS. Sell-side analysts anticipate that Jack Henry & Associates, Inc. will post 5.82 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Friday, September 6th. Jack Henry & Associates’s dividend payout ratio is currently 42.47%.

Analyst Ratings Changes

JKHY has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on shares of Jack Henry & Associates from $178.00 to $180.00 and gave the stock a “market perform” rating in a research report on Thursday, August 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $181.00 target price on shares of Jack Henry & Associates in a research report on Friday, September 6th. StockNews.com raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Oppenheimer initiated coverage on shares of Jack Henry & Associates in a research report on Tuesday. They issued an “outperform” rating and a $206.00 target price on the stock. Finally, Compass Point initiated coverage on shares of Jack Henry & Associates in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $180.00.

Jack Henry & Associates Company 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.