Advisors Asset Management Inc. Cuts Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Advisors Asset Management Inc. trimmed its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 43.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 374 shares of the technology company’s stock after selling 283 shares during the quarter. Advisors Asset Management Inc.’s holdings in Jack Henry & Associates were worth $66,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its stake in shares of Jack Henry & Associates by 4.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,795 shares of the technology company’s stock valued at $1,906,000 after buying an additional 453 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Jack Henry & Associates during the third quarter valued at about $618,000. Pathstone Holdings LLC grew its position in Jack Henry & Associates by 3.7% during the third quarter. Pathstone Holdings LLC now owns 18,996 shares of the technology company’s stock valued at $3,354,000 after acquiring an additional 669 shares during the period. Strengthening Families & Communities LLC increased its stake in Jack Henry & Associates by 11.1% during the third quarter. Strengthening Families & Communities LLC now owns 10,117 shares of the technology company’s stock worth $1,786,000 after acquiring an additional 1,010 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Jack Henry & Associates by 13.0% in the 3rd quarter. Quest Partners LLC now owns 4,414 shares of the technology company’s stock worth $779,000 after purchasing an additional 509 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

JKHY has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Royal Bank of Canada boosted their price objective on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods raised their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. William Blair lowered shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Oppenheimer assumed coverage on Jack Henry & Associates in a report on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 price target for the company. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Jack Henry & Associates presently has an average rating of “Hold” and an average price target of $188.73.

Jack Henry & Associates Trading Up 1.3 %

Shares of JKHY opened at $176.18 on Friday. Jack Henry & Associates, Inc. has a one year low of $154.77 and a one year high of $189.63. The stock has a 50-day moving average price of $179.07 and a 200 day moving average price of $171.49. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $12.85 billion, a P/E ratio of 32.27, a P/E/G ratio of 3.28 and a beta of 0.63.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.61 by $0.02. The company had revenue of $600.98 million during the quarter, compared to analysts’ expectations of $599.56 million. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.39 EPS. Sell-side analysts forecast that Jack Henry & Associates, Inc. will post 5.8 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Monday, December 2nd. Jack Henry & Associates’s payout ratio is currently 40.29%.

Insider Activity

In related news, insider David B. Foss sold 18,770 shares of the business’s stock in a transaction dated 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 directly owns 138,665 shares of the company’s stock, valued at $23,756,087.80. The trade was a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.37% of the company’s stock.

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.