Jack Henry & Associates, Inc. (NASDAQ:JKHY) Stock Position Reduced by Laurus Investment Counsel Inc.

Laurus Investment Counsel Inc. cut its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 1.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 70,894 shares of the technology company’s stock after selling 1,010 shares during the period. Jack Henry & Associates comprises approximately 5.6% of Laurus Investment Counsel Inc.’s holdings, making the stock its 8th largest position. Laurus Investment Counsel Inc. owned approximately 0.10% of Jack Henry & Associates worth $11,585,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JKHY. Morgan Stanley grew its position in Jack Henry & Associates by 117.1% in the fourth quarter. Morgan Stanley now owns 1,709,702 shares of the technology company’s stock worth $300,155,000 after acquiring an additional 922,054 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Jack Henry & Associates by 24.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,640,497 shares of the technology company’s stock worth $548,696,000 after acquiring an additional 726,875 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Jack Henry & Associates by 1,587.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 347,018 shares of the technology company’s stock worth $56,706,000 after acquiring an additional 326,448 shares in the last quarter. JPMorgan Chase & Co. grew its position in Jack Henry & Associates by 19.1% in the first quarter. JPMorgan Chase & Co. now owns 1,900,968 shares of the technology company’s stock worth $286,513,000 after acquiring an additional 304,400 shares in the last quarter. Finally, Baird Financial Group Inc. grew its position in Jack Henry & Associates by 523.8% in the first quarter. Baird Financial Group Inc. now owns 246,806 shares of the technology company’s stock worth $48,633,000 after acquiring an additional 207,243 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Jack Henry & Associates Stock Up 3.5 %

Shares of NASDAQ:JKHY opened at $172.26 on Thursday. Jack Henry & Associates, Inc. has a 12 month low of $136.57 and a 12 month high of $178.37. The company’s 50-day moving average price is $170.99 and its two-hundred day moving average price is $160.45. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.15. The firm has a market cap of $12.55 billion, a P/E ratio of 33.71, a P/E/G ratio of 3.90 and a beta of 0.66.

Jack Henry & Associates (NASDAQ:JKHY) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12. Jack Henry & Associates had a net margin of 17.26% and a return on equity of 22.67%. The firm had revenue of $545.70 million for the quarter, compared to analyst estimates of $540.34 million. During the same quarter in the prior year, the firm earned $1.10 EPS. The company’s revenue was up 8.0% on a year-over-year basis. As a group, research analysts forecast that Jack Henry & Associates, Inc. will post 5.11 EPS for the current fiscal year.

Jack Henry & Associates Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Friday, March 8th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, March 7th. Jack Henry & Associates’s dividend payout ratio (DPR) is currently 43.05%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on JKHY. Evercore ISI boosted their price objective on shares of Jack Henry & Associates from $157.00 to $172.00 and gave the stock an “in-line” rating in a research note on Tuesday. Wolfe Research began coverage on shares of Jack Henry & Associates in a research note on Thursday, March 7th. They issued a “peer perform” rating for the company. Robert W. Baird restated a “neutral” rating and issued a $176.00 price objective on shares of Jack Henry & Associates in a research note on Tuesday, January 30th. William Blair restated an “outperform” rating on shares of Jack Henry & Associates in a research note on Wednesday, February 7th. Finally, Citigroup assumed coverage on shares of Jack Henry & Associates in a research note on Thursday, January 18th. They issued a “neutral” rating and a $177.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $171.00.

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.