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

Vestcor Inc decreased its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 15.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,760 shares of the technology company’s stock after selling 5,945 shares during the quarter. Vestcor Inc’s holdings in Jack Henry & Associates were worth $5,960,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JKHY. Principal Financial Group Inc. raised its holdings in shares of Jack Henry & Associates by 188.4% during the second quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock worth $46,819,000 after acquiring an additional 184,210 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Jack Henry & Associates by 51.4% during the 2nd quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock worth $83,665,000 after purchasing an additional 171,041 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Jack Henry & Associates by 2,032.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 127,654 shares of the technology company’s stock valued at $22,540,000 after buying an additional 121,667 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Jack Henry & Associates by 6,680.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,398 shares of the technology company’s stock valued at $19,158,000 after buying an additional 113,696 shares in the last quarter. Finally, Tandem Investment Advisors Inc. grew its stake in shares of Jack Henry & Associates by 20.4% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company’s stock valued at $83,496,000 after buying an additional 85,175 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Stock Up 1.0 %

JKHY opened at $174.80 on Tuesday. The business has a 50 day moving average of $179.05 and a 200-day moving average of $171.73. The stock has a market capitalization of $12.75 billion, a price-to-earnings ratio of 32.01, a P/E/G ratio of 3.26 and a beta of 0.61. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.03. Jack Henry & Associates, Inc. has a 1-year low of $157.00 and a 1-year high of $189.63.

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

Jack Henry & Associates Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 2nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.20 annualized dividend and a yield of 1.26%. Jack Henry & Associates’s dividend payout ratio is 40.29%.

Insider Buying and Selling at Jack Henry & Associates

In other news, insider David B. Foss sold 18,770 shares of Jack Henry & Associates stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the sale, the insider now directly owns 138,665 shares in the company, valued at approximately $23,756,087.80. The trade was a 11.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. William Blair cut shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Compass Point started coverage on shares of Jack Henry & Associates in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $186.00 price objective for the company. Royal Bank of Canada increased their target price on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. Stephens reaffirmed an “equal weight” rating and issued a $170.00 price target on shares of Jack Henry & Associates in a research report on Wednesday, November 6th. Finally, Robert W. Baird increased their price objective on Jack Henry & Associates from $186.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Jack Henry & Associates currently has an average rating of “Hold” and an average price target of $189.00.

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.