Retirement Systems of Alabama Trims Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Retirement Systems of Alabama reduced its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,956 shares of the technology company’s stock after selling 124 shares during the period. Retirement Systems of Alabama’s holdings in Jack Henry & Associates were worth $2,817,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in JKHY. Principal Financial Group Inc. boosted its holdings in Jack Henry & Associates by 188.4% in the second quarter. Principal Financial Group Inc. now owns 282,010 shares of the technology company’s stock valued at $46,819,000 after purchasing an additional 184,210 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Jack Henry & Associates by 51.4% in the second quarter. Mackenzie Financial Corp now owns 503,944 shares of the technology company’s stock worth $83,665,000 after buying an additional 171,041 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in Jack Henry & Associates by 2,032.2% during the third quarter. Benjamin Edwards Inc. now owns 127,654 shares of the technology company’s stock worth $22,540,000 after acquiring an additional 121,667 shares during the period. Assenagon Asset Management S.A. grew its holdings in Jack Henry & Associates by 80.0% during the third quarter. Assenagon Asset Management S.A. now owns 207,757 shares of the technology company’s stock worth $36,677,000 after acquiring an additional 92,359 shares during the period. Finally, Tandem Investment Advisors Inc. lifted its holdings in Jack Henry & Associates by 20.4% in the second quarter. Tandem Investment Advisors Inc. now owns 502,926 shares of the technology company’s stock valued at $83,496,000 after acquiring an additional 85,175 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Jack Henry & Associates

In other Jack Henry & Associates news, insider David B. Foss sold 18,770 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the transaction, the insider now owns 138,665 shares of the company’s stock, valued at approximately $23,756,087.80. The trade was a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.37% of the stock is owned by corporate insiders.

Jack Henry & Associates Price Performance

Shares of Jack Henry & Associates stock opened at $176.74 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day simple moving average of $178.41 and a two-hundred day simple moving average of $172.48. The stock has a market capitalization of $12.89 billion, a P/E ratio of 32.37, a PEG ratio of 3.37 and a beta of 0.61. Jack Henry & Associates, Inc. has a 12 month low of $157.00 and a 12 month high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.61 by $0.02. Jack Henry & Associates had a return on equity of 21.81% and a net margin of 17.79%. 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 company earned $1.39 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts predict that Jack Henry & Associates, Inc. will post 5.8 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 2nd will be given a dividend of $0.55 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 1.24%. Jack Henry & Associates’s payout ratio is presently 40.29%.

Analyst Upgrades and Downgrades

JKHY has been the topic of a number of analyst reports. 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. StockNews.com lowered 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 upped 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 report on Thursday, November 7th. UBS Group raised their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Oppenheimer initiated 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $189.00.

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.