Royal Bank of Canada Reduces Position in Jack Henry & Associates, Inc. $JKHY

Royal Bank of Canada decreased its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 20.6% during the 1st quarter, Holdings Channel reports. The firm owned 184,190 shares of the technology company’s stock after selling 47,731 shares during the period. Royal Bank of Canada’s holdings in Jack Henry & Associates were worth $29,109,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in JKHY. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Jack Henry & Associates by 160.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,350,393 shares of the technology company’s stock valued at $246,420,000 after buying an additional 831,372 shares during the last quarter. Norges Bank bought a new position in shares of Jack Henry & Associates during the fourth quarter valued at about $128,744,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Jack Henry & Associates by 6,728.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 621,546 shares of the technology company’s stock valued at $113,420,000 after acquiring an additional 612,444 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Jack Henry & Associates by 560.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 557,078 shares of the technology company’s stock worth $101,656,000 after purchasing an additional 472,698 shares during the period. Finally, UBS Group AG boosted its holdings in shares of Jack Henry & Associates by 75.7% during the third quarter. UBS Group AG now owns 847,002 shares of the technology company’s stock worth $126,144,000 after purchasing an additional 364,878 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JKHY has been the topic of a number of recent analyst reports. Morgan Stanley set a $170.00 price objective on Jack Henry & Associates in a research report on Friday, May 8th. DA Davidson reaffirmed a “buy” rating and issued a $198.00 target price on shares of Jack Henry & Associates in a research report on Monday, May 11th. The Goldman Sachs Group reduced their price target on shares of Jack Henry & Associates from $180.00 to $161.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Barclays began coverage on shares of Jack Henry & Associates in a report on Tuesday, July 7th. They issued an “overweight” rating and a $170.00 price objective for the company. Finally, Wolfe Research set a $165.00 price objective on Jack Henry & Associates in a research report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Jack Henry & Associates currently has a consensus rating of “Moderate Buy” and an average price target of $186.07.

Jack Henry & Associates Price Performance

Shares of NASDAQ:JKHY opened at $156.63 on Wednesday. The company has a market capitalization of $11.13 billion, a PE ratio of 21.91, a PEG ratio of 2.20 and a beta of 0.55. The business has a fifty day moving average price of $140.66 and a 200-day moving average price of $153.51. Jack Henry & Associates, Inc. has a 1-year low of $121.04 and a 1-year high of $193.39. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.28. Jack Henry & Associates had a net margin of 20.64% and a return on equity of 24.03%. The business had revenue of $615.93 million during the quarter, compared to analyst estimates of $619.67 million. During the same period last year, the business earned $1.52 EPS. Jack Henry & Associates’s revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts expect that Jack Henry & Associates, Inc. will post 6.84 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Monday, June 1st were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 1st. Jack Henry & Associates’s dividend payout ratio is presently 34.13%.

Insider Buying and Selling at Jack Henry & Associates

In other Jack Henry & Associates news, CEO Gregory R. Adelson acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $133.42 per share, with a total value of $266,840.00. Following the completion of the transaction, the chief executive officer directly owned 21,036 shares of the company’s stock, valued at approximately $2,806,623.12. This represents a 10.51% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mimi Carsley acquired 375 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $134.12 per share, for a total transaction of $50,295.00. Following the transaction, the chief financial officer owned 6,007 shares of the company’s stock, valued at $805,658.84. This trade represents a 6.66% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.60% of the company’s stock.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a leading provider of technology solutions and payment processing services for the financial services industry. Founded in 1976 and headquartered in Monett, Missouri, the company develops and supports a comprehensive suite of software and services designed to help banks, credit unions and other financial institutions streamline operations, improve customer engagement and manage risk.

The company’s core processing platforms deliver end-to-end account processing, general ledger, deposit operations and loan servicing functionality.