AdvisorNet Financial Inc Sells 309 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

AdvisorNet Financial Inc lowered its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHYGet Rating) by 25.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 912 shares of the technology company’s stock after selling 309 shares during the quarter. AdvisorNet Financial Inc’s holdings in Jack Henry & Associates were worth $164,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. APG Asset Management N.V. raised its holdings in shares of Jack Henry & Associates by 160.9% in the first quarter. APG Asset Management N.V. now owns 4,422,791 shares of the technology company’s stock valued at $783,275,000 after purchasing an additional 2,727,700 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Jack Henry & Associates by 77.7% in the first quarter. JPMorgan Chase & Co. now owns 1,040,077 shares of the technology company’s stock valued at $204,945,000 after purchasing an additional 454,724 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Jack Henry & Associates by 215.8% in the first quarter. Lord Abbett & CO. LLC now owns 642,639 shares of the technology company’s stock valued at $126,632,000 after purchasing an additional 439,114 shares during the last quarter. Scout Investments Inc. acquired a new stake in shares of Jack Henry & Associates in the first quarter valued at approximately $53,900,000. Finally, Walker Asset Management LLC acquired a new stake in shares of Jack Henry & Associates in the first quarter valued at approximately $48,884,000. Institutional investors own 90.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. DA Davidson downgraded shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating and set a $210.00 price objective on the stock. in a report on Thursday, August 18th. Royal Bank of Canada lifted their price objective on shares of Jack Henry & Associates from $190.00 to $199.00 and gave the company a “sector perform” rating in a report on Thursday, August 18th. Evercore ISI boosted their target price on shares of Jack Henry & Associates to $175.00 in a report on Tuesday, August 23rd. Credit Suisse Group boosted their target price on shares of Jack Henry & Associates from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, August 18th. Finally, StockNews.com downgraded shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 25th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $184.00.

Jack Henry & Associates Price Performance

Shares of JKHY opened at $189.56 on Wednesday. Jack Henry & Associates, Inc. has a 1-year low of $147.50 and a 1-year high of $212.62. The company has a market cap of $13.82 billion, a price-to-earnings ratio of 38.37, a PEG ratio of 4.32 and a beta of 0.65. The company’s fifty day simple moving average is $199.44 and its 200 day simple moving average is $191.31. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.08.

Jack Henry & Associates (NASDAQ:JKHYGet Rating) last released its quarterly earnings data on Tuesday, August 16th. The technology company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. Jack Henry & Associates had a net margin of 18.68% and a return on equity of 26.99%. The firm had revenue of $482.67 million for the quarter, compared to the consensus estimate of $480.30 million. During the same period in the previous year, the company earned $1.04 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, research analysts forecast that Jack Henry & Associates, Inc. will post 4.92 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Friday, September 9th will be issued a $0.49 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.96 annualized dividend and a dividend yield of 1.03%. Jack Henry & Associates’s dividend payout ratio is currently 39.68%.

About Jack Henry & Associates

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Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. It operates through four segments: Core, Payments, Complementary, and Corporate and Other. The company offers information and transaction processing solutions for banks ranging from community to multi-billion-dollar asset institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.

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Institutional Ownership by Quarter for Jack Henry & Associates (NASDAQ:JKHY)

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