State Board of Administration of Florida Retirement System Cuts Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

State Board of Administration of Florida Retirement System decreased its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHYFree Report) by 5.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 86,972 shares of the technology company’s stock after selling 5,480 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Jack Henry & Associates were worth $13,145,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC raised its position in Jack Henry & Associates by 1.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,696,012 shares of the technology company’s stock worth $618,454,000 after acquiring an additional 55,515 shares in the last quarter. State Street Corp increased its position in shares of Jack Henry & Associates by 0.6% in the second quarter. State Street Corp now owns 3,223,752 shares of the technology company’s stock valued at $539,430,000 after buying an additional 19,148 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Jack Henry & Associates by 12.8% in the second quarter. JPMorgan Chase & Co. now owns 2,145,062 shares of the technology company’s stock valued at $358,933,000 after buying an additional 244,094 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Jack Henry & Associates by 3.6% in the second quarter. Geode Capital Management LLC now owns 1,775,394 shares of the technology company’s stock valued at $296,449,000 after buying an additional 62,014 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Jack Henry & Associates by 117.1% in the fourth quarter. Morgan Stanley now owns 1,709,702 shares of the technology company’s stock valued at $300,155,000 after buying an additional 922,054 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Jack Henry & Associates Price Performance

JKHY stock opened at $175.71 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.15. Jack Henry & Associates, Inc. has a 52-week low of $136.57 and a 52-week high of $178.37. The stock’s 50 day moving average is $166.25 and its two-hundred day moving average is $158.10. The company has a market capitalization of $12.80 billion, a PE ratio of 34.39, a P/E/G ratio of 4.12 and a beta of 0.65.

Jack Henry & Associates (NASDAQ:JKHYGet Free Report) last issued its earnings results on Wednesday, February 7th. The technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.14 by $0.12. The company had revenue of $545.70 million during the quarter, compared to analyst estimates of $540.34 million. Jack Henry & Associates had a return on equity of 22.67% and a net margin of 17.26%. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.10 EPS. Analysts predict that Jack Henry & Associates, Inc. will post 5.12 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Investors of record on Friday, March 8th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.25%. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.52. Jack Henry & Associates’s payout ratio is currently 40.70%.

Insider Activity at Jack Henry & Associates

In other Jack Henry & Associates news, SVP Stacey E. Zengel sold 326 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $165.10, for a total transaction of $53,822.60. Following the completion of the transaction, the senior vice president now owns 5,410 shares in the company, valued at approximately $893,191. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on JKHY shares. Citigroup started coverage on Jack Henry & Associates in a research report on Thursday, January 18th. They issued a “neutral” rating and a $177.00 price target for the company. TheStreet upgraded Jack Henry & Associates from a “c+” rating to a “b-” rating in a research report on Friday, December 29th. Royal Bank of Canada raised their price target on Jack Henry & Associates from $161.00 to $181.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. UBS Group reaffirmed a “neutral” rating and set a $165.00 price objective on shares of Jack Henry & Associates in a research note on Friday, October 20th. Finally, Bank of America raised Jack Henry & Associates from a “neutral” rating to a “buy” rating and increased their price objective for the company from $167.00 to $186.00 in a research note on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $170.92.

View Our Latest Research Report on Jack Henry & Associates

About Jack Henry & Associates

(Free Report)

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.

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

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