Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC reduced its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,440 shares of the technology company’s stock after selling 199 shares during the period. DAVENPORT & Co LLC’s holdings in Jack Henry & Associates were worth $1,052,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Morgan Stanley boosted its position in shares of Jack Henry & Associates by 117.1% in the 4th quarter. Morgan Stanley now owns 1,709,702 shares of the technology company’s stock valued at $300,155,000 after purchasing an additional 922,054 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Jack Henry & Associates by 24.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,640,497 shares of the technology company’s stock valued at $548,696,000 after purchasing an additional 726,875 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Jack Henry & Associates by 1,587.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 347,018 shares of the technology company’s stock valued at $56,706,000 after purchasing an additional 326,448 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Jack Henry & Associates by 19.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,900,968 shares of the technology company’s stock valued at $286,513,000 after purchasing an additional 304,400 shares during the period. Finally, Baird Financial Group Inc. boosted its position in shares of Jack Henry & Associates by 523.8% in the 1st quarter. Baird Financial Group Inc. now owns 246,806 shares of the technology company’s stock valued at $48,633,000 after purchasing an additional 207,243 shares during the period. 98.75% of the stock is owned by institutional investors and hedge funds.

Jack Henry & Associates Stock Up 0.4 %

JKHY opened at $170.03 on Monday. Jack Henry & Associates, Inc. has a fifty-two week low of $136.57 and a fifty-two week high of $178.37. The business has a 50-day moving average of $171.48 and a 200-day moving average of $161.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $12.39 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 3.99 and a beta of 0.66.

Jack Henry & Associates (NASDAQ:JKHY) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12. Jack Henry & Associates had a return on equity of 22.67% and a net margin of 17.26%. The company had revenue of $545.70 million during the quarter, compared to the consensus estimate of $540.34 million. During the same period last year, the business earned $1.10 EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts forecast that Jack Henry & Associates, Inc. will post 5.11 EPS for the current fiscal year.

Jack Henry & Associates Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Friday, March 8th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Jack Henry & Associates’s previous quarterly dividend of $0.52. The ex-dividend date was Thursday, March 7th. Jack Henry & Associates’s dividend payout ratio (DPR) is presently 43.05%.

Wall Street Analysts Forecast Growth

JKHY has been the subject of a number of recent analyst reports. William Blair reiterated an “outperform” rating on shares of Jack Henry & Associates in a research report on Wednesday, February 7th. Citigroup initiated 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. Evercore ISI increased their price target on Jack Henry & Associates from $157.00 to $172.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Wolfe Research initiated coverage on Jack Henry & Associates in a research report on Thursday, March 7th. They set a “peer perform” rating for the company. Finally, Royal Bank of Canada raised their price objective on Jack Henry & Associates from $161.00 to $181.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Jack Henry & Associates presently has a consensus rating of “Hold” and an average target price of $171.00.

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.