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

Retirement Systems of Alabama trimmed its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,051 shares of the technology company’s stock after selling 426 shares during the quarter. Retirement Systems of Alabama’s holdings in Jack Henry & Associates were worth $2,623,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its stake in shares of Jack Henry & Associates by 3.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 8,572 shares of the technology company’s stock worth $1,296,000 after buying an additional 249 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Jack Henry & Associates by 0.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 41,501 shares of the technology company’s stock worth $6,273,000 after acquiring an additional 127 shares during the period. Brown Advisory Inc. raised its position in Jack Henry & Associates by 28.2% in the third quarter. Brown Advisory Inc. now owns 42,207 shares of the technology company’s stock worth $6,379,000 after acquiring an additional 9,273 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in Jack Henry & Associates by 11.7% in the third quarter. IFM Investors Pty Ltd now owns 14,621 shares of the technology company’s stock valued at $2,210,000 after acquiring an additional 1,531 shares during the period. Finally, Park Avenue Securities LLC purchased a new stake in shares of Jack Henry & Associates during the 3rd quarter worth $823,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Jack Henry & Associates Stock Performance

Shares of NASDAQ JKHY opened at $165.65 on Wednesday. The company has a 50-day simple moving average of $169.14 and a 200-day simple moving average of $164.24. 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 cap of $12.07 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 3.84 and a beta of 0.66. Jack Henry & Associates, Inc. has a 12 month low of $136.57 and a 12 month high of $178.37.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, May 7th. The technology company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.17 by $0.02. Jack Henry & Associates had a net margin of 17.26% and a return on equity of 22.67%. The firm had revenue of $538.56 million during the quarter, compared to analysts’ expectations of $541.80 million. During the same period in the previous year, the company earned $1.12 EPS. Jack Henry & Associates’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities analysts anticipate that Jack Henry & Associates, Inc. will post 5.12 earnings per share for the current year.

Jack Henry & Associates Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Friday, March 8th were paid a $0.55 dividend. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.52. This represents a $2.20 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, March 7th. Jack Henry & Associates’s dividend payout ratio is presently 43.05%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of Jack Henry & Associates from $180.00 to $186.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Citigroup initiated coverage on Jack Henry & Associates in a report on Thursday, January 18th. They issued a “neutral” rating and a $177.00 price target on the stock. Evercore ISI lifted their price objective on Jack Henry & Associates from $157.00 to $172.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Wolfe Research assumed coverage on Jack Henry & Associates in a report on Thursday, March 7th. They issued a “peer perform” rating on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Jack Henry & Associates has a consensus rating of “Hold” and an average price target of $174.42.

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.