Nordea Investment Management AB Sells 57,342 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Nordea Investment Management AB trimmed its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHYFree Report) by 11.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 452,563 shares of the technology company’s stock after selling 57,342 shares during the quarter. Nordea Investment Management AB owned 0.62% of Jack Henry & Associates worth $78,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Planned Solutions Inc. purchased a new stake in Jack Henry & Associates during the fourth quarter valued at approximately $33,000. Anchor Investment Management LLC purchased a new stake in shares of Jack Henry & Associates in the 4th quarter worth $35,000. VisionPoint Advisory Group LLC bought a new position in Jack Henry & Associates in the 4th quarter worth $44,000. Riverview Trust Co purchased a new position in Jack Henry & Associates during the first quarter valued at $51,000. Finally, Federated Hermes Inc. bought a new stake in Jack Henry & Associates during the third quarter valued at about $72,000. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Jack Henry & Associates Stock Performance

NASDAQ:JKHY opened at $164.34 on Tuesday. The company has a market cap of $11.98 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 3.84 and a beta of 0.63. Jack Henry & Associates, Inc. has a 1 year low of $136.57 and a 1 year high of $178.37. The stock’s 50 day simple moving average is $165.02 and its two-hundred day simple moving average is $167.73. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.39 and a quick ratio of 1.39.

Jack Henry & Associates (NASDAQ:JKHYGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.02. Jack Henry & Associates had a net margin of 17.28% and a return on equity of 22.18%. The company had revenue of $538.56 million for the quarter, compared to analysts’ expectations of $541.80 million. During the same quarter in the previous year, the business posted $1.12 earnings per share. Jack Henry & Associates’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities analysts anticipate that Jack Henry & Associates, Inc. will post 5.19 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, May 28th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Friday, May 24th. Jack Henry & Associates’s payout ratio is 42.47%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on JKHY. William Blair reaffirmed an “outperform” rating on shares of Jack Henry & Associates in a research report on Wednesday, May 8th. StockNews.com lowered shares of Jack Henry & Associates from a “buy” rating to a “hold” rating in a research report on Saturday, June 22nd. Evercore ISI increased their price objective on shares of Jack Henry & Associates from $172.00 to $175.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Robert W. Baird lifted their target price on shares of Jack Henry & Associates from $180.00 to $186.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $198.00 target price on shares of Jack Henry & Associates in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $174.67.

Read Our Latest Analysis 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.

Further Reading

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

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