Bank of America Corp DE Lowers Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Bank of America Corp DE cut its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 41.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 236,363 shares of the technology company's stock after selling 170,137 shares during the period. Bank of America Corp DE owned about 0.32% of Jack Henry & Associates worth $41,434,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Franklin Resources Inc. lifted its position in shares of Jack Henry & Associates by 5.6% in the 3rd quarter. Franklin Resources Inc. now owns 8,981 shares of the technology company's stock worth $1,655,000 after purchasing an additional 475 shares during the period. JPMorgan Chase & Co. raised its stake in Jack Henry & Associates by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company's stock worth $316,326,000 after buying an additional 131,515 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Jack Henry & Associates by 5.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,442 shares of the technology company's stock worth $1,314,000 after buying an additional 366 shares during the period. Czech National Bank lifted its holdings in Jack Henry & Associates by 6.5% during the fourth quarter. Czech National Bank now owns 15,819 shares of the technology company's stock worth $2,773,000 after buying an additional 969 shares during the period. Finally, Wedmont Private Capital boosted its position in Jack Henry & Associates by 7.2% during the 4th quarter. Wedmont Private Capital now owns 1,239 shares of the technology company's stock valued at $213,000 after acquiring an additional 83 shares in the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on JKHY shares. StockNews.com upgraded shares of Jack Henry & Associates from a "hold" rating to a "buy" rating in a report on Monday, May 12th. UBS Group reduced their price objective on shares of Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Northcoast Research cut shares of Jack Henry & Associates from a "buy" rating to a "neutral" rating in a research report on Monday, March 10th. The Goldman Sachs Group raised shares of Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 price target on the stock in a report on Wednesday, April 2nd. Finally, William Blair reaffirmed an "outperform" rating on shares of Jack Henry & Associates in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Jack Henry & Associates presently has a consensus rating of "Hold" and a consensus target price of $184.10.

Jack Henry & Associates Stock Performance

NASDAQ JKHY traded up $1.62 during trading hours on Monday, reaching $184.29. The stock had a trading volume of 477,760 shares, compared to its average volume of 562,871. Jack Henry & Associates, Inc. has a 52-week low of $157.00 and a 52-week high of $196.00. The stock has a fifty day moving average of $174.83 and a 200 day moving average of $174.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market cap of $13.42 billion, a P/E ratio of 33.27, a price-to-earnings-growth ratio of 3.36 and a beta of 0.75.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.23. Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. The firm had revenue of $585.09 million for the quarter, compared to analyst estimates of $585.84 million. During the same quarter in the prior year, the business earned $1.19 earnings per share. The business's quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts predict that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.26%. The ex-dividend date is Thursday, May 29th. Jack Henry & Associates's dividend payout ratio is currently 39.52%.

About Jack Henry & Associates

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.