Allspring Global Investments Holdings LLC Cuts Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Allspring Global Investments Holdings LLC reduced its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 63.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,735 shares of the technology company's stock after selling 178,535 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.14% of Jack Henry & Associates worth $18,537,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. AdvisorNet Financial Inc increased its position in shares of Jack Henry & Associates by 9.8% during the 1st quarter. AdvisorNet Financial Inc now owns 838 shares of the technology company's stock valued at $153,000 after purchasing an additional 75 shares during the last quarter. Smith Shellnut Wilson LLC ADV grew its position in Jack Henry & Associates by 1.1% during the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 7,062 shares of the technology company's stock valued at $1,238,000 after buying an additional 77 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Jack Henry & Associates by 3.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,285 shares of the technology company's stock worth $401,000 after buying an additional 79 shares during the last quarter. Moran Wealth Management LLC increased its holdings in Jack Henry & Associates by 2.2% during the fourth quarter. Moran Wealth Management LLC now owns 3,871 shares of the technology company's stock worth $679,000 after buying an additional 85 shares during the last quarter. Finally, Freedom Investment Management Inc. raised its position in Jack Henry & Associates by 4.5% in the fourth quarter. Freedom Investment Management Inc. now owns 1,970 shares of the technology company's stock worth $345,000 after acquiring an additional 85 shares during the period. 98.75% of the stock is currently owned by institutional investors.

Jack Henry & Associates Stock Performance

Shares of NASDAQ:JKHY traded up $1.99 during midday trading on Thursday, reaching $181.41. 245,514 shares of the company traded hands, compared to its average volume of 569,244. Jack Henry & Associates, Inc. has a 12 month low of $158.62 and a 12 month high of $196.00. The firm's fifty day moving average price is $179.29 and its two-hundred day moving average price is $176.02. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $13.21 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 2.94 and a beta of 0.72.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.23. Jack Henry & Associates had a return on equity of 22.07% and a net margin of 18.50%. The firm had revenue of $585.09 million for the quarter, compared to analysts' expectations of $585.84 million. During the same period in the prior year, the business posted $1.19 earnings per share. The company's revenue was up 8.6% on a year-over-year basis. On average, equities analysts expect that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, May 29th were given a $0.58 dividend. The ex-dividend date was Thursday, May 29th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.28%. Jack Henry & Associates's dividend payout ratio (DPR) is presently 39.52%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on JKHY shares. Wall Street Zen raised shares of Jack Henry & Associates from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Keefe, Bruyette & Woods reduced their price objective on Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating for the company in a report on Thursday, May 8th. The Goldman Sachs Group raised Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 target price for the company in a research report on Wednesday, April 2nd. UBS Group dropped their price target on Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Finally, Northcoast Research downgraded Jack Henry & Associates from a "buy" rating to a "neutral" rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued 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 $185.11.

Jack Henry & Associates Company Profile

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.