Assenagon Asset Management S.A. Cuts Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Assenagon Asset Management S.A. reduced its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 97.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,942 shares of the technology company's stock after selling 61,961 shares during the period. Assenagon Asset Management S.A.'s holdings in Jack Henry & Associates were worth $355,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. National Pension Service purchased a new position in Jack Henry & Associates in the 4th quarter valued at approximately $27,000. Atala Financial Inc acquired a new stake in Jack Henry & Associates during the 4th quarter valued at $40,000. Cary Street Partners Financial LLC acquired a new stake in Jack Henry & Associates during the 4th quarter valued at $54,000. Tortoise Investment Management LLC grew its holdings in Jack Henry & Associates by 76.9% during the 4th quarter. Tortoise Investment Management LLC now owns 329 shares of the technology company's stock valued at $58,000 after buying an additional 143 shares during the last quarter. Finally, Menard Financial Group LLC acquired a new stake in Jack Henry & Associates during the 4th quarter valued at $60,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Jack Henry & Associates Trading Up 1.5%

Jack Henry & Associates stock traded up $2.74 during midday trading on Monday, reaching $181.02. The stock had a trading volume of 506,135 shares, compared to its average volume of 572,573. Jack Henry & Associates, Inc. has a twelve month low of $158.62 and a twelve month high of $196.00. The stock has a market capitalization of $13.18 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 3.02 and a beta of 0.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.36 and a current ratio of 1.36. The stock's 50-day simple moving average is $178.06 and its 200 day simple moving average is $175.90.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter last year, the firm earned $1.19 earnings per share. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts expect that Jack Henry & Associates, Inc. will post 5.83 EPS for the current year.

Jack Henry & Associates Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods lowered their target price on Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating on the stock in a report on Thursday, May 8th. Wall Street Zen upgraded Jack Henry & Associates from a "hold" rating to a "buy" rating in a report on Monday, May 12th. UBS Group lowered their target price on Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Northcoast Research cut Jack Henry & Associates from a "buy" rating to a "neutral" rating in a report on Monday, March 10th. Finally, The Goldman Sachs Group upgraded Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 target price on the stock in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Jack Henry & Associates has a consensus rating of "Hold" and a consensus price target of $184.10.

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.