Bank of America Corp DE Decreases Stock Holdings in Jack Henry & Associates, Inc. $JKHY

Key Points

• Bank of America reduced its Jack Henry & Associates position by 14.6% in the first quarter, selling 41,659 shares and retaining 243,931 shares valued at approximately $38.6 million.
• Several other institutional investors increased their holdings, including Janus Henderson, Amundi and Quantinno Capital. Hedge funds and other institutions collectively own 98.75% of JKHY’s outstanding stock.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $185.71, compared with a recent price of $155.86.

Bank of America Corp DE cut its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 14.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 243,931 shares of the technology company's stock after selling 41,659 shares during the quarter. Bank of America Corp DE owned 0.34% of Jack Henry & Associates worth $38,551,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of JKHY. Janus Henderson Group PLC increased its holdings in shares of Jack Henry & Associates by 13,343.0% in the 1st quarter. Janus Henderson Group PLC now owns 1,078,398 shares of the technology company's stock worth $170,430,000 after buying an additional 1,070,376 shares during the last quarter. Amundi increased its stake in Jack Henry & Associates by 80.5% during the first quarter. Amundi now owns 626,837 shares of the technology company's stock worth $99,065,000 after acquiring an additional 279,466 shares during the last quarter. Quantinno Capital Management LP raised its position in Jack Henry & Associates by 214.3% during the first quarter. Quantinno Capital Management LP now owns 419,286 shares of the technology company's stock valued at $66,264,000 after purchasing an additional 285,893 shares during the period. Delta Global Management LP lifted its stake in shares of Jack Henry & Associates by 3.0% in the 1st quarter. Delta Global Management LP now owns 13,688 shares of the technology company's stock valued at $2,163,000 after purchasing an additional 396 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its holdings in shares of Jack Henry & Associates by 175.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 8,365 shares of the technology company's stock worth $1,322,000 after purchasing an additional 5,330 shares during the period. Hedge funds and other institutional investors own 98.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JKHY. Barclays began coverage on Jack Henry & Associates in a research report on Tuesday, July 7th. They issued an "overweight" rating and a $170.00 price target for the company. Wolfe Research set a $165.00 price target on shares of Jack Henry & Associates in a report on Monday, June 29th. Weiss Ratings downgraded shares of Jack Henry & Associates from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 29th. Royal Bank Of Canada cut their target price on Jack Henry & Associates from $180.00 to $173.00 and set an "outperform" rating on the stock in a research note on Thursday, June 18th. Finally, The Goldman Sachs Group decreased their price target on Jack Henry & Associates from $180.00 to $161.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $185.71.

Jack Henry & Associates Stock Performance

Shares of NASDAQ:JKHY opened at $155.86 on Friday. The firm's 50 day simple moving average is $143.37 and its 200-day simple moving average is $151.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74. Jack Henry & Associates, Inc. has a one year low of $121.04 and a one year high of $193.39. The firm has a market cap of $11.07 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 2.14 and a beta of 0.55.

Jack Henry & Associates Profile

Jack Henry & Associates, Inc is a leading provider of technology solutions and payment processing services for the financial services industry. Founded in 1976 and headquartered in Monett, Missouri, the company develops and supports a comprehensive suite of software and services designed to help banks, credit unions and other financial institutions streamline operations, improve customer engagement and manage risk.

The company's core processing platforms deliver end-to-end account processing, general ledger, deposit operations and loan servicing functionality.

Want to see what other hedge funds are holding JKHY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source