Bank of New York Mellon Corp Sells 25,331 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Bank of New York Mellon Corp reduced its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 3.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 680,717 shares of the technology company's stock after selling 25,331 shares during the quarter. Bank of New York Mellon Corp owned 0.93% of Jack Henry & Associates worth $124,299,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JKHY. Atala Financial Inc purchased a new stake in Jack Henry & Associates during the 4th quarter valued at about $40,000. Cary Street Partners Financial LLC bought a new position in Jack Henry & Associates during the 4th quarter valued at approximately $54,000. Tortoise Investment Management LLC raised its position 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 purchasing an additional 143 shares during the last quarter. Menard Financial Group LLC bought a new position in Jack Henry & Associates during the 4th quarter valued at approximately $60,000. Finally, Brown Brothers Harriman & Co. raised its position in Jack Henry & Associates by 603.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 366 shares of the technology company's stock valued at $64,000 after purchasing an additional 314 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Jack Henry & Associates Stock Performance

Shares of JKHY stock traded down $4.37 on Friday, reaching $175.19. The stock had a trading volume of 439,436 shares, compared to its average volume of 571,569. Jack Henry & Associates, Inc. has a 1 year low of $160.23 and a 1 year high of $196.00. The company has a 50 day simple moving average of $180.10 and a 200 day simple moving average of $176.13. The stock has a market cap of $12.76 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 2.83 and a beta of 0.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.36 and a current ratio of 1.36.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The technology company reported $1.52 EPS for the quarter, topping 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 company had revenue of $585.09 million for the quarter, compared to analysts' expectations of $585.84 million. During the same period last year, the firm earned $1.19 EPS. Jack Henry & Associates's revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts expect that Jack Henry & Associates, Inc. will post 5.83 EPS for the current year.

Jack Henry & Associates Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $2.32 dividend on an annualized basis and a yield of 1.32%. Jack Henry & Associates's dividend payout ratio is presently 39.52%.

Analyst Upgrades and Downgrades

JKHY has been the subject of a number of recent analyst reports. Wall Street Zen lowered Jack Henry & Associates from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. 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 decreased their target price on Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Finally, Keefe, Bruyette & Woods cut their price target on Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating on the stock in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Jack Henry & Associates has a consensus rating of "Hold" and an average target price of $185.11.

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.