Bank of Nova Scotia Trims Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Bank of Nova Scotia decreased its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 91.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,961 shares of the technology company's stock after selling 92,848 shares during the quarter. Bank of Nova Scotia's holdings in Jack Henry & Associates were worth $1,636,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of JKHY. Axxcess Wealth Management LLC lifted its stake in Jack Henry & Associates by 2.3% in the first quarter. Axxcess Wealth Management LLC now owns 2,622 shares of the technology company's stock worth $479,000 after acquiring an additional 59 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Jack Henry & Associates by 2.1% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,115 shares of the technology company's stock worth $569,000 after acquiring an additional 64 shares during the period. AdvisorNet Financial Inc lifted its stake in Jack Henry & Associates by 9.8% in the first quarter. AdvisorNet Financial Inc now owns 838 shares of the technology company's stock worth $153,000 after acquiring an additional 75 shares during the period. Smith Shellnut Wilson LLC ADV lifted its stake in Jack Henry & Associates by 1.1% in the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 7,062 shares of the technology company's stock worth $1,238,000 after acquiring an additional 77 shares during the period. Finally, Freedom Investment Management Inc. grew its stake 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 purchasing an additional 85 shares during the period. Hedge funds and other institutional investors own 98.75% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on JKHY shares. Wall Street Zen raised Jack Henry & Associates from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Keefe, Bruyette & Woods reduced 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. Finally, UBS Group reduced their price target on Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $185.11.

Jack Henry & Associates Trading Up 0.5%

NASDAQ JKHY opened at $166.76 on Thursday. Jack Henry & Associates, Inc. has a 12 month low of $160.23 and a 12 month high of $196.00. The stock has a market cap of $12.14 billion, a P/E ratio of 28.41 and a beta of 0.73. The stock's fifty day moving average price is $178.16 and its 200-day moving average price is $176.27. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.04.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released 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. The firm had revenue of $585.09 million for the quarter, compared to analysts' expectations of $585.84 million. Jack Henry & Associates had a return on equity of 22.07% and a net margin of 18.50%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 earnings per share. As a group, equities analysts forecast that Jack Henry & Associates, Inc. will post 5.83 EPS for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, May 29th. Jack Henry & Associates's dividend payout ratio is presently 39.52%.

Insider Activity

In other news, Director David B. Foss sold 5,780 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $167.28, for a total transaction of $966,878.40. Following the transaction, the director directly owned 139,265 shares of the company's stock, valued at $23,296,249.20. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.37% of the stock is currently owned by insiders.

Jack Henry & Associates 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.

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