Corient Private Wealth LP Sells 60,816 Shares of Jack Henry & Associates, Inc. $JKHY

Key Points

• Corient Private Wealth LP cut its Jack Henry & Associates stake by 77.5% in the second quarter, selling 60,816 shares and retaining 17,670 shares valued at approximately $2.43 million. Institutional investors still own 98.75% of the company.
• Jack Henry reported quarterly EPS of $1.57, beating estimates of $1.44, while revenue rose 4.6% year over year to $633.1 million. The company also declared a quarterly dividend of $0.61 per share, representing a 1.6% yield.
• Wall Street maintains a “Moderate Buy” consensus, with an average price target of $192.18 versus the stock’s reported price of $149.10; analyst targets range from $175 to $199.

Corient Private Wealth LP reduced its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 77.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,670 shares of the technology company's stock after selling 60,816 shares during the period. Corient Private Wealth LP's holdings in Jack Henry & Associates were worth $2,434,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of JKHY. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Jack Henry & Associates in the second quarter worth $5,799,000. VELA Investment Management LLC grew its position in Jack Henry & Associates by 77.0% during the 2nd quarter. VELA Investment Management LLC now owns 66,665 shares of the technology company's stock valued at $9,182,000 after purchasing an additional 29,004 shares during the last quarter. Paralel Advisors LLC bought a new stake in Jack Henry & Associates during the 2nd quarter valued at about $2,016,000. Greenland Capital Management LP purchased a new position in Jack Henry & Associates in the second quarter worth about $838,000. Finally, denkapparat Operations GmbH raised its holdings in Jack Henry & Associates by 138.5% in the second quarter. denkapparat Operations GmbH now owns 7,628 shares of the technology company's stock worth $1,051,000 after buying an additional 4,430 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Jack Henry & Associates Stock Down 1.6%

Shares of JKHY stock opened at $149.10 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.02. Jack Henry & Associates, Inc. has a 12 month low of $121.04 and a 12 month high of $193.39. The stock has a market cap of $10.45 billion, a P/E ratio of 21.39, a P/E/G ratio of 1.72 and a beta of 0.56. The company has a 50 day simple moving average of $158.35 and a two-hundred day simple moving average of $150.87.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 18th. The technology company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.44 by $0.13. The firm had revenue of $633.10 million during the quarter, compared to analyst estimates of $631.60 million. Jack Henry & Associates had a return on equity of 23.49% and a net margin of 19.76%.Jack Henry & Associates's revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.75 EPS. Jack Henry & Associates has set its FY 2027 guidance at 7.330-7.380 EPS. On average, research analysts expect that Jack Henry & Associates, Inc. will post 7.33 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Monday, September 7th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, September 4th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.6%. Jack Henry & Associates's payout ratio is 35.01%.

Wall Street Analysts Forecast Growth

JKHY has been the topic of a number of recent analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $178.00 price target on shares of Jack Henry & Associates in a report on Wednesday, September 16th. Raymond James Financial upped their price target on Jack Henry & Associates from $192.00 to $199.00 and gave the company a "strong-buy" rating in a report on Wednesday, September 16th. KeyCorp initiated coverage on Jack Henry & Associates in a research report on Monday, September 14th. They set an "overweight" rating and a $190.00 price objective on the stock. Piper Sandler lifted their price objective on Jack Henry & Associates from $171.00 to $175.00 and gave the stock a "neutral" rating in a report on Wednesday, September 16th. Finally, Barclays boosted their target price on Jack Henry & Associates from $170.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $192.18.

Jack Henry & Associates Profile

Jack Henry & Associates, Inc is a financial technology company that provides software and technology services to banks, credit unions and other financial institutions. Its solutions are designed to support core processing, digital banking, payments, lending, risk management and operational workflows.

The company's products include core banking platforms, online and mobile banking tools, payment processing services, electronic bill pay, loan origination and document management solutions, fraud prevention tools, and technology that helps financial institutions connect with third-party applications.

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