D.A. Davidson & CO. Reduces Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

D.A. Davidson & CO. cut its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 49.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,827 shares of the technology company's stock after selling 2,808 shares during the quarter. D.A. Davidson & CO.'s holdings in Jack Henry & Associates were worth $516,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Tandem Investment Advisors Inc. lifted its position in Jack Henry & Associates by 14.5% during the first quarter. Tandem Investment Advisors Inc. now owns 649,236 shares of the technology company's stock valued at $118,550,000 after purchasing an additional 82,414 shares during the period. Novem Group lifted its position in Jack Henry & Associates by 32.9% during the first quarter. Novem Group now owns 6,332 shares of the technology company's stock valued at $1,156,000 after purchasing an additional 1,567 shares during the period. DAVENPORT & Co LLC lifted its position in Jack Henry & Associates by 2.2% during the first quarter. DAVENPORT & Co LLC now owns 7,738 shares of the technology company's stock valued at $1,413,000 after purchasing an additional 164 shares during the period. Taylor Frigon Capital Management LLC lifted its position in Jack Henry & Associates by 2.2% during the first quarter. Taylor Frigon Capital Management LLC now owns 7,868 shares of the technology company's stock valued at $1,437,000 after purchasing an additional 170 shares during the period. Finally, IRON Financial LLC lifted its position in Jack Henry & Associates by 303.8% during the first quarter. IRON Financial LLC now owns 4,870 shares of the technology company's stock valued at $889,000 after purchasing an additional 3,664 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JKHY. UBS Group decreased their price objective on shares of 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. The Goldman Sachs Group upgraded shares of Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 price objective for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price objective on shares of Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating for the company in a research report on Thursday, May 8th. Finally, Wall Street Zen downgraded shares of Jack Henry & Associates from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $185.11.

Jack Henry & Associates Price Performance

Shares of JKHY stock traded down $4.37 on Friday, reaching $175.19. 439,436 shares of the company were exchanged, compared to its average volume of 571,569. The company has a market cap of $12.76 billion, a price-to-earnings ratio of 29.84, a P/E/G ratio of 2.83 and a beta of 0.72. The business has a 50-day moving average price of $180.10 and a 200 day moving average price of $176.13. 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, Inc. has a 1 year low of $160.23 and a 1 year high of $196.00.

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 business had revenue of $585.09 million during the quarter, compared to analysts' expectations of $585.84 million. Jack Henry & Associates had a net margin of 18.50% and a return on equity of 22.07%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.19 earnings per share. Equities research analysts forecast that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

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

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.