Empowered Funds LLC Sells 14,441 Shares of Jack Henry & Associates, Inc. $JKHY

Key Points

• Empowered Funds LLC reduced its Jack Henry & Associates position by 74.8% in the first quarter, selling 14,441 shares and retaining 4,861 shares valued at approximately $768,000.
• Institutional ownership remains substantial at 98.75%, with Northwestern Mutual, Baillie Gifford and other investors increasing their holdings.
• Analysts maintain a generally positive outlook, assigning the stock a “Moderate Buy” consensus rating and an average price target of $186.07, compared with its reported opening price of $155.95.

Empowered Funds LLC cut its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 74.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,861 shares of the technology company's stock after selling 14,441 shares during the period. Empowered Funds LLC's holdings in Jack Henry & Associates were worth $768,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Jack Henry & Associates by 6,728.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 621,546 shares of the technology company's stock worth $113,420,000 after purchasing an additional 612,444 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Jack Henry & Associates by 47.6% during the fourth quarter. Baillie Gifford & Co. now owns 496,603 shares of the technology company's stock valued at $90,620,000 after purchasing an additional 160,118 shares in the last quarter. Dai ichi Life Insurance Company Ltd lifted its holdings in shares of Jack Henry & Associates by 231.1% during the first quarter. Dai ichi Life Insurance Company Ltd now owns 21,102 shares of the technology company's stock valued at $3,335,000 after purchasing an additional 14,728 shares in the last quarter. Brendel Financial Advisors LLC bought a new position in shares of Jack Henry & Associates during the fourth quarter valued at $3,001,000. Finally, Swedbank AB boosted its position in shares of Jack Henry & Associates by 230.2% during the fourth quarter. Swedbank AB now owns 143,787 shares of the technology company's stock valued at $26,238,000 after buying an additional 100,239 shares during the last quarter. Institutional investors own 98.75% of the company's stock.

Jack Henry & Associates Price Performance

NASDAQ JKHY opened at $155.95 on Monday. Jack Henry & Associates, Inc. has a 52 week low of $121.04 and a 52 week high of $193.39. The firm has a market capitalization of $11.08 billion, a P/E ratio of 21.81, a PEG ratio of 2.19 and a beta of 0.55. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $141.83 and a 200-day moving average price of $152.78.

Analyst Upgrades and Downgrades

Several research firms recently commented on JKHY. Morgan Stanley set a $170.00 price objective on Jack Henry & Associates in a report on Friday, May 8th. Wolfe Research set a $165.00 target price on shares of Jack Henry & Associates in a research note on Monday, June 29th. Royal Bank Of Canada dropped their price target on shares of Jack Henry & Associates from $180.00 to $173.00 and set an "outperform" rating on the stock in a report on Thursday, June 18th. DA Davidson reiterated a "buy" rating and issued a $198.00 price target on shares of Jack Henry & Associates in a research note on Monday, May 11th. Finally, Barclays started coverage on shares of Jack Henry & Associates in a report on Tuesday, July 7th. They issued an "overweight" rating and a $170.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Jack Henry & Associates currently has an average rating of "Moderate Buy" and a consensus target price of $186.07.

Insider Activity at Jack Henry & Associates

In other Jack Henry & Associates news, CFO Mimi Carsley purchased 375 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were acquired at an average cost of $134.12 per share, for a total transaction of $50,295.00. Following the completion of the transaction, the chief financial officer owned 6,007 shares of the company's stock, valued at approximately $805,658.84. The trade was a 6.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory R. Adelson purchased 2,000 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $133.42 per share, for a total transaction of $266,840.00. Following the purchase, the chief executive officer directly owned 21,036 shares in the company, valued at approximately $2,806,623.12. The trade was a 10.51% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.60% of the company's stock.

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.

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