Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 34.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,147 shares of the technology company's stock after selling 3,674 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Jack Henry & Associates were worth $1,305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. National Pension Service purchased a new position in shares of Jack Henry & Associates in the fourth quarter worth $27,000. Atala Financial Inc acquired a new stake in Jack Henry & Associates during the 4th quarter worth about $40,000. Cary Street Partners Financial LLC acquired a new position in shares of Jack Henry & Associates in the fourth quarter valued at about $54,000. Tortoise Investment Management LLC raised its stake in shares of Jack Henry & Associates by 76.9% in the fourth quarter. Tortoise Investment Management LLC now owns 329 shares of the technology company's stock worth $58,000 after purchasing an additional 143 shares during the last quarter. Finally, Menard Financial Group LLC acquired a new position in Jack Henry & Associates in the 4th quarter worth approximately $60,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. The Goldman Sachs Group raised Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 price target on the stock in a research report on Wednesday, April 2nd. Northcoast Research lowered Jack Henry & Associates from a "buy" rating to a "neutral" rating in a report on Monday, March 10th. Wall Street Zen raised Jack Henry & Associates from a "hold" rating to a "buy" rating in a report on Monday, May 12th. UBS Group dropped their price objective on shares of 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. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating for the company in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $184.10.

Jack Henry & Associates Price Performance

JKHY traded down $2.96 during midday trading on Wednesday, hitting $178.06. 399,050 shares of the company traded hands, compared to its average volume of 572,003. The business has a 50 day simple moving average of $178.20 and a two-hundred day simple moving average of $175.94. Jack Henry & Associates, Inc. has a 52-week low of $158.62 and a 52-week high of $196.00. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 3.07 and a beta of 0.73. 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 issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.23. Jack Henry & Associates had a net margin of 18.50% and a return on equity of 22.07%. The firm had revenue of $585.09 million for the quarter, compared to analyst estimates of $585.84 million. During the same period last year, the company posted $1.19 EPS. Jack Henry & Associates's quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, May 29th were issued a $0.58 dividend. 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 1.30%. Jack Henry & Associates's payout ratio is currently 39.52%.

Jack Henry & Associates Company 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.