Forvis Mazars Wealth Advisors LLC Trims Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Key Points

• Forvis Mazars Wealth Advisors LLC reduced its stake in Jack Henry & Associates by 2.1%, now holding 141,172 shares worth approximately $25.78 million.
• Several institutional investors have increased their holdings in Jack Henry & Associates, with Aberdeen Group plc increasing its position by 93.9% during the same quarter.
• Jack Henry & Associates stock received a rating upgrade from a "hold" to a "buy" by Wall Street Zen, while also experiencing price target reductions from Keefe, Bruyette & Woods and UBS Group.

Forvis Mazars Wealth Advisors LLC reduced its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 141,172 shares of the technology company's stock after selling 2,967 shares during the quarter. Jack Henry & Associates comprises about 0.6% of Forvis Mazars Wealth Advisors LLC's portfolio, making the stock its 27th biggest position. Forvis Mazars Wealth Advisors LLC owned 0.19% of Jack Henry & Associates worth $25,778,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Element Capital Management LLC purchased a new position in Jack Henry & Associates during the 1st quarter worth $2,776,000. Aberdeen Group plc increased its holdings in Jack Henry & Associates by 93.9% during the 1st quarter. Aberdeen Group plc now owns 45,187 shares of the technology company's stock worth $8,209,000 after purchasing an additional 21,888 shares during the period. Vestmark Advisory Solutions Inc. increased its holdings in Jack Henry & Associates by 138.0% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 75,374 shares of the technology company's stock worth $13,763,000 after purchasing an additional 43,698 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Jack Henry & Associates by 3.9% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 34,366 shares of the technology company's stock valued at $6,275,000 after acquiring an additional 1,300 shares during the period. Finally, Financial Network Wealth Advisors LLC increased its holdings in shares of Jack Henry & Associates by 40.8% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 335 shares of the technology company's stock valued at $61,000 after acquiring an additional 97 shares during the period. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Jack Henry & Associates Stock Up 0.7%

Jack Henry & Associates stock opened at $160.39 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market capitalization of $11.68 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.88 and a beta of 0.73. Jack Henry & Associates, Inc. has a 1-year low of $157.80 and a 1-year high of $196.00. The business has a fifty day moving average price of $175.39 and a 200-day moving average price of $175.61.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wall Street Zen upgraded Jack Henry & Associates from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods cut their price target on Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating on the stock in a report on Thursday, May 8th. Finally, UBS Group cut their price target on Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $185.11.

Insider Buying and Selling at Jack Henry & Associates

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

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.

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