Great Lakes Advisors LLC Sells 28,799 Shares of Jack Henry & Associates, Inc. $JKHY

Key Points

• Great Lakes Advisors LLC significantly reduced its stake in Jack Henry & Associates by 94.8%, now holding 1,584 shares worth $289,000 after selling 28,799 shares in the first quarter.
• Key hedge funds, including Axxcess Wealth Management LLC and Bank Julius Baer & Co. Ltd, have made modest increases in their positions in Jack Henry & Associates during the same period.
• Wall Street analysts have lowered their target price for Jack Henry & Associates, with an average price target of $182.33, and the stock currently holds an average rating of "Hold".

Great Lakes Advisors LLC decreased its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 94.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,584 shares of the technology company's stock after selling 28,799 shares during the period. Great Lakes Advisors LLC's holdings in Jack Henry & Associates were worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JKHY. Summit Securities Group LLC bought a new position in Jack Henry & Associates during the first quarter valued at approximately $26,000. Cullen Frost Bankers Inc. bought a new position in Jack Henry & Associates during the first quarter valued at approximately $38,000. Assetmark Inc. boosted its stake in Jack Henry & Associates by 147.5% during the first quarter. Assetmark Inc. now owns 250 shares of the technology company's stock valued at $46,000 after buying an additional 149 shares during the last quarter. National Pension Service boosted its stake in Jack Henry & Associates by 75.2% during the first quarter. National Pension Service now owns 268 shares of the technology company's stock valued at $49,000 after buying an additional 115 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in Jack Henry & Associates during the first quarter valued at approximately $59,000. 98.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods dropped their price target on Jack Henry & Associates from $183.00 to $178.00 and set a "market perform" rating for the company in a research note on Thursday, August 21st. DA Davidson set a $204.00 price objective on Jack Henry & Associates in a research note on Friday, August 22nd. Royal Bank Of Canada lowered their price objective on Jack Henry & Associates from $203.00 to $185.00 and set a "sector perform" rating for the company in a research note on Thursday, August 21st. Robert W. Baird reduced their price target on Jack Henry & Associates from $195.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. Finally, Wall Street Zen downgraded Jack Henry & Associates from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Jack Henry & Associates has an average rating of "Hold" and an average target price of $182.33.

Insider Buying and Selling

In other Jack Henry & Associates 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 transaction of $966,878.40. Following the transaction, the director directly owned 139,265 shares in the company, 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 SEC, which is available through the SEC website. 1.37% of the stock is owned by insiders.

Jack Henry & Associates Trading Down 3.3%

Shares of NASDAQ JKHY traded down $5.31 during midday trading on Thursday, hitting $154.47. The company's stock had a trading volume of 1,175,783 shares, compared to its average volume of 687,217. The business's 50 day moving average is $166.45 and its two-hundred day moving average is $173.88. The firm has a market cap of $11.26 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 2.85 and a beta of 0.79. Jack Henry & Associates, Inc. has a 12-month low of $154.39 and a 12-month high of $196.00.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The technology company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.50 by $0.25. The company had revenue of $615.37 million for the quarter, compared to the consensus estimate of $602.20 million. Jack Henry & Associates had a return on equity of 22.60% and a net margin of 19.19%.Jack Henry & Associates's quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the business posted $1.33 EPS. Jack Henry & Associates has set its FY 2026 guidance at EPS. On average, analysts predict 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 will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, September 5th. Jack Henry & Associates's dividend payout ratio (DPR) is presently 37.18%.

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.