Handelsbanken Fonder AB Sells 305,658 Shares of Jack Henry & Associates, Inc. $JKHY

Key Points

• Handelsbanken Fonder AB cut its Jack Henry & Associates stake by 47.3% in the second quarter, selling 305,658 shares and retaining 340,592 shares valued at approximately $46.9 million.
• Other institutional investors, including Martin Capital Partners and the Czech National Bank, increased their positions, while hedge funds and institutions collectively own 98.75% of JKHY.
• Jack Henry’s shares opened at $153.63, below the consensus analyst price target of $185.71. Analysts maintain a “Moderate Buy” consensus, and the CEO and CFO recently purchased company shares.

Handelsbanken Fonder AB reduced its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 47.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 340,592 shares of the technology company's stock after selling 305,658 shares during the period. Handelsbanken Fonder AB owned approximately 0.48% of Jack Henry & Associates worth $46,913,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of JKHY. Fulton Bank N.A. boosted its holdings in shares of Jack Henry & Associates by 7.4% during the 2nd quarter. Fulton Bank N.A. now owns 3,162 shares of the technology company's stock valued at $436,000 after purchasing an additional 219 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Jack Henry & Associates by 8.4% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,987 shares of the technology company's stock worth $411,000 after purchasing an additional 232 shares during the last quarter. Czech National Bank lifted its position in shares of Jack Henry & Associates by 2.9% in the second quarter. Czech National Bank now owns 20,224 shares of the technology company's stock worth $2,786,000 after buying an additional 570 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Jack Henry & Associates during the second quarter valued at approximately $1,946,000. Finally, Martin Capital Partners LLC boosted its stake in Jack Henry & Associates by 684.0% during the second quarter. Martin Capital Partners LLC now owns 40,855 shares of the technology company's stock valued at $5,627,000 after buying an additional 35,644 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

Jack Henry & Associates Trading Down 0.9%

JKHY opened at $153.63 on Wednesday. The stock has a 50-day moving average of $142.48 and a 200 day moving average of $152.31. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. Jack Henry & Associates, Inc. has a 12 month low of $121.04 and a 12 month high of $193.39. The firm has a market cap of $10.92 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.18 and a beta of 0.55.

Insider Activity at Jack Henry & Associates

In related news, CFO Mimi Carsley bought 375 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $134.12 per share, for a total transaction of $50,295.00. Following the acquisition, the chief financial officer owned 6,007 shares in the company, valued at $805,658.84. This trade represents a 6.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gregory R. Adelson bought 2,000 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $133.42 per share, for a total transaction of $266,840.00. Following the transaction, the chief executive officer owned 21,036 shares in the company, valued at approximately $2,806,623.12. The trade was a 10.51% increase in their position. The SEC filing for this purchase provides additional information. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

JKHY has been the topic of a number of research reports. Royal Bank Of Canada reduced their price objective on Jack Henry & Associates from $180.00 to $173.00 and set an "outperform" rating on the stock in a research note on Thursday, June 18th. The Goldman Sachs Group lowered their target price on Jack Henry & Associates from $180.00 to $161.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. DA Davidson reissued a "buy" rating and issued a $198.00 target price on shares of Jack Henry & Associates in a report on Monday, May 11th. Weiss Ratings cut shares of Jack Henry & Associates from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, May 29th. Finally, UBS Group set a $165.00 price target on shares of Jack Henry & Associates in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $185.71.

About Jack Henry & Associates

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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