Jack Henry & Associates, Inc. (NASDAQ:JKHY) Position Reduced by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 26.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 175,720 shares of the technology company's stock after selling 62,489 shares during the quarter. Nuveen Asset Management LLC owned 0.24% of Jack Henry & Associates worth $30,804,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Jack Henry & Associates during the fourth quarter valued at about $132,817,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Jack Henry & Associates by 95.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,318,691 shares of the technology company's stock worth $229,057,000 after acquiring an additional 643,697 shares in the last quarter. Invesco Ltd. lifted its holdings in Jack Henry & Associates by 29.9% during the fourth quarter. Invesco Ltd. now owns 2,050,900 shares of the technology company's stock worth $359,523,000 after acquiring an additional 471,507 shares in the last quarter. Deutsche Bank AG lifted its holdings in Jack Henry & Associates by 170.6% during the fourth quarter. Deutsche Bank AG now owns 583,444 shares of the technology company's stock worth $102,278,000 after acquiring an additional 367,806 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Jack Henry & Associates by 406.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 348,447 shares of the technology company's stock worth $61,083,000 after acquiring an additional 279,628 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JKHY has been the topic of several research analyst reports. StockNews.com upgraded shares of Jack Henry & Associates from a "hold" rating to a "buy" rating in a report on Monday, May 12th. UBS Group dropped their target price on shares of Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. William Blair reissued an "outperform" rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. 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 note on Wednesday, April 2nd. Finally, Northcoast Research downgraded Jack Henry & Associates from a "buy" rating to a "neutral" rating in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $184.10.

Jack Henry & Associates Stock Performance

Shares of NASDAQ JKHY opened at $182.98 on Thursday. The stock has a 50 day moving average price of $175.41 and a 200 day moving average price of $175.02. Jack Henry & Associates, Inc. has a 52 week low of $157.00 and a 52 week high of $196.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $13.32 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 3.36 and a beta of 0.75.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.29 by $0.23. The firm had revenue of $585.09 million during the quarter, compared to analysts' expectations of $585.84 million. Jack Henry & Associates had a return on equity of 21.55% and a net margin of 17.83%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 earnings per share. 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 declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, May 29th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, May 29th. Jack Henry & Associates's dividend payout ratio is currently 39.52%.

Jack Henry & Associates 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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