Meeder Asset Management Inc. trimmed its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 77.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 480 shares of the technology company's stock after selling 1,629 shares during the quarter. Meeder Asset Management Inc.'s holdings in Jack Henry & Associates were worth $88,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in JKHY. Cullen Frost Bankers Inc. purchased a new position in Jack Henry & Associates in the first quarter worth about $38,000. Assetmark Inc. grew its position in Jack Henry & Associates by 147.5% in the first quarter. Assetmark Inc. now owns 250 shares of the technology company's stock worth $46,000 after acquiring an additional 149 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in Jack Henry & Associates in the fourth quarter worth about $54,000. Menard Financial Group LLC purchased a new position in shares of Jack Henry & Associates during the fourth quarter valued at approximately $60,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Jack Henry & Associates by 603.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the technology company's stock valued at $64,000 after buying an additional 314 shares during the period. 98.75% of the stock is owned by institutional investors.
Jack Henry & Associates Trading Down 1.5%
Shares of Jack Henry & Associates stock traded down $2.54 on Friday, hitting $167.28. 627,091 shares of the company traded hands, compared to its average volume of 418,314. The company has a market cap of $12.18 billion, a PE ratio of 28.50 and a beta of 0.74. Jack Henry & Associates, Inc. has a 52 week low of $160.23 and a 52 week high of $196.00. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.04. The stock's 50 day moving average price is $179.36 and its 200-day moving average price is $176.40.
Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The technology company reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.23. The company had revenue of $585.09 million during the quarter, compared to analyst estimates of $585.84 million. Jack Henry & Associates had a return on equity of 22.07% and a net margin of 18.50%. Jack Henry & Associates's revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. Equities research analysts predict that Jack Henry & Associates, Inc. will post 5.83 EPS for the current year.
Jack Henry & Associates Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.58 per share. The ex-dividend date was Thursday, May 29th. This represents a $2.32 dividend on an annualized basis and a yield of 1.4%. Jack Henry & Associates's dividend payout ratio is currently 39.52%.
Analyst Upgrades and Downgrades
JKHY has been the subject of several recent analyst reports. Keefe, Bruyette & Woods dropped their target price on Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating for the company in a research report on Thursday, May 8th. Wall Street Zen lowered Jack Henry & Associates from a "buy" rating to a "hold" rating in a research report on Monday, July 21st. Finally, UBS Group dropped their target price on Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $185.11.
Read Our Latest Report on JKHY
Jack Henry & Associates Company Profile
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Free Report)
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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