Pacer Advisors Inc. Trims Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Key Points

• Pacer Advisors Inc. reduced its holdings in Jack Henry & Associates by 24.1%, owning 11,531 shares worth approximately $2.1 million after selling 3,667 shares.
• Jack Henry recently reported quarterly earnings of $1.52 per share, beating the consensus estimate of $1.29, with revenue growing 8.6% year-over-year, totaling $585.09 million.
• The company announced a quarterly dividend of $0.58 per share, with a current yield of 1.34% and a payout ratio of 39.52%.

Pacer Advisors Inc. decreased its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 24.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,531 shares of the technology company's stock after selling 3,667 shares during the period. Pacer Advisors Inc.'s holdings in Jack Henry & Associates were worth $2,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Axxcess Wealth Management LLC increased its stake in shares of Jack Henry & Associates by 2.3% in the 1st quarter. Axxcess Wealth Management LLC now owns 2,622 shares of the technology company's stock worth $479,000 after acquiring an additional 59 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Jack Henry & Associates by 2.1% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,115 shares of the technology company's stock valued at $569,000 after acquiring an additional 64 shares during the period. AdvisorNet Financial Inc boosted its holdings in Jack Henry & Associates by 9.8% during the 1st quarter. AdvisorNet Financial Inc now owns 838 shares of the technology company's stock valued at $153,000 after acquiring an additional 75 shares during the period. Smith Shellnut Wilson LLC ADV boosted its holdings in Jack Henry & Associates by 1.1% during the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 7,062 shares of the technology company's stock valued at $1,238,000 after acquiring an additional 77 shares during the period. Finally, Freedom Investment Management Inc. boosted its holdings in Jack Henry & Associates by 4.5% during the 4th quarter. Freedom Investment Management Inc. now owns 1,970 shares of the technology company's stock valued at $345,000 after acquiring an additional 85 shares during the period. Hedge funds and other institutional investors own 98.75% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on JKHY. Keefe, Bruyette & Woods lowered their target price on Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating for the company in a report on Thursday, May 8th. UBS Group decreased their price objective on Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Wall Street Zen cut Jack Henry & Associates from a "buy" rating to a "hold" rating in a research note on Monday, July 21st. One 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.com, Jack Henry & Associates currently has an average rating of "Hold" and an average target price of $185.11.

Jack Henry & Associates Stock Down 1.5%

JKHY stock traded down $2.54 during trading on Friday, hitting $167.28. 627,091 shares of the company's stock were exchanged, compared to its average volume of 612,992. The business has a 50-day moving average price of $179.36 and a two-hundred day moving average price of $176.40. The stock has a market capitalization of $12.18 billion, a price-to-earnings ratio of 28.50 and a beta of 0.72. 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.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.23. Jack Henry & Associates had a return on equity of 22.07% and a net margin of 18.50%. The company had revenue of $585.09 million during the quarter, compared to analysts' expectations of $585.84 million. During the same quarter in the previous year, the business earned $1.19 earnings per share. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities research analysts expect that Jack Henry & Associates, Inc. will post 5.83 EPS for the current year.

Jack Henry & Associates Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, May 29th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, May 29th. Jack Henry & Associates's dividend payout ratio is currently 39.52%.

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.