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Principal Financial Group Inc. Sells 7,591 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Jack Henry & Associates logo with Computer and Technology background

Principal Financial Group Inc. trimmed its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 364,595 shares of the technology company's stock after selling 7,591 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of Jack Henry & Associates worth $66,575,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Jack Henry & Associates during the fourth quarter worth approximately $132,817,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of 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 during the last quarter. Invesco Ltd. raised its position in shares of 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 during the last quarter. GAMMA Investing LLC boosted its holdings in Jack Henry & Associates by 19,937.4% during the first quarter. GAMMA Investing LLC now owns 467,273 shares of the technology company's stock worth $853,240,000 after buying an additional 464,941 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Jack Henry & Associates by 170.6% in 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. 98.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

JKHY has been the subject of several research reports. Keefe, Bruyette & Woods dropped their price target 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. Wall Street Zen downgraded Jack Henry & Associates from a "buy" rating to a "hold" rating in a research report on Saturday. The Goldman Sachs Group raised Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 price target for the company in a report on Wednesday, April 2nd. Finally, UBS Group dropped 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $185.11.

View Our Latest Research Report on Jack Henry & Associates

Jack Henry & Associates Stock Down 0.4%

NASDAQ:JKHY traded down $0.79 during midday trading on Wednesday, hitting $179.53. 194,555 shares of the company were exchanged, compared to its average volume of 632,360. 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 company has a market capitalization of $13.07 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 2.92 and a beta of 0.72. Jack Henry & Associates, Inc. has a fifty-two week low of $158.62 and a fifty-two week high of $196.00. The company has a fifty day simple moving average of $179.84 and a 200 day simple moving average of $176.10.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.23. Jack Henry & Associates had a net margin of 18.50% and a return on equity of 22.07%. The company had revenue of $585.09 million for the quarter, compared to the consensus estimate of $585.84 million. During the same quarter in the prior year, the firm earned $1.19 earnings per share. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities analysts anticipate 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 was paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, May 29th. Jack Henry & Associates's payout ratio is 39.52%.

About Jack Henry & Associates

(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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Institutional Ownership by Quarter for Jack Henry & Associates (NASDAQ:JKHY)

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