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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. cut its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 2.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 364,595 shares of the technology company's stock after selling 7,591 shares during the period. Principal Financial Group Inc. owned 0.50% of Jack Henry & Associates worth $66,575,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in JKHY. AdvisorNet Financial Inc boosted its position in Jack Henry & Associates by 9.8% during the 1st quarter. AdvisorNet Financial Inc now owns 838 shares of the technology company's stock worth $153,000 after purchasing an additional 75 shares during the period. Smith Shellnut Wilson LLC ADV boosted its position 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 worth $1,238,000 after purchasing an additional 77 shares during the period. EverSource Wealth Advisors LLC boosted its position in Jack Henry & Associates by 3.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,285 shares of the technology company's stock worth $401,000 after purchasing an additional 79 shares during the period. Moran Wealth Management LLC boosted its position in Jack Henry & Associates by 2.2% during the 4th quarter. Moran Wealth Management LLC now owns 3,871 shares of the technology company's stock worth $679,000 after purchasing an additional 85 shares during the period. Finally, Freedom Investment Management Inc. boosted its position 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 worth $345,000 after purchasing an additional 85 shares during the period. 98.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of Jack Henry & Associates from a "buy" rating to a "hold" rating in a research report on Saturday. Keefe, Bruyette & Woods decreased their price target on shares of 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. The Goldman Sachs Group raised shares of Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 price objective for the company in a research report on Wednesday, April 2nd. Northcoast Research cut shares of Jack Henry & Associates from a "buy" rating to a "neutral" rating in a research report on Monday, March 10th. Finally, UBS Group decreased their price objective on shares of 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 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 stock. According to MarketBeat.com, Jack Henry & Associates presently has a consensus rating of "Hold" and an average price target of $185.11.

View Our Latest Stock Analysis on JKHY

Jack Henry & Associates Trading Up 1.1%

Shares of NASDAQ:JKHY traded up $1.99 during mid-day trading on Friday, hitting $181.41. The stock had a trading volume of 245,514 shares, compared to its average volume of 571,419. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market cap of $13.21 billion, a PE ratio of 30.90, a P/E/G ratio of 2.93 and a beta of 0.72. Jack Henry & Associates, Inc. has a 12-month low of $158.62 and a 12-month high of $196.00. The company's 50 day moving average is $179.50 and its 200-day moving average is $176.04.

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. Jack Henry & Associates had a net margin of 18.50% and a return on equity of 22.07%. The business had revenue of $585.09 million during the quarter, compared to the consensus estimate of $585.84 million. During the same quarter in the prior year, the firm earned $1.19 EPS. The firm's quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that Jack Henry & Associates, Inc. will post 5.83 EPS for the current year.

Jack Henry & Associates Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.28%. Jack Henry & Associates's dividend payout ratio is currently 39.52%.

Jack Henry & Associates Company Profile

(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.

Further Reading

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

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