JGP Wealth Management LLC Sells 18,710 Shares of Jack Henry & Associates, Inc. $JKHY

Key Points

• JGP Wealth Management cut its Jack Henry & Associates position by 61.1% in the second quarter, selling 18,710 shares and retaining 11,901 shares valued at approximately $1.64 million. Institutional investors collectively own 98.75% of the company.
• Jack Henry executives signaled confidence by purchasing shares: CEO Gregory Adelson bought 2,000 shares and CFO Mimi Carsley purchased 375 shares. Company insiders now own 0.60% of the stock.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $186.07. The company recently beat quarterly earnings estimates, reporting $1.71 in adjusted EPS versus the $1.43 consensus.

JGP Wealth Management LLC trimmed its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 61.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,901 shares of the technology company's stock after selling 18,710 shares during the quarter. JGP Wealth Management LLC's holdings in Jack Henry & Associates were worth $1,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC increased its holdings in Jack Henry & Associates by 2,816.7% in the fourth quarter. Larson Financial Group LLC now owns 175 shares of the technology company's stock worth $32,000 after purchasing an additional 169 shares in the last quarter. Essential Partners LLC boosted its holdings in shares of Jack Henry & Associates by 65.8% during the 1st quarter. Essential Partners LLC now owns 184 shares of the technology company's stock worth $29,000 after buying an additional 73 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Jack Henry & Associates during the 2nd quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd grew its position in shares of Jack Henry & Associates by 3,900.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 200 shares of the technology company's stock worth $30,000 after buying an additional 195 shares during the period. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Jack Henry & Associates during the 2nd quarter worth approximately $39,000. Institutional investors own 98.75% of the company's stock.

Insider Buying and Selling at Jack Henry & Associates

In other news, CEO Gregory R. Adelson purchased 2,000 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $133.42 per share, with a total value of $266,840.00. Following the completion of the transaction, the chief executive officer directly owned 21,036 shares of the company's stock, valued at approximately $2,806,623.12. This trade represents a 10.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mimi Carsley purchased 375 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of $134.12 per share, for a total transaction of $50,295.00. Following the completion of the acquisition, the chief financial officer owned 6,007 shares of the company's stock, valued at $805,658.84. The trade was a 6.66% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on JKHY. UBS Group set a $165.00 target price on shares of Jack Henry & Associates in a research report on Thursday, May 7th. DA Davidson restated a "buy" rating and issued a $198.00 price target on shares of Jack Henry & Associates in a report on Monday, May 11th. Weiss Ratings downgraded shares of Jack Henry & Associates from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 29th. Morgan Stanley set a $170.00 price target on Jack Henry & Associates in a research note on Friday, May 8th. Finally, Royal Bank Of Canada cut their price target on Jack Henry & Associates from $180.00 to $173.00 and set an "outperform" rating on the stock in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Jack Henry & Associates presently has an average rating of "Moderate Buy" and a consensus price target of $186.07.

Jack Henry & Associates Stock Performance

Shares of JKHY opened at $154.41 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a 50 day moving average price of $141.02 and a two-hundred day moving average price of $153.25. The firm has a market capitalization of $10.97 billion, a P/E ratio of 21.60, a P/E/G ratio of 2.20 and a beta of 0.55. Jack Henry & Associates, Inc. has a 52 week low of $121.04 and a 52 week high of $193.39.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last posted its earnings results on Tuesday, May 5th. The technology company reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.28. The company had revenue of $615.93 million for the quarter, compared to analyst estimates of $619.67 million. Jack Henry & Associates had a return on equity of 24.03% and a net margin of 20.64%.The company's revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $1.52 earnings per share. Equities analysts forecast that Jack Henry & Associates, Inc. will post 6.84 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Monday, June 1st were paid a dividend of $0.61 per share. The ex-dividend date was Monday, June 1st. This represents a $2.44 annualized dividend and a yield of 1.6%. Jack Henry & Associates's dividend payout ratio (DPR) is 34.13%.

Jack Henry & Associates Profile

Jack Henry & Associates, Inc is a leading provider of technology solutions and payment processing services for the financial services industry. Founded in 1976 and headquartered in Monett, Missouri, the company develops and supports a comprehensive suite of software and services designed to help banks, credit unions and other financial institutions streamline operations, improve customer engagement and manage risk.

The company's core processing platforms deliver end-to-end account processing, general ledger, deposit operations and loan servicing functionality.

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