JPMorgan Chase & Co. Sells 450,782 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Key Points

• JPMorgan Chase & Co. reduced its stake in Jack Henry & Associates by 29.6%, selling 450,782 shares and retaining approximately 1.07 million shares valued at $195.9 million.
• Several hedge funds have increased their holdings in Jack Henry & Associates, with Mitsubishi UFJ Asset Management boosting its stake by 3.7% during the first quarter.
• The stock currently has an average price target of $185.11 from analysts, with a mix of ratings that include one sell, eight holds, and three buys.

JPMorgan Chase & Co. reduced its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,072,932 shares of the technology company's stock after selling 450,782 shares during the period. JPMorgan Chase & Co. owned 1.47% of Jack Henry & Associates worth $195,917,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of JKHY. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Jack Henry & Associates by 3.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,367,002 shares of the technology company's stock valued at $249,615,000 after acquiring an additional 48,311 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of Jack Henry & Associates by 8.9% during the first quarter. Handelsbanken Fonder AB now owns 1,007,500 shares of the technology company's stock valued at $183,970,000 after acquiring an additional 82,100 shares during the period. Mackenzie Financial Corp raised its stake in shares of Jack Henry & Associates by 22.9% during the fourth quarter. Mackenzie Financial Corp now owns 835,244 shares of the technology company's stock valued at $146,418,000 after purchasing an additional 155,831 shares in the last quarter. Northern Trust Corp raised its stake in shares of Jack Henry & Associates by 9.9% during the fourth quarter. Northern Trust Corp now owns 788,861 shares of the technology company's stock valued at $138,287,000 after purchasing an additional 71,304 shares in the last quarter. Finally, Tandem Investment Advisors Inc. raised its position in Jack Henry & Associates by 14.5% in the first quarter. Tandem Investment Advisors Inc. now owns 649,236 shares of the technology company's stock worth $118,550,000 after acquiring an additional 82,414 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company's stock.

Insider Transactions at Jack Henry & Associates

In other Jack Henry & Associates news, Director David B. Foss sold 5,780 shares of Jack Henry & Associates stock in a transaction on Monday, August 4th. The shares were sold at an average price of $167.28, for a total value of $966,878.40. Following the completion of the transaction, the director owned 139,265 shares of the company's stock, valued at approximately $23,296,249.20. The trade was a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.37% of the stock is currently owned by insiders.

Jack Henry & Associates Stock Up 0.7%

Shares of JKHY traded up $1.14 during mid-day trading on Friday, reaching $160.39. The company had a trading volume of 814,353 shares, compared to its average volume of 653,837. 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 firm has a 50-day moving average price of $175.39 and a 200 day moving average price of $175.61. Jack Henry & Associates, Inc. has a 52 week low of $157.80 and a 52 week high of $196.00. The company has a market capitalization of $11.68 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 2.88 and a beta of 0.73.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on JKHY shares. UBS Group lowered their target price on Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Keefe, Bruyette & Woods cut 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. Finally, Wall Street Zen upgraded Jack Henry & Associates from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $185.11.

About Jack Henry & Associates

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.