KLP Kapitalforvaltning AS Lowers Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

KLP Kapitalforvaltning AS trimmed its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 9.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 23,100 shares of the technology company's stock after selling 2,300 shares during the period. KLP Kapitalforvaltning AS's holdings in Jack Henry & Associates were worth $4,218,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in JKHY. Commonwealth Equity Services LLC raised its holdings in Jack Henry & Associates by 1.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 9,202 shares of the technology company's stock worth $1,613,000 after acquiring an additional 173 shares during the last quarter. American Century Companies Inc. raised its stake in Jack Henry & Associates by 63.1% during the 4th quarter. American Century Companies Inc. now owns 39,031 shares of the technology company's stock valued at $6,842,000 after buying an additional 15,106 shares during the last quarter. LPL Financial LLC raised its stake in Jack Henry & Associates by 26.1% during the 4th quarter. LPL Financial LLC now owns 79,693 shares of the technology company's stock valued at $13,947,000 after buying an additional 16,514 shares during the last quarter. Vanguard Group Inc. raised its stake in Jack Henry & Associates by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 8,811,373 shares of the technology company's stock valued at $1,544,634,000 after buying an additional 157,360 shares during the last quarter. Finally, Korea Investment CORP raised its stake in Jack Henry & Associates by 176.5% during the 4th quarter. Korea Investment CORP now owns 38,534 shares of the technology company's stock valued at $6,755,000 after buying an additional 24,600 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group upgraded shares of Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 target price for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their target price on shares of Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating for the company in a research note on Thursday, May 8th. UBS Group decreased their target price on shares of 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 lowered shares of 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $185.11.

Jack Henry & Associates Trading Down 2.5%

Shares of JKHY stock opened at $176.35 on Friday. Jack Henry & Associates, Inc. has a 1 year low of $160.23 and a 1 year high of $196.00. The firm has a fifty day moving average price of $180.18 and a 200-day moving average price of $176.39. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.36 and a quick ratio of 1.36. The company has a market cap of $12.84 billion, a price-to-earnings ratio of 30.04 and a beta of 0.72.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.23. The firm had revenue of $585.09 million during the quarter, compared to the consensus estimate of $585.84 million. Jack Henry & Associates had a net margin of 18.50% and a return on equity of 22.07%. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. As a group, equities analysts predict that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, May 29th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 1.32%. The ex-dividend date was Thursday, May 29th. Jack Henry & Associates's dividend payout ratio is currently 39.52%.

Jack Henry & Associates 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.

Want to see what other hedge funds are holding JKHY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.