Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp owns $152.19 million in shares of Jack Henry & Associates, Inc., representing a 1.14% stake after a slight reduction in their holdings.
• Institutional investors collectively hold 98.75% of Jack Henry's stock, with several firms significantly increasing their positions in recent quarters.
• Jack Henry's shares are currently rated as a "Hold" by most analysts, with an average target price of $185.11.

Mackenzie Financial Corp cut its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 833,455 shares of the technology company's stock after selling 1,789 shares during the quarter. Mackenzie Financial Corp owned about 1.14% of Jack Henry & Associates worth $152,189,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in JKHY. Tandem Investment Advisors Inc. grew its stake in Jack Henry & Associates by 14.5% during the 1st quarter. Tandem Investment Advisors Inc. now owns 649,236 shares of the technology company's stock worth $118,550,000 after buying an additional 82,414 shares during the last quarter. Bridges Investment Management Inc. grew its stake in Jack Henry & Associates by 82.7% during the 1st quarter. Bridges Investment Management Inc. now owns 6,720 shares of the technology company's stock worth $1,227,000 after buying an additional 3,041 shares during the last quarter. Penserra Capital Management LLC grew its stake in Jack Henry & Associates by 928.9% during the 1st quarter. Penserra Capital Management LLC now owns 5,340 shares of the technology company's stock worth $974,000 after buying an additional 4,821 shares during the last quarter. SG Americas Securities LLC grew its stake in Jack Henry & Associates by 169.0% during the 1st quarter. SG Americas Securities LLC now owns 3,349 shares of the technology company's stock worth $612,000 after buying an additional 2,104 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in Jack Henry & Associates by 11.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 31,725 shares of the technology company's stock worth $5,793,000 after buying an additional 3,237 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Keefe, Bruyette & Woods lowered their price target on 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. UBS Group lowered their price target on 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. Finally, Wall Street Zen cut Jack Henry & Associates from a "buy" rating to a "hold" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $185.11.

Jack Henry & Associates Stock Performance

Shares of JKHY traded down $2.28 during mid-day trading on Friday, reaching $167.54. The company had a trading volume of 281,235 shares, compared to its average volume of 610,509. Jack Henry & Associates, Inc. has a 52-week low of $160.23 and a 52-week high of $196.00. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $12.20 billion, a P/E ratio of 28.52 and a beta of 0.72. The stock has a 50 day moving average of $179.36 and a two-hundred day moving average of $176.40.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.23. The firm had revenue of $585.09 million for the quarter, compared to the consensus estimate of $585.84 million. Jack Henry & Associates had a return on equity of 22.07% and a net margin of 18.50%. The company's revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 earnings per share. On average, analysts expect that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.

Jack Henry & Associates Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, May 29th were issued a $0.58 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $2.32 dividend on an annualized basis and a yield of 1.4%. Jack Henry & Associates's dividend payout ratio is presently 39.52%.

Jack Henry & Associates Company 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.