Riverbridge Partners LLC Reduces Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Riverbridge Partners LLC reduced its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,201 shares of the technology company's stock after selling 11,861 shares during the period. Riverbridge Partners LLC owned 0.18% of Jack Henry & Associates worth $24,140,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in Jack Henry & Associates by 201.0% in the first quarter. Blue Trust Inc. now owns 602 shares of the technology company's stock valued at $110,000 after purchasing an additional 402 shares during the last quarter. Boston Trust Walden Corp grew its position in shares of Jack Henry & Associates by 18.6% during the first quarter. Boston Trust Walden Corp now owns 260,406 shares of the technology company's stock worth $47,550,000 after acquiring an additional 40,859 shares during the last quarter. Global X Japan Co. Ltd. purchased a new position in shares of Jack Henry & Associates during the first quarter worth approximately $70,000. State of Alaska Department of Revenue grew its position in shares of Jack Henry & Associates by 1.1% during the first quarter. State of Alaska Department of Revenue now owns 21,298 shares of the technology company's stock worth $3,888,000 after acquiring an additional 225 shares during the last quarter. Finally, Cadent Capital Advisors LLC purchased a new position in shares of Jack Henry & Associates during the first quarter worth approximately $247,000. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on JKHY shares. 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 on the stock in a research report on Wednesday, April 2nd. Northcoast Research lowered shares of Jack Henry & Associates from a "buy" rating to a "neutral" rating in a research report on Monday, March 10th. UBS Group lowered their target price on shares of Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of Jack Henry & Associates from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating on the stock in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $184.10.

Jack Henry & Associates Price Performance

Jack Henry & Associates stock opened at $181.39 on Friday. Jack Henry & Associates, Inc. has a one year low of $158.62 and a one year high of $196.00. 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 business has a fifty day moving average of $177.58 and a two-hundred day moving average of $175.75. The company has a market cap of $13.21 billion, a P/E ratio of 30.90, a price-to-earnings-growth ratio of 3.08 and a beta of 0.73.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its earnings results on Tuesday, May 6th. The technology company reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.23. Jack Henry & Associates had a return on equity of 22.07% and a net margin of 18.50%. The company had revenue of $585.09 million during the quarter, compared to the consensus estimate of $585.84 million. During the same quarter last year, the company earned $1.19 earnings per share. Jack Henry & Associates's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts predict that Jack Henry & Associates, Inc. will post 5.83 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 Wednesday, June 18th. Investors of record on Thursday, May 29th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, May 29th. 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.

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