Riverbridge Partners LLC Sells 13,941 Shares of Jack Henry & Associates, Inc. $JKHY

Key Points

• Riverbridge Partners LLC reduced its stake in Jack Henry & Associates by 10.5%, selling 13,941 shares and now owns 118,260 shares valued at approximately $21.3 million.
• Several institutional investors have significantly increased their holdings in Jack Henry & Associates, with GAMMA Investing LLC raising its position by a remarkable 19,937.4%.
• Jack Henry & Associates recently announced a quarterly dividend of $0.58 per share, reflecting a 1.5% dividend yield and a payout ratio of 37.18%.

Riverbridge Partners LLC lowered its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 10.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,260 shares of the technology company's stock after selling 13,941 shares during the period. Riverbridge Partners LLC owned 0.16% of Jack Henry & Associates worth $21,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of JKHY. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Jack Henry & Associates by 19.1% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,778,922 shares of the technology company's stock valued at $872,631,000 after buying an additional 765,441 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Jack Henry & Associates by 19,937.4% during the first quarter. GAMMA Investing LLC now owns 467,273 shares of the technology company's stock valued at $853,240,000 after buying an additional 464,941 shares during the last quarter. RGM Capital LLC bought a new stake in shares of Jack Henry & Associates during the first quarter valued at approximately $58,951,000. Nuveen LLC bought a new stake in Jack Henry & Associates in the first quarter worth $31,463,000. Finally, Millennium Management LLC increased its position in Jack Henry & Associates by 535.1% in the first quarter. Millennium Management LLC now owns 161,180 shares of the technology company's stock worth $29,431,000 after purchasing an additional 135,801 shares during the last quarter. Institutional investors own 98.75% of the company's stock.

Analyst Upgrades and Downgrades

JKHY has been the topic of several research reports. Robert W. Baird reduced their price target on shares of Jack Henry & Associates from $195.00 to $185.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. UBS Group reduced their price target on shares of Jack Henry & Associates from $185.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, August 21st. DA Davidson set a $204.00 price target on shares of Jack Henry & Associates in a research report on Friday, August 22nd. Wall Street Zen upgraded shares of Jack Henry & Associates from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Jack Henry & Associates from $183.00 to $178.00 and set a "market perform" rating on the stock in a research report on Thursday, August 21st. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Jack Henry & Associates has an average rating of "Hold" and an average target price of $182.33.

Insider Activity

In other news, Director David B. Foss sold 5,780 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $167.28, for a total transaction of $966,878.40. Following the completion of the sale, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.37% of the company's stock.

Jack Henry & Associates Stock Up 1.0%

JKHY stock opened at $151.50 on Thursday. Jack Henry & Associates, Inc. has a twelve month low of $149.38 and a twelve month high of $196.00. The stock has a market capitalization of $11.01 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 2.67 and a beta of 0.79. The firm's fifty day simple moving average is $164.47 and its two-hundred day simple moving average is $173.02.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The technology company reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.25. Jack Henry & Associates had a net margin of 19.19% and a return on equity of 22.60%. The business had revenue of $615.37 million for the quarter, compared to analysts' expectations of $602.20 million. During the same quarter in the previous year, the business posted $1.33 earnings per share. The business's revenue was up 9.9% compared to the same quarter last year. Jack Henry & Associates has set its FY 2026 guidance at EPS. As a group, equities research analysts expect that Jack Henry & Associates, Inc. will post 5.83 EPS for the current year.

Jack Henry & Associates Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 5th. Jack Henry & Associates's payout ratio is currently 37.18%.

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.

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