Schwartz Investment Counsel Inc. Sells 185,700 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Schwartz Investment Counsel Inc. cut its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 88.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,300 shares of the technology company's stock after selling 185,700 shares during the quarter. Schwartz Investment Counsel Inc.'s holdings in Jack Henry & Associates were worth $4,620,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in JKHY. National Pension Service purchased a new stake in Jack Henry & Associates during the fourth quarter valued at approximately $27,000. Atala Financial Inc bought a new position in Jack Henry & Associates in the 4th quarter worth $40,000. Cary Street Partners Financial LLC purchased a new position in Jack Henry & Associates during the fourth quarter valued at $54,000. Tortoise Investment Management LLC increased its position in Jack Henry & Associates by 76.9% in the fourth quarter. Tortoise Investment Management LLC now owns 329 shares of the technology company's stock worth $58,000 after buying an additional 143 shares in the last quarter. Finally, Menard Financial Group LLC purchased a new position in shares of Jack Henry & Associates during the 4th quarter valued at about $60,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on JKHY shares. The Goldman Sachs Group raised shares of Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 price target on the stock in a report on Wednesday, April 2nd. Northcoast Research downgraded shares of Jack Henry & Associates from a "buy" rating to a "neutral" rating in a report on Monday, March 10th. Wall Street Zen upgraded Jack Henry & Associates from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. UBS Group decreased 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. Finally, Keefe, Bruyette & Woods dropped 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 note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Jack Henry & Associates has a consensus rating of "Hold" and an average target price of $185.11.

Jack Henry & Associates Trading Up 1.1%

Shares of NASDAQ JKHY traded up $1.92 during trading hours on Tuesday, hitting $182.09. 614,240 shares of the company traded hands, compared to its average volume of 643,962. The stock has a market capitalization of $13.26 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 3.02 and a beta of 0.73. The company's 50 day moving average price is $178.80 and its 200 day moving average price is $175.93. Jack Henry & Associates, Inc. has a 12 month low of $158.62 and a 12 month high of $196.00. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.04.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its earnings results on Tuesday, May 6th. The technology company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.23. The business had revenue of $585.09 million during 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 business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $1.19 earnings per share. On average, equities research analysts anticipate that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.27%. 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.