Schwartz Investment Counsel Inc. Has $4.62 Million Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Schwartz Investment Counsel Inc. lowered its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 88.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,300 shares of the technology company's stock after selling 185,700 shares during the period. Schwartz Investment Counsel Inc.'s holdings in Jack Henry & Associates were worth $4,620,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in JKHY. Bank of New York Mellon Corp grew its stake in Jack Henry & Associates by 11.1% during the fourth quarter. Bank of New York Mellon Corp now owns 706,048 shares of the technology company's stock worth $123,770,000 after purchasing an additional 70,540 shares during the period. Los Angeles Capital Management LLC grew its stake in Jack Henry & Associates by 12.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 13,419 shares of the technology company's stock worth $2,352,000 after purchasing an additional 1,538 shares during the period. National Pension Service acquired a new stake in Jack Henry & Associates during the fourth quarter worth approximately $27,000. Oppenheimer & Co. Inc. grew its stake in Jack Henry & Associates by 0.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 12,702 shares of the technology company's stock worth $2,227,000 after purchasing an additional 119 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Jack Henry & Associates in the fourth quarter valued at approximately $5,931,000. Institutional investors and hedge funds own 98.75% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on JKHY. Keefe, Bruyette & Woods reduced their price objective 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. Northcoast Research cut Jack Henry & Associates from a "buy" rating to a "neutral" rating in a research note on Monday, March 10th. UBS Group reduced their price objective on 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. Wall Street Zen raised Jack Henry & Associates from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, The Goldman Sachs Group raised Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 price objective for the company in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $185.11.

Jack Henry & Associates Stock Up 0.4%

JKHY stock opened at $178.32 on Friday. Jack Henry & Associates, Inc. has a twelve month low of $158.62 and a twelve month 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's 50 day moving average is $178.44 and its 200-day moving average is $175.97. The firm has a market capitalization of $12.98 billion, a PE ratio of 30.38, a P/E/G ratio of 3.01 and a beta of 0.73.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The technology company reported $1.52 earnings per share 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 for the quarter, compared to analyst estimates of $585.84 million. During the same quarter last year, the company earned $1.19 earnings per share. The company's revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts expect that Jack Henry & Associates, Inc. will post 5.83 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th were issued a $0.58 dividend. The ex-dividend date was Thursday, May 29th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.30%. Jack Henry & Associates's dividend payout ratio is presently 39.52%.

About Jack Henry & Associates

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.

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.