Jack Henry & Associates, Inc. (NASDAQ:JKHY) Position Reduced by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Jack Henry & Associates by 2.3%, maintaining ownership of 589,559 shares valued at approximately $107.65 million as of the latest SEC filing.
• Jack Henry & Associates reported $1.52 EPS for the last quarter, beating analysts' estimates of $1.29, with a revenue of $585.09 million for the period.
• The stock has a consensus rating of "Hold" among analysts, with a target price averaging $185.11, and was recently downgraded to a "hold" rating from a "buy" by Wall Street Zen.

TD Asset Management Inc lessened its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 589,559 shares of the technology company's stock after selling 14,011 shares during the period. TD Asset Management Inc owned about 0.81% of Jack Henry & Associates worth $107,653,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Assetmark Inc. raised its position in shares of Jack Henry & Associates by 147.5% in the first quarter. Assetmark Inc. now owns 250 shares of the technology company's stock valued at $46,000 after buying an additional 149 shares during the last quarter. Cetera Investment Advisers increased its position in Jack Henry & Associates by 6.8% during the first quarter. Cetera Investment Advisers now owns 20,885 shares of the technology company's stock worth $3,814,000 after purchasing an additional 1,333 shares during the last quarter. Avantax Advisory Services Inc. increased its position in Jack Henry & Associates by 4.6% during the first quarter. Avantax Advisory Services Inc. now owns 5,169 shares of the technology company's stock worth $944,000 after purchasing an additional 228 shares during the last quarter. Venturi Wealth Management LLC increased its position in Jack Henry & Associates by 17.7% during the first quarter. Venturi Wealth Management LLC now owns 2,457 shares of the technology company's stock worth $449,000 after purchasing an additional 369 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in Jack Henry & Associates by 2.1% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,115 shares of the technology company's stock worth $569,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company's stock.

Jack Henry & Associates Stock Up 0.1%

JKHY traded up $0.14 during trading hours on Wednesday, reaching $175.58. 110,863 shares of the stock traded hands, compared to its average volume of 610,055. The firm's fifty day simple moving average is $179.79 and its two-hundred day simple moving average is $176.45. The company has a market cap of $12.79 billion, a price-to-earnings ratio of 29.91 and a beta of 0.72. Jack Henry & Associates, Inc. has a fifty-two week low of $160.23 and a fifty-two week high of $196.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.36 and a quick ratio of 1.36.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its quarterly 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. The business had revenue of $585.09 million during the quarter, compared to analyst estimates of $585.84 million. Jack Henry & Associates had a net margin of 18.50% and a return on equity of 22.07%. The business's revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $1.19 EPS. As a group, analysts forecast that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, May 29th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Thursday, May 29th. Jack Henry & Associates's payout ratio is 39.52%.

Analysts Set New Price Targets

Several brokerages recently commented on JKHY. 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 for the company in a research report on Wednesday, April 2nd. Wall Street Zen lowered shares of Jack Henry & Associates from a "buy" rating to a "hold" rating in a research report on Monday, July 21st. UBS Group dropped their price objective on shares of 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, Keefe, Bruyette & Woods dropped their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $185.11.

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.