Teacher Retirement System of Texas Cuts Stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Teacher Retirement System of Texas reduced its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 84.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,666 shares of the technology company's stock after selling 56,901 shares during the period. Teacher Retirement System of Texas' holdings in Jack Henry & Associates were worth $1,948,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in JKHY. SG Americas Securities LLC boosted its stake in shares of Jack Henry & Associates by 169.0% during the first quarter. SG Americas Securities LLC now owns 3,349 shares of the technology company's stock valued at $612,000 after purchasing an additional 2,104 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Jack Henry & Associates by 11.4% during the first quarter. Asset Management One Co. Ltd. now owns 31,725 shares of the technology company's stock worth $5,793,000 after purchasing an additional 3,237 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Jack Henry & Associates by 9.7% during the first quarter. GAMMA Investing LLC now owns 2,559 shares of the technology company's stock worth $467,000 after purchasing an additional 227 shares during the last quarter. AGF Management Ltd. acquired a new stake in Jack Henry & Associates during the fourth quarter valued at $305,000. Finally, Blue Trust Inc. grew its position in Jack Henry & Associates by 201.0% during the first quarter. Blue Trust Inc. now owns 602 shares of the technology company's stock valued at $110,000 after buying an additional 402 shares during the period. 98.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JKHY has been the topic of several research analyst reports. UBS Group dropped 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. 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. Wall Street Zen upgraded shares of Jack Henry & Associates from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Keefe, Bruyette & Woods dropped 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 analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $185.11.

Jack Henry & Associates Trading Down 2.4%

Shares of Jack Henry & Associates stock traded down $4.37 on Friday, reaching $175.19. The company had a trading volume of 439,436 shares, compared to its average volume of 571,569. The firm's 50 day moving average price is $180.10 and its two-hundred day moving average price is $176.12. The firm has a market cap of $12.76 billion, a PE ratio of 29.84 and a beta of 0.72. Jack Henry & Associates, Inc. has a 52-week low of $160.23 and a 52-week 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.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.23. The business had revenue of $585.09 million for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $1.19 EPS. Sell-side 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, May 29th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Thursday, May 29th. Jack Henry & Associates's payout ratio is currently 39.52%.

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.