Vanguard Group Inc. Sells 12,065 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Key Points

• Vanguard Group Inc. reduced its holdings in Jack Henry & Associates by 0.1% during Q1, owning 8,799,308 shares valued at approximately $1.61 billion after selling 12,065 shares.
• Several hedge funds increased their stakes in Jack Henry & Associates, with notable boosts from Handelsbanken Fonder AB (+8.9%) and Deutsche Bank AG (+170.6%) in the last quarter.
• The stock currently has a consensus rating of "Hold" and an average price target of $185.11, following recent adjustments by analysts such as UBS Group and Keefe, Bruyette & Woods.

Vanguard Group Inc. reduced its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 0.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,799,308 shares of the technology company's stock after selling 12,065 shares during the period. Vanguard Group Inc. owned 12.07% of Jack Henry & Associates worth $1,606,754,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Axxcess Wealth Management LLC raised its position in shares of Jack Henry & Associates by 2.3% during the first quarter. Axxcess Wealth Management LLC now owns 2,622 shares of the technology company's stock valued at $479,000 after buying an additional 59 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake 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 buying an additional 64 shares during the last quarter. AdvisorNet Financial Inc grew its stake in Jack Henry & Associates by 9.8% during the first quarter. AdvisorNet Financial Inc now owns 838 shares of the technology company's stock worth $153,000 after buying an additional 75 shares during the last quarter. Smith Shellnut Wilson LLC ADV grew its stake in Jack Henry & Associates by 1.1% during the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 7,062 shares of the technology company's stock worth $1,238,000 after buying an additional 77 shares during the last quarter. Finally, Freedom Investment Management Inc. grew its stake in shares of Jack Henry & Associates by 4.5% during the fourth quarter. Freedom Investment Management Inc. now owns 1,970 shares of the technology company's stock valued at $345,000 after purchasing an additional 85 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Jack Henry & Associates

In other news, Director David B. Foss sold 5,780 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $167.28, for a total transaction of $966,878.40. Following the transaction, the director owned 139,265 shares in the company, valued at approximately $23,296,249.20. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on JKHY shares. UBS Group decreased their price target on shares of 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. Keefe, Bruyette & Woods cut 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 report on Thursday, May 8th. Finally, Wall Street Zen raised shares of Jack Henry & Associates from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Jack Henry & Associates has an average rating of "Hold" and an average target price of $185.11.

Jack Henry & Associates Trading Down 2.1%

NASDAQ JKHY traded down $3.43 during mid-day trading on Thursday, reaching $159.94. 343,723 shares of the stock were exchanged, compared to its average volume of 623,565. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market cap of $11.65 billion, a P/E ratio of 27.26 and a beta of 0.73. The stock has a 50 day simple moving average of $176.26 and a 200-day simple moving average of $175.84. Jack Henry & Associates, Inc. has a one year low of $157.80 and a one year high of $196.00.

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.