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Vestcor Inc Sells 1,461 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Jack Henry & Associates logo with Computer and Technology background

Key Points

  • Vestcor Inc reduced its stake in Jack Henry & Associates, selling 1,461 shares and holding a total of 31,695 shares worth approximately $5,788,000 as of the latest filing.
  • Analysts have varying opinions on the stock, with upgrades and downgrades leading to a consensus rating of "Hold" and a target price of $185.11.
  • Jack Henry & Associates reported an earnings per share of $1.52 for the last quarter, surpassing analysts' expectations, with revenues increasing by 8.6% year-over-year.
  • MarketBeat previews top five stocks to own in September.

Vestcor Inc trimmed its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 4.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 31,695 shares of the technology company's stock after selling 1,461 shares during the quarter. Vestcor Inc's holdings in Jack Henry & Associates were worth $5,788,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Invesco Ltd. lifted its position in shares of Jack Henry & Associates by 29.9% during the 4th quarter. Invesco Ltd. now owns 2,050,900 shares of the technology company's stock valued at $359,523,000 after acquiring an additional 471,507 shares during the period. Geode Capital Management LLC raised its holdings in shares of Jack Henry & Associates by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,990,506 shares of the technology company's stock worth $349,796,000 after buying an additional 24,709 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Jack Henry & Associates by 8.9% during the 1st quarter. Handelsbanken Fonder AB now owns 1,007,500 shares of the technology company's stock worth $183,970,000 after buying an additional 82,100 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Jack Henry & Associates by 22.9% during the 4th quarter. Mackenzie Financial Corp now owns 835,244 shares of the technology company's stock worth $146,418,000 after buying an additional 155,831 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Jack Henry & Associates by 9.9% during the 4th quarter. Northern Trust Corp now owns 788,861 shares of the technology company's stock worth $138,287,000 after buying an additional 71,304 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

JKHY has been the subject of a number of research analyst reports. Wall Street Zen cut Jack Henry & Associates from a "buy" rating to a "hold" rating in a report on Monday, July 21st. UBS Group lowered their price target on Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Finally, Keefe, Bruyette & Woods lowered their price target on Jack Henry & Associates from $190.00 to $183.00 and set a "market perform" rating for the company in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $185.11.

Get Our Latest Report on Jack Henry & Associates

Jack Henry & Associates Stock Down 1.5%

NASDAQ:JKHY traded down $2.54 on Friday, hitting $167.28. The stock had a trading volume of 627,091 shares, compared to its average volume of 418,314. The business's fifty day moving average is $179.07 and its 200 day moving average is $176.37. The company has a market cap of $12.18 billion, a PE ratio of 28.50 and a beta of 0.74. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.04. Jack Henry & Associates, Inc. has a 52 week low of $160.23 and a 52 week high of $196.00.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.23. The business had revenue of $585.09 million for the quarter, compared to analyst estimates of $585.84 million. Jack Henry & Associates had a return on equity of 22.07% and a net margin of 18.50%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 earnings per share. On average, equities research analysts expect that Jack Henry & Associates, Inc. will post 5.83 EPS 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. Shareholders 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 annualized dividend and a yield of 1.4%. Jack Henry & Associates's dividend payout ratio is presently 39.52%.

Jack Henry & Associates Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Jack Henry & Associates (NASDAQ:JKHY)

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