Zurcher Kantonalbank Zurich Cantonalbank Sells 2,712 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in Jack Henry & Associates by 8.6%, selling 2,712 shares and holding 29,004 shares valued at approximately $5.3 million.
• A number of hedge funds increased their stakes in Jack Henry & Associates during the first quarter, with institutional investors now owning 98.75% of the company's stock.
• Jack Henry & Associates reported a quarterly earnings per share of $1.52, exceeding the consensus estimate by $0.23, while also announcing a dividend of $0.58 paid in June.

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,004 shares of the technology company's stock after selling 2,712 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Jack Henry & Associates were worth $5,296,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Cullen Frost Bankers Inc. purchased a new stake in shares of Jack Henry & Associates in the first quarter worth $38,000. Assetmark Inc. raised its position in Jack Henry & Associates by 147.5% during the first quarter. Assetmark Inc. now owns 250 shares of the technology company's stock valued at $46,000 after purchasing an additional 149 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in Jack Henry & Associates during the fourth quarter valued at about $54,000. Menard Financial Group LLC purchased a new stake in Jack Henry & Associates during the fourth quarter valued at about $60,000. Finally, Brown Brothers Harriman & Co. raised its position in Jack Henry & Associates by 603.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the technology company's stock valued at $64,000 after purchasing an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

Jack Henry & Associates Stock Performance

JKHY traded down $2.54 during mid-day trading on Friday, reaching $167.28. 627,091 shares of the company traded hands, compared to its average volume of 418,314. The stock has a market capitalization of $12.18 billion, a P/E 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. The company's fifty day moving average price is $179.07 and its 200-day moving average price is $176.40. 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 issued its quarterly earnings data 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. Jack Henry & Associates had a net margin of 18.50% and a return on equity of 22.07%. The firm had revenue of $585.09 million during the quarter, compared to the consensus estimate of $585.84 million. During the same quarter in the previous year, the firm posted $1.19 EPS. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, sell-side analysts expect that Jack Henry & Associates, Inc. will post 5.83 EPS for the current year.

Jack Henry & Associates Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.4%. Jack Henry & Associates's payout ratio is presently 39.52%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on JKHY shares. UBS Group decreased their price objective on Jack Henry & Associates from $190.00 to $185.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Keefe, Bruyette & Woods decreased their target price 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. Finally, Wall Street Zen upgraded shares of Jack Henry & Associates from a "hold" rating to a "buy" rating in a report on Saturday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $185.11.

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.