Pinebridge Investments L.P. Lowers Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Pinebridge Investments L.P. reduced its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,573 shares of the technology company's stock after selling 23,116 shares during the period. Pinebridge Investments L.P. owned 0.14% of Jack Henry & Associates worth $17,280,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JKHY. JPMorgan Chase & Co. increased its position in shares of Jack Henry & Associates by 7.9% during the third quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company's stock worth $316,326,000 after acquiring an additional 131,515 shares in the last quarter. Enterprise Financial Services Corp purchased a new stake in Jack Henry & Associates in the fourth quarter worth $900,000. Cobblestone Capital Advisors LLC NY increased its position in Jack Henry & Associates by 21.4% in the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 121,782 shares of the technology company's stock worth $21,348,000 after buying an additional 21,466 shares during the last quarter. Andra AP fonden increased its position in Jack Henry & Associates by 10.7% in the fourth quarter. Andra AP fonden now owns 29,900 shares of the technology company's stock worth $5,241,000 after buying an additional 2,900 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Jack Henry & Associates by 50.8% in the fourth quarter. Nordea Investment Management AB now owns 780,319 shares of the technology company's stock valued at $136,720,000 after purchasing an additional 263,021 shares in the last quarter. 98.75% of the stock is owned by institutional investors.

Jack Henry & Associates Trading Up 1.1 %

NASDAQ:JKHY traded up $1.93 during mid-day trading on Tuesday, reaching $171.98. 178,100 shares of the company's stock traded hands, compared to its average volume of 540,494. Jack Henry & Associates, Inc. has a 12-month low of $157.00 and a 12-month high of $196.00. The company has a 50 day moving average price of $174.94 and a 200-day moving average price of $175.62. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 3.36 and a beta of 0.71.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. On average, sell-side analysts predict that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current year.

Jack Henry & Associates Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $2.32 annualized dividend and a yield of 1.35%. This is a positive change from Jack Henry & Associates's previous quarterly dividend of $0.55. Jack Henry & Associates's dividend payout ratio (DPR) is currently 41.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JKHY shares. William Blair reissued an "outperform" rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. The Goldman Sachs Group raised Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 price target for the company in a research note on Wednesday, April 2nd. Northcoast Research lowered Jack Henry & Associates from a "buy" rating to a "neutral" rating in a research note on Monday, March 10th. Finally, Wells Fargo & Company initiated coverage on Jack Henry & Associates in a research note on Tuesday, January 14th. They issued an "underweight" rating and a $155.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Jack Henry & Associates presently has a consensus rating of "Hold" and a consensus target price of $186.45.

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.