NewEdge Advisors LLC Lowers Holdings in Jack Henry & Associates, Inc. $JKHY

NewEdge Advisors LLC lowered its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 69.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,710 shares of the technology company’s stock after selling 3,967 shares during the period. NewEdge Advisors LLC’s holdings in Jack Henry & Associates were worth $270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in shares of Jack Henry & Associates by 13,343.0% in the 1st quarter. Janus Henderson Group PLC now owns 1,078,398 shares of the technology company’s stock valued at $170,430,000 after buying an additional 1,070,376 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Jack Henry & Associates by 160.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,350,393 shares of the technology company’s stock worth $246,420,000 after acquiring an additional 831,372 shares during the period. Norges Bank purchased a new position in Jack Henry & Associates during the fourth quarter valued at approximately $128,744,000. Northwestern Mutual Wealth Management Co. raised its position in Jack Henry & Associates by 6,728.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 621,546 shares of the technology company’s stock valued at $113,420,000 after acquiring an additional 612,444 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its position in Jack Henry & Associates by 560.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 557,078 shares of the technology company’s stock valued at $101,656,000 after acquiring an additional 472,698 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on JKHY shares. Weiss Ratings lowered Jack Henry & Associates from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. DA Davidson reaffirmed a “buy” rating and set a $198.00 target price on shares of Jack Henry & Associates in a report on Monday, May 11th. Barclays started coverage on shares of Jack Henry & Associates in a report on Tuesday, July 7th. They set an “overweight” rating and a $170.00 target price for the company. Royal Bank Of Canada decreased their target price on shares of Jack Henry & Associates from $180.00 to $173.00 and set an “outperform” rating for the company in a research note on Thursday, June 18th. Finally, The Goldman Sachs Group lowered their price target on shares of Jack Henry & Associates from $180.00 to $161.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $186.07.

Insider Buying and Selling at Jack Henry & Associates

In related news, CFO Mimi Carsley acquired 375 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average cost of $134.12 per share, with a total value of $50,295.00. Following the completion of the acquisition, the chief financial officer directly owned 6,007 shares in the company, valued at approximately $805,658.84. This trade represents a 6.66% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory R. Adelson bought 2,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $133.42 per share, for a total transaction of $266,840.00. Following the transaction, the chief executive officer owned 21,036 shares of the company’s stock, valued at approximately $2,806,623.12. This trade represents a 10.51% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.60% of the stock is currently owned by insiders.

Jack Henry & Associates Stock Up 0.1%

Shares of JKHY opened at $156.63 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. Jack Henry & Associates, Inc. has a 12 month low of $121.04 and a 12 month high of $193.39. The stock’s 50 day moving average is $140.66 and its two-hundred day moving average is $153.51. The firm has a market cap of $11.13 billion, a P/E ratio of 21.91, a PEG ratio of 2.20 and a beta of 0.55.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, May 5th. The technology company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.28. Jack Henry & Associates had a return on equity of 24.03% and a net margin of 20.64%.The business had revenue of $615.93 million during the quarter, compared to the consensus estimate of $619.67 million. During the same period in the prior year, the company posted $1.52 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts predict that Jack Henry & Associates, Inc. will post 6.84 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Monday, June 1st were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 1st. Jack Henry & Associates’s payout ratio is presently 34.13%.

Jack Henry & Associates Profile

Jack Henry & Associates, Inc is a leading provider of technology solutions and payment processing services for the financial services industry. Founded in 1976 and headquartered in Monett, Missouri, the company develops and supports a comprehensive suite of software and services designed to help banks, credit unions and other financial institutions streamline operations, improve customer engagement and manage risk.

The company’s core processing platforms deliver end-to-end account processing, general ledger, deposit operations and loan servicing functionality.