JGP Wealth Management LLC Decreases Holdings in Jack Henry & Associates, Inc. $JKHY

JGP Wealth Management LLC trimmed its holdings in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 61.1% during the second quarter, HoldingsChannel reports. The firm owned 11,901 shares of the technology company’s stock after selling 18,710 shares during the quarter. JGP Wealth Management LLC’s holdings in Jack Henry & Associates were worth $1,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in JKHY. Integrated Wealth Concepts LLC raised its position in Jack Henry & Associates by 21.2% in the first quarter. Integrated Wealth Concepts LLC now owns 2,102 shares of the technology company’s stock worth $384,000 after acquiring an additional 367 shares during the period. Empowered Funds LLC boosted its stake in Jack Henry & Associates by 8.8% in the first quarter. Empowered Funds LLC now owns 7,184 shares of the technology company’s stock valued at $1,312,000 after acquiring an additional 584 shares during the last quarter. Woodline Partners LP grew its position in shares of Jack Henry & Associates by 40.6% during the 1st quarter. Woodline Partners LP now owns 6,159 shares of the technology company’s stock valued at $1,125,000 after acquiring an additional 1,778 shares during the period. Jane Street Group LLC bought a new position in shares of Jack Henry & Associates during the 1st quarter valued at approximately $9,430,000. Finally, Focus Partners Wealth increased its stake in shares of Jack Henry & Associates by 15.1% during the 1st quarter. Focus Partners Wealth now owns 1,387 shares of the technology company’s stock worth $253,000 after purchasing an additional 182 shares during the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Jack Henry & Associates Stock Down 1.4%

Shares of NASDAQ JKHY opened at $154.41 on Thursday. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 2.20 and a beta of 0.55. The firm’s fifty day moving average is $141.02 and its 200 day moving average is $153.25. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.04. Jack Henry & Associates, Inc. has a 52 week low of $121.04 and a 52 week high of $193.39.

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

Jack Henry & Associates Announces Dividend

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

Insider Transactions at Jack Henry & Associates

In other news, CFO Mimi Carsley bought 375 shares of the stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $134.12 per share, with a total value of $50,295.00. Following the completion of the acquisition, the chief financial officer owned 6,007 shares in the company, valued at $805,658.84. The trade was a 6.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory R. Adelson purchased 2,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $133.42 per share, for a total transaction of $266,840.00. Following the completion of the transaction, the chief executive officer directly 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 position. The SEC filing for this purchase provides additional information. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on JKHY. Barclays began coverage on shares of Jack Henry & Associates in a report on Tuesday, July 7th. They issued an “overweight” rating and a $170.00 price target on the stock. Royal Bank Of Canada decreased their target price on Jack Henry & Associates from $180.00 to $173.00 and set an “outperform” rating for the company in a research report on Thursday, June 18th. The Goldman Sachs Group lowered their target price on Jack Henry & Associates from $180.00 to $161.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. DA Davidson reaffirmed a “buy” rating and set a $198.00 price target on shares of Jack Henry & Associates in a research report on Monday, May 11th. Finally, UBS Group set a $165.00 price target on Jack Henry & Associates in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $186.07.

About Jack Henry & Associates

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.