Los Angeles Capital Management LLC Lowers Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Los Angeles Capital Management LLC cut its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 32.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,881 shares of the technology company’s stock after selling 5,830 shares during the period. Los Angeles Capital Management LLC’s holdings in Jack Henry & Associates were worth $2,097,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Empowered Funds LLC acquired a new stake in Jack Henry & Associates in the first quarter valued at about $838,000. Russell Investments Group Ltd. lifted its holdings in shares of Jack Henry & Associates by 0.8% in the 1st quarter. Russell Investments Group Ltd. now owns 46,872 shares of the technology company’s stock valued at $8,138,000 after buying an additional 391 shares during the period. Bleakley Financial Group LLC boosted its stake in shares of Jack Henry & Associates by 7.3% in the first quarter. Bleakley Financial Group LLC now owns 5,775 shares of the technology company’s stock valued at $1,003,000 after buying an additional 395 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Jack Henry & Associates by 8.4% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 6,174 shares of the technology company’s stock worth $1,073,000 after acquiring an additional 476 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new stake in Jack Henry & Associates in the first quarter valued at $206,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Jack Henry & Associates Stock Down 1.2 %

Shares of NASDAQ:JKHY opened at $174.95 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.11 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $12.76 billion, a P/E ratio of 32.04, a P/E/G ratio of 3.34 and a beta of 0.63. Jack Henry & Associates, Inc. has a 52-week low of $151.05 and a 52-week high of $189.63. The stock’s fifty day simple moving average is $179.40 and its 200-day simple moving average is $170.87.

Jack Henry & Associates (NASDAQ:JKHY) last released its earnings results on Tuesday, November 5th. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. The company had revenue of $600.98 million for the quarter, compared to analyst estimates of $599.56 million. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.39 EPS. As a group, equities research analysts forecast that Jack Henry & Associates, Inc. will post 5.8 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.26%. Jack Henry & Associates’s payout ratio is currently 40.29%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on JKHY. UBS Group upped their price target on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price target on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Oppenheimer started coverage on Jack Henry & Associates in a report on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 price target on the stock. Robert W. Baird lifted their price objective on Jack Henry & Associates from $186.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods boosted their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $188.73.

About Jack Henry & Associates

Jack Henry & Associates, Inc, a financial technology company that connects people and financial institutions through technology solutions and payment processing services that reduce the barriers to financial health. It operates through four segments: Core, Payments, Complementary, and Corporate and Other.