New York Life Investment Management LLC Trims Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

New York Life Investment Management LLC cut its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 3.2% in the 4th quarter, Holdings Channel reports. The fund owned 17,479 shares of the technology company’s stock after selling 587 shares during the quarter. New York Life Investment Management LLC’s holdings in Jack Henry & Associates were worth $3,064,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in Jack Henry & Associates by 7.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock valued at $316,326,000 after acquiring an additional 131,515 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Jack Henry & Associates during the 3rd quarter worth approximately $618,000. Nordea Investment Management AB raised its stake in shares of Jack Henry & Associates by 50.8% during the 4th quarter. Nordea Investment Management AB now owns 780,319 shares of the technology company’s stock worth $136,720,000 after buying an additional 263,021 shares in the last quarter. Pensionfund Sabic purchased a new position in shares of Jack Henry & Associates during the 4th quarter worth approximately $1,315,000. Finally, XTX Topco Ltd raised its stake in shares of Jack Henry & Associates by 137.3% during the 3rd quarter. XTX Topco Ltd now owns 7,761 shares of the technology company’s stock worth $1,370,000 after buying an additional 4,491 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Jack Henry & Associates Price Performance

Shares of NASDAQ:JKHY opened at $173.59 on Friday. The business’s fifty day moving average price is $172.99 and its two-hundred day moving average price is $175.03. The stock has a market cap of $12.65 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 3.36 and a beta of 0.61. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17. Jack Henry & Associates, Inc. has a one year low of $157.00 and a one year high of $189.63.

Jack Henry & Associates (NASDAQ:JKHY) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.34 EPS for the quarter, missing analysts’ consensus estimates 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, analysts forecast that Jack Henry & Associates, Inc. will post 5.83 EPS for the current fiscal year.

Jack Henry & Associates Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.58 per share. This is a boost from Jack Henry & Associates’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, March 6th. This represents a $2.32 annualized dividend and a dividend yield of 1.34%. Jack Henry & Associates’s dividend payout ratio (DPR) is 41.88%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on JKHY shares. Wells Fargo & Company started coverage on Jack Henry & Associates in a research note on Tuesday, January 14th. They set an “underweight” rating and a $155.00 target price for the company. StockNews.com downgraded Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Stephens reissued an “equal weight” rating and set a $170.00 target price on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. William Blair reissued an “outperform” rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. Finally, UBS Group increased their target price on Jack Henry & Associates from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $186.80.

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.