Jack Henry & Associates, Inc. (NASDAQ:JKHY) Shares Sold by Quest Partners LLC

Quest Partners LLC lowered its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 46.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,905 shares of the technology company’s stock after selling 3,323 shares during the period. Quest Partners LLC’s holdings in Jack Henry & Associates were worth $648,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Strategic Financial Concepts LLC acquired a new position in shares of Jack Henry & Associates during the second quarter worth about $25,000. Tortoise Investment Management LLC grew its holdings in Jack Henry & Associates by 76.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company’s stock worth $27,000 after acquiring an additional 71 shares in the last quarter. New Covenant Trust Company N.A. purchased a new stake in shares of Jack Henry & Associates in the 1st quarter valued at approximately $30,000. Blue Trust Inc. raised its holdings in shares of Jack Henry & Associates by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 224 shares of the technology company’s stock valued at $39,000 after purchasing an additional 134 shares in the last quarter. Finally, Riverview Trust Co purchased a new stake in Jack Henry & Associates during the 1st quarter worth about $51,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on JKHY. StockNews.com upgraded Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods raised their price objective on Jack Henry & Associates from $178.00 to $180.00 and gave the stock a “market perform” rating in a report on Thursday, August 22nd. Evercore ISI boosted their target price on Jack Henry & Associates from $172.00 to $175.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Compass Point initiated coverage on Jack Henry & Associates in a research note on Wednesday, September 4th. They set a “neutral” rating and a $186.00 price target on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $181.00 price objective on shares of Jack Henry & Associates in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Jack Henry & Associates has a consensus rating of “Hold” and a consensus target price of $177.25.

Jack Henry & Associates Stock Performance

NASDAQ:JKHY opened at $174.01 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $12.69 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 3.01 and a beta of 0.64. The firm’s fifty day moving average price is $168.05 and its 200 day moving average price is $167.74. Jack Henry & Associates, Inc. has a 1-year low of $136.57 and a 1-year high of $178.37.

Jack Henry & Associates (NASDAQ:JKHY) last issued its earnings results on Tuesday, August 20th. The technology company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.08. The business had revenue of $559.91 million for the quarter, compared to the consensus estimate of $563.37 million. Jack Henry & Associates had a net margin of 17.23% and a return on equity of 21.63%. During the same quarter in the previous year, the firm earned $1.34 earnings per share. On average, sell-side analysts expect that Jack Henry & Associates, Inc. will post 5.79 EPS for the current year.

Jack Henry & Associates Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, September 6th. Jack Henry & Associates’s dividend payout ratio (DPR) is 42.47%.

Jack Henry & Associates Profile

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.