Riverbridge Partners LLC Trims Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Riverbridge Partners LLC trimmed its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 6.8% in the 4th quarter, HoldingsChannel reports. The fund owned 144,062 shares of the technology company’s stock after selling 10,452 shares during the quarter. Riverbridge Partners LLC’s holdings in Jack Henry & Associates were worth $25,254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in Jack Henry & Associates by 10.2% in the 2nd quarter. American Century Companies Inc. now owns 22,554 shares of the technology company’s stock valued at $3,744,000 after buying an additional 2,079 shares during the period. Dimensional Fund Advisors LP grew its position in Jack Henry & Associates by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 515,586 shares of the technology company’s stock valued at $85,602,000 after acquiring an additional 30,359 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Jack Henry & Associates by 11.6% in the second quarter. Pacer Advisors Inc. now owns 6,417 shares of the technology company’s stock valued at $1,065,000 after purchasing an additional 665 shares during the period. Sei Investments Co. boosted its position in Jack Henry & Associates by 3.4% in the 2nd quarter. Sei Investments Co. now owns 140,766 shares of the technology company’s stock valued at $23,369,000 after buying an additional 4,565 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in Jack Henry & Associates by 74.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 2,795 shares of the technology company’s stock worth $464,000 after purchasing an additional 1,189 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Insider Buying and Selling

In related news, insider David B. Foss sold 18,770 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total value of $3,215,676.40. Following the sale, the insider now owns 138,665 shares of the company’s stock, valued at approximately $23,756,087.80. This represents a 11.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.37% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on JKHY shares. UBS Group lifted 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. Oppenheimer started coverage on shares of Jack Henry & Associates in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $206.00 price objective for the company. William Blair downgraded shares of Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Royal Bank of Canada upped their target price on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Finally, Stephens reaffirmed an “equal weight” rating and set a $170.00 price objective on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $186.80.

Jack Henry & Associates Stock Down 0.7 %

JKHY opened at $173.54 on Thursday. The business has a 50 day simple moving average of $174.47 and a 200-day simple moving average of $174.16. Jack Henry & Associates, Inc. has a 12 month low of $157.00 and a 12 month high of $189.63. The stock has a market capitalization of $12.66 billion, a P/E ratio of 31.78, a P/E/G ratio of 3.29 and a beta of 0.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.11 and a quick ratio of 1.11.

Jack Henry & Associates (NASDAQ:JKHY) last announced its quarterly 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. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The business had revenue of $600.98 million during the quarter, compared to the consensus estimate of $599.56 million. During the same quarter last year, the firm posted $1.39 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that Jack Henry & Associates, Inc. will post 5.81 earnings per share for the current fiscal year.

Jack Henry & Associates Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Monday, December 2nd were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Monday, December 2nd. Jack Henry & Associates’s payout ratio is currently 40.29%.

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.