First Trust Advisors LP cut its stake in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 60.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,394 shares of the technology company’s stock after selling 116,915 shares during the quarter. First Trust Advisors LP owned about 0.10% of Jack Henry & Associates worth $10,599,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Rational Advisors LLC bought a new stake in shares of Jack Henry & Associates during the first quarter valued at approximately $2,327,000. Piedmont Investment Advisors Inc. raised its holdings in shares of Jack Henry & Associates by 1.5% during the first quarter. Piedmont Investment Advisors Inc. now owns 6,810 shares of the technology company’s stock valued at $945,000 after buying an additional 99 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Jack Henry & Associates during the first quarter valued at approximately $1,189,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Jack Henry & Associates by 10.6% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 46,800 shares of the technology company’s stock valued at $6,493,000 after buying an additional 4,500 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in Jack Henry & Associates by 4.4% during the first quarter. Great West Life Assurance Co. Can now owns 118,768 shares of the technology company’s stock worth $16,444,000 after purchasing an additional 4,960 shares in the last quarter. 89.65% of the stock is currently owned by institutional investors.
Shares of JKHY stock traded down $0.62 on Friday, hitting $133.92. The company’s stock had a trading volume of 507,370 shares, compared to its average volume of 450,904. The firm has a market cap of $10.34 billion, a PE ratio of 37.30, a price-to-earnings-growth ratio of 3.49 and a beta of 0.96. Jack Henry & Associates, Inc. has a fifty-two week low of $120.20 and a fifty-two week high of $163.68. The firm’s fifty day moving average price is $135.00.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Thursday, May 23rd were paid a $0.40 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.19%. Jack Henry & Associates’s payout ratio is currently 44.57%.
Several equities research analysts recently commented on JKHY shares. Keefe, Bruyette & Woods started coverage on Jack Henry & Associates in a report on Monday, April 8th. They set a “market perform” rating and a $145.00 target price on the stock. BidaskClub lowered shares of Jack Henry & Associates from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 4th. Cantor Fitzgerald reiterated a “buy” rating and set a $150.00 price objective on shares of Jack Henry & Associates in a research report on Tuesday, April 30th. Finally, Zacks Investment Research cut shares of Jack Henry & Associates from a “hold” rating to a “sell” rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Jack Henry & Associates has a consensus rating of “Hold” and an average price target of $150.40.
In related news, Director Matthew C. Flanigan sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $137.70, for a total value of $688,500.00. Following the transaction, the director now directly owns 49,226 shares in the company, valued at $6,778,420.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wesley A. Brown sold 400 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $134.98, for a total transaction of $53,992.00. Following the completion of the transaction, the director now owns 85,965 shares in the company, valued at $11,603,555.70. The disclosure for this sale can be found here. Insiders have sold 9,221 shares of company stock worth $1,267,422 over the last ninety days. Insiders own 0.84% of the company’s stock.
Jack Henry & Associates Profile
Jack Henry & Associates, Inc provides technology solutions and payment processing services primarily for financial services organizations in the United States. The company offers information and transaction processing solutions for banks ranging from community to multi-billion dollar institutions under the Jack Henry Banking brand; core data processing solutions for various credit unions under the Symitar brand; and specialized financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions to financial institutions and corporate entities under the ProfitStars brand.
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