Metropolitan Life Insurance Co NY Reduces Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Metropolitan Life Insurance Co NY reduced its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,667 shares of the technology company’s stock after selling 485 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Jack Henry & Associates were worth $2,034,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of JKHY. Cleararc Capital Inc. bought a new stake in shares of Jack Henry & Associates in the 1st quarter valued at about $261,000. Nordea Investment Management AB grew its stake in Jack Henry & Associates by 28.0% in the 1st quarter. Nordea Investment Management AB now owns 4,329 shares of the technology company’s stock valued at $600,000 after buying an additional 947 shares during the last quarter. Advisory Services Network LLC grew its stake in Jack Henry & Associates by 33.2% in the 1st quarter. Advisory Services Network LLC now owns 329 shares of the technology company’s stock valued at $45,000 after buying an additional 82 shares during the last quarter. GYL Financial Synergies LLC acquired a new position in Jack Henry & Associates in the 1st quarter valued at about $1,000,000. Finally, Clearbridge Investments LLC grew its stake in Jack Henry & Associates by 37.7% in the 1st quarter. Clearbridge Investments LLC now owns 363,288 shares of the technology company’s stock valued at $50,403,000 after buying an additional 99,530 shares during the last quarter. 89.65% of the stock is currently owned by institutional investors.

A number of research analysts have issued reports on JKHY shares. BidaskClub lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Cantor Fitzgerald restated a “buy” rating and set a $15.00 target price on shares of Foamix Pharmaceuticals in a research report on Tuesday, May 7th. Keefe, Bruyette & Woods started coverage on shares of Fiserv in a report on Monday, April 8th. They set a “market perform” rating and a $101.00 price target for the company. Finally, Zacks Investment Research raised shares of HENKEL AG & CO/S from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. One equities research 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. The stock has a consensus rating of “Hold” and a consensus price target of $150.40.

In other Jack Henry & Associates news, Director Matthew C. Flanigan sold 5,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 49,226 shares in the company, valued at $6,778,420.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wesley A. Brown sold 400 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $134.98, for a total transaction of $53,992.00. Following the completion of the sale, the director now owns 85,965 shares of the company’s stock, valued at $11,603,555.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,221 shares of company stock valued at $1,267,422. 0.84% of the stock is currently owned by corporate insiders.

Shares of JKHY stock traded up $1.02 during trading hours on Friday, hitting $139.91. 397,814 shares of the company’s stock traded hands, compared to its average volume of 352,726. The firm has a 50 day moving average price of $135.43. The stock has a market cap of $10.80 billion, a PE ratio of 38.97, a PEG ratio of 3.38 and a beta of 0.91. Jack Henry & Associates, Inc. has a 12 month low of $120.20 and a 12 month high of $163.68.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.77 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. Jack Henry & Associates had a net margin of 18.79% and a return on equity of 21.72%. The firm had revenue of $380.36 million during the quarter, compared to the consensus estimate of $382.45 million. During the same quarter last year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Sell-side analysts expect that Jack Henry & Associates, Inc. will post 3.5 earnings per share for the current year.

Jack Henry & Associates Company 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.

Further Reading: Why do company’s buyback their stock?

Institutional Ownership by Quarter for Jack Henry & Associates (NASDAQ:JKHY)

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