Retirement Systems of Alabama Reduces Stock Position in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Retirement Systems of Alabama lowered its position in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,666 shares of the technology company’s stock after selling 131 shares during the period. Retirement Systems of Alabama’s holdings in Jack Henry & Associates were worth $2,861,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Jack Henry & Associates by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 8,811,373 shares of the technology company’s stock valued at $1,544,634,000 after purchasing an additional 157,360 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Jack Henry & Associates by 29.9% during the 4th quarter. Invesco Ltd. now owns 2,050,900 shares of the technology company’s stock valued at $359,523,000 after purchasing an additional 471,507 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Jack Henry & Associates by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,990,506 shares of the technology company’s stock valued at $349,796,000 after purchasing an additional 24,709 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Jack Henry & Associates by 95.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,318,691 shares of the technology company’s stock valued at $229,057,000 after purchasing an additional 643,697 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Jack Henry & Associates by 8.9% during the 1st quarter. Handelsbanken Fonder AB now owns 1,007,500 shares of the technology company’s stock valued at $183,970,000 after purchasing an additional 82,100 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analyst Ratings Changes

JKHY has been the topic of a number of research reports. Wall Street Zen raised shares of Jack Henry & Associates from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Northcoast Research lowered shares of Jack Henry & Associates from a “buy” rating to a “neutral” rating in a research note on Monday, March 10th. The Goldman Sachs Group raised shares of Jack Henry & Associates from a “sell” rating to a “neutral” rating and set a $183.00 target price on the stock in a research note on Wednesday, April 2nd. UBS Group lowered their price target on shares of Jack Henry & Associates from $190.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Jack Henry & Associates from $190.00 to $183.00 and set a “market perform” rating for the company in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $185.11.

Jack Henry & Associates Trading Down 1.6%

Shares of NASDAQ JKHY opened at $178.06 on Thursday. Jack Henry & Associates, Inc. has a 1 year low of $158.62 and a 1 year high of $196.00. The stock has a market cap of $12.97 billion, a P/E ratio of 30.33, a price-to-earnings-growth ratio of 3.07 and a beta of 0.73. The firm has a 50-day moving average of $178.32 and a 200 day moving average of $175.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.36 and a quick ratio of 1.36.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.23. The business had revenue of $585.09 million during the quarter, compared to analyst estimates of $585.84 million. Jack Henry & Associates had a net margin of 18.50% and a return on equity of 22.07%. Jack Henry & Associates’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $1.19 EPS. As a group, sell-side analysts expect that Jack Henry & Associates, Inc. will post 5.83 EPS for the current fiscal year.

Jack Henry & Associates Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, May 29th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $2.32 dividend on an annualized basis and a yield of 1.30%. Jack Henry & Associates’s dividend payout ratio is currently 39.52%.

Jack Henry & Associates 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.