Vestcor Inc Reduces Stock Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Vestcor Inc decreased its stake in shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 15.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,760 shares of the technology company's stock after selling 5,945 shares during the period. Vestcor Inc's holdings in Jack Henry & Associates were worth $5,960,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tortoise Investment Management LLC increased its holdings in Jack Henry & Associates by 76.3% during the second quarter. Tortoise Investment Management LLC now owns 164 shares of the technology company's stock valued at $27,000 after buying an additional 71 shares during the last quarter. Blue Trust Inc. grew its stake in Jack Henry & Associates by 148.9% during the second quarter. Blue Trust Inc. now owns 224 shares of the technology company's stock valued at $39,000 after acquiring an additional 134 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in Jack Henry & Associates during the third quarter valued at $48,000. Point72 Asset Management L.P. bought a new position in Jack Henry & Associates during the third quarter valued at $54,000. Finally, International Assets Investment Management LLC bought a new position in Jack Henry & Associates during the second quarter valued at $63,000. 98.75% of the stock is owned by hedge funds and other institutional investors.

Jack Henry & Associates Trading Up 1.4 %

JKHY stock traded up $2.47 during trading on Tuesday, hitting $177.27. The company had a trading volume of 691,011 shares, compared to its average volume of 468,774. The firm has a market capitalization of $12.93 billion, a P/E ratio of 32.47, a PEG ratio of 3.26 and a beta of 0.61. Jack Henry & Associates, Inc. has a 52-week low of $157.00 and a 52-week high of $189.63. The company has a 50 day simple moving average of $179.01 and a 200-day simple moving average of $171.79. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last posted its earnings results on Tuesday, November 5th. The technology company reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.02. The business had revenue of $600.98 million for the quarter, compared to the consensus estimate of $599.56 million. Jack Henry & Associates had a net margin of 17.79% and a return on equity of 21.81%. The company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.39 EPS. As a group, research analysts forecast that Jack Henry & Associates, Inc. will post 5.8 earnings per share for the current fiscal year.

Jack Henry & Associates Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, December 2nd. Jack Henry & Associates's dividend payout ratio (DPR) is 40.29%.

Insider Buying and Selling at Jack Henry & Associates

In other news, insider David B. Foss sold 18,770 shares of Jack Henry & Associates stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $171.32, for a total value of $3,215,676.40. Following the transaction, the insider now owns 138,665 shares of the company's stock, valued at $23,756,087.80. The trade was a 11.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

JKHY has been the subject of several research reports. Stephens reiterated an "equal weight" rating and set a $170.00 price objective on shares of Jack Henry & Associates in a research report on Wednesday, November 6th. Royal Bank of Canada raised their target price on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a "sector perform" rating in a report on Thursday, November 7th. William Blair lowered shares of Jack Henry & Associates from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 6th. Oppenheimer started coverage on shares of Jack Henry & Associates in a report on Tuesday, October 1st. They issued an "outperform" rating and a $206.00 target price for the company. Finally, UBS Group raised their target price on shares of Jack Henry & Associates from $180.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Jack Henry & Associates has a consensus rating of "Hold" and an average price target of $189.00.

Jack Henry & Associates Company 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.