Kayne Anderson Rudnick Investment Management LLC Cuts Holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in Jack Henry & Associates, Inc. (NASDAQ:JKHY - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,013,481 shares of the technology company's stock after selling 12,191 shares during the quarter. Jack Henry & Associates accounts for about 1.6% of Kayne Anderson Rudnick Investment Management LLC's investment portfolio, making the stock its 11th largest position. Kayne Anderson Rudnick Investment Management LLC owned approximately 5.51% of Jack Henry & Associates worth $703,563,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Fortitude Family Office LLC boosted its stake in shares of Jack Henry & Associates by 647.4% in the fourth quarter. Fortitude Family Office LLC now owns 142 shares of the technology company's stock worth $25,000 after acquiring an additional 123 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Jack Henry & Associates during the 3rd quarter valued at about $26,000. National Pension Service bought a new position in shares of Jack Henry & Associates in the 4th quarter valued at about $27,000. ORG Partners LLC purchased a new position in Jack Henry & Associates in the fourth quarter worth about $35,000. Finally, Atala Financial Inc bought a new stake in Jack Henry & Associates during the fourth quarter worth approximately $40,000. 98.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. The Goldman Sachs Group upgraded Jack Henry & Associates from a "sell" rating to a "neutral" rating and set a $183.00 target price for the company in a report on Wednesday, April 2nd. Wells Fargo & Company began coverage on shares of Jack Henry & Associates in a research note on Tuesday, January 14th. They issued an "underweight" rating and a $155.00 target price on the stock. Northcoast Research downgraded shares of Jack Henry & Associates from a "buy" rating to a "neutral" rating in a report on Monday, March 10th. Finally, William Blair reissued an "outperform" rating on shares of Jack Henry & Associates in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $186.45.

Jack Henry & Associates Stock Down 0.9 %

Shares of Jack Henry & Associates stock traded down $1.55 during trading on Friday, hitting $171.00. 166,968 shares of the stock traded hands, compared to its average volume of 539,029. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.03. The stock's fifty day simple moving average is $174.81 and its 200 day simple moving average is $175.87. The firm has a market cap of $12.47 billion, a P/E ratio of 30.85, a price-to-earnings-growth ratio of 3.36 and a beta of 0.71. Jack Henry & Associates, Inc. has a 52-week low of $157.00 and a 52-week high of $196.00.

Jack Henry & Associates (NASDAQ:JKHY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.03). Jack Henry & Associates had a return on equity of 21.55% and a net margin of 17.83%. On average, equities analysts predict that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 6th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.36%. This is a positive change from Jack Henry & Associates's previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Thursday, March 6th. Jack Henry & Associates's dividend payout ratio is presently 41.88%.

About Jack Henry & Associates

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.